Credit Report

Chelz

I saw the copy/paste from an article below talking about how your credit score is determined, but is there a list of what can be on your report - in other words, I believe medical bills are never to be on your credit report.

Is there a link or a book someone can recommend? Thanks!

ilovehouses

Off-hand I cannot think of anything.  You may want to go to equifax.com.  If I remember correctly they had a lot of consumer facts about credit reports.  

Trans Union, Equifax and Experian are the three biggies.

Check em out. 

TheyCallMeLiz

• 35 percent Payment History: "Having a long history making of payments on time and no missed payments on all credit accounts is one of the most important items lenders look for."
  
  
• 30 percent Amount Owed: "This measures the amount you owe relative to the total amount of credit available. Someone closer to maxing out all their credit limits is deemed to be a higher risk of late payments in the future and this can lower their credit score."
  
  
• 15 percent Length of Credit History: "In general, a credit report containing a list of accounts opened for a long time will help your credit score. The score considers your oldest account and the average age of all accounts."
  
  
• 10 percent New Credit: "Opening several new credit accounts in a short period of time can lower your credit score. Also multiple credit report inquiries can represent a greater risk, but this does NOT include any requests made by you, an employer or by a lender who does so when sending you an unsolicited, "pre-approved" credit offer. Also, to compensate for rate shopping, the score counts multiple inquiries in any 14-day period as just one inquiry."
  
  
• 10 percent Types of Credit in Use: "Your mix of credit cards, retail accounts, finance company loans and mortgage loans is considered."

A book that really helped me is called "The Guerrilla Guide to Credit repair" by Todd Bierman and nathaniel Wice.

 You are allowed 1 free credit report each year by each of the bureaus. If you have not obtained one, go to www.annualcreditreport.com to get it. (no credit card needed).

If you are interested in getting acces to 1 of your scores, www.creditsesame.com can give you your Experian score for free and it updates monthly with a revised score. (no credit card needed).

HTH

nekha123

TheyCallMeLiz:

• 35 percent Payment History: "Having a long history making of payments on time and no missed payments on all credit accounts is one of the most important items lenders look for."
  
  
• 30 percent Amount Owed: "This measures the amount you owe relative to the total amount of credit available. Someone closer to maxing out all their credit limits is deemed to be a higher risk of late payments in the future and this can lower their credit score."
  
  
• 15 percent Length of Credit History: "In general, a credit report containing a list of accounts opened for a long time will help your credit score. The score considers your oldest account and the average age of all accounts."
  
  
• 10 percent New Credit: "Opening several new credit accounts in a short period of time can lower your credit score. Also multiple credit report inquiries can represent a greater risk, but this does NOT include any requests made by you, an employer or by a lender who does so when sending you an unsolicited, "pre-approved" credit offer. Also, to compensate for rate shopping, the score counts multiple inquiries in any 14-day period as just one inquiry."
  
  
• 10 percent Types of Credit in Use: "Your mix of credit cards, retail accounts, finance company loans and mortgage loans is considered."

A book that really helped me is called "The Guerrilla Guide to Credit repair" by Todd Bierman and nathaniel Wice.

 You are allowed 1 free credit report each year by each of the bureaus. If you have not obtained one, go to www.annualcreditreport.com to get it. (no credit card needed).

If you are interested in getting acces to 1 of your scores, www.creditsesame.com can give you your Experian score for free and it updates monthly with a revised score. (no credit card needed).

HTH

 

Thanks for the info, it'll be useful for me and easy to somewhere in my pc. I appreciate your efforts!

CuriousKiddosMama

@emilyliving do not bump (comment on) a post that is years old. If you feel the subject is important start a new post on it.
Also, links to businesses like that are not allowed. You cannot use these forums as a way to promote your businesses unless directly asked. As these links pertained to debt consolidation and not a credit score they were deleted.