The credit history is a credit folder on separately taken person or the company.

It is possible to look at credit history in the special report which constitute and renew credit bureaus.

From the credit report it is possible to receive the following information:

* quantity and the size of the current and extinguished credits;

* history of repayment of credits (timeliness of payment, delay, non-payment);

* the size of current indebtedness;

* general extent of credit history;

* record about bankruptcy;

* the list of the companies which did inquiry about your name.

For what the credit history is necessary? For banks, the condition of credit history of the person, allows to estimate a measure of financial risk at borrowing of money. I.e., the credit history forms a trust measure to the borrower. Easier to lend to the person about whom it is known that this borrowing in time returns, than to the person about it is known anything. In this connection, for people (and the companies) having good credit history, there was a possibility to obtain the loan in bank under more low interest, than for people with bad credit reputation.

Absence of credit history:

* complicates process of reception of credit cards and other kinds of a loan;

* at reception of the credit, a condition of its granting more expensive, than for the person, at which good credit history;

* at purchasing or a real estate lease, the owner can change the decision on the size of the deposit in the big party.

Who collects the information on a credit history?

It is collected by credit bureaus. They do credit reports and renew the information in them.

It is necessary to notice that banks and other credit establishments periodically send reports to credit bureaus with the information on changes on accounts of their clients.

For mess elimination, in the USA there is a system of complete identification of people, by assignment to each person of individual social security number — Social Security Number. Without such number, the credit history is difficult for identifying with the certain person since each of us can have namesakes.

According to the federal act of the USA, each person living in territory of the USA and having Social Security Number has the right once a year, free of charge to receive the credit report from three credit agencies.

To arrange the request for the annual credit report is possible free of charge on the web site.

Also, it is possible to send the statement by mail.

… Or to call by the phone

Unfortunately, the law doesn’t oblige credit agencies to give the information on quantity of credit points for free.

Where it is possible to learn a quantity of credit points FREE OF CHARGE?

On the web site

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