Your credit report can easily influence what you can and cannot get when trying to get any financial service or function handled. There are many great credit report facts that you may want to be aware of. These can influence not only what you are getting but also what you want to apply for.
First, your credit report is something that will be heavily influenced by a few things. Your credit history is going to have a much greater influence on your report than other things. Your credit history is going to include not only the amounts of money that you have dealt with and what you owe but also any late payments or outstanding amounts of debt that you might have dealt with.
Your credit and payment history is going to have the greatest influence on your credit report than anything else. The inquiries on your report, the types of credit that you have and the public records that come with your account may influence what you can get.
The amount of money that you have with relationship to what you have spent is a big credit report point to find. The amount of money that you have available to your name can be substantial. Your credit report will appear to be negative if you use up too much of whatever your limit is. This is a risk that you should be aware of because you could lose points on your credit score unless you have more credit freed up for any reason.
Another of the credit report facts to see is that your credit report is going to change over time. There is no way how you can stick with the same credit score forever. Your score will change based on how you can work with credit and how far removed you are from some past credit issues that you might have dealt with. Your credit report will improve over time if you are careful. Your annual credit report should be reflective of this.
You may deal with a decline in the value of your credit report if you apply for too much new credit. It will not hurt if you apply for just one thing over an extended period of time. The decline will only be by five points or less in most cases.
However, it will be hurt if you do apply for a large amount of credit cards and other financial things in a very brief period of time. This could be a suggestion of how you might be less likely to be concerned about what is going on with your credit.
Another of the credit report facts to see is that all groups that report on your credit are going to report on it with different considerations in mind. These include many points that involve how different kinds of credit are valued. You may have one credit score that is forty points higher than another, for example. The fact that individual errors can occur on any of the three reports you can get from any of the three credit bureaus will only make things tougher to handle.
You can choose to get all three of your credit reports at the same time. You can also get the separately. This includes getting a report from Equifax in March and then one from TransUnion in July and so on. It is best to get all three at once just to see what the difference in each report is but the final decision is up to you.
The public records that you have on your credit report will stay on it for a while. These will create serious impacts on your credit report and cannot be removed. These points will stay for varying times based on what your problems are. For example, a bankruptcy can be on your report for seven to ten years. A lien or judgment will only be on your report for about seven years. In other words, they are not as severe as a bankruptcy and therefore will not be there for as long as something else.
You should be aware of all of these credit report facts. These can impact what you can get for any credit purpose. They will help you out by supporting you with plenty of details on what things are going on with your credit and why it is as positive or negative as it could be. The times that you can get your credit report in can also vary according to what you want to get.