Saving & Investing

Understanding a Credit Report

Your credit report helps lenders (like banks and credit card companies) determine how likely you are to pay your monthly payments on time.

 

A credit report tells lenders:

  1. The loans or credit cards you have and how much you still owe.
  2. How consistent you are with your payments.
  3. Past bankruptcies or tax liens.
  4. Credit scores range from 300-850. The higher the number, the better your score.

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Understanding a Credit Report

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