Understanding Your Credit Report
When it comes to getting a car loan or mortgage, your reputation comes first. Your credit report gives banks and lenders a good idea of whether you are a good candidate. Using the information, they contain and your financial history, they can estimate the likelihood of you repaying the money they gave you.
Although most people today know your credit score, this number is a composite of many other data points from your past activity. It can tell at a glance how strong your position is, but it alone doesn't tell the whole story.
Understanding everything about your credit report can be important for a number of reasons. Not only does this give you more detailed insight into how lenders might view you, but it can also provide insight into how you can make better decisions about how you spe...
