A lot of people having realized importance of credit history and credit reports erect availability of it in a rank of one of success components. Some people give to it greater value, than it deserves, others, on the contrary, don’t care of the credit history and credit reports and then repent. The credit history allows the creditor to estimate a measure of financial risk at a loan of money, services or the goods. I.e. in the financial world it is a trust measure to the borrower: how much “accurately” the borrower returns the borrowed money. To lend to the person who regularly borrows (let though also the small sums) easier and in time returns, than to someone, for example, hasn’t paid in time the account of the telephone company or credit bills.

Your credit history begins when you make an initial purchase on a credit card or buy any goods on tick, or a beret mortgage (the loan for habitation purchasing). To spoil the credit history it is possible before credit card reception if you don’t settle an account in time, and your creditor will write on you the complaint to credit bureau where the credit information from all the country gathers.

If your credit history is spoiled by an error or misunderstanding you can protest the complaint having sent a situation explanation in the same credit bureau. You have the right to demand recheck of your information and to ask, that the lost data has been added in your file. Under the law it is possible to order free of charge copy of the information of your credit file; you, also, have the right to know particularly why to you is refused the credit.

The entire country legislatively protects your rights to know that in your credit file and who inquired the information on you. So you can call free across the country and you can order a file with the credit report free of charge.

Financial institutions and other credit establishments pay to credit bureau for this information. In most cases the credit bureau stores customer information for last 7 years (the revealed cases of a fraud behavior are stored much longer). But one only hasn’t enough credit history for reception of money on credit (especially large sums, for example, mortgage). The great value has the family income. After all to bank or other company it is important that the amount of debt has been returned in time and with the percent.

I advise to all who has already begun the credit history to open a credit line. (Not to confuse with the credit cards). It is the bank account for which you pay nothing, but at any time can borrow money within a credit limit. From first day of reception of the credit the bank charges percent on a credit amount, which it is recommended to pay monthly together with 3-4 %% (depends on bank) from an amount of debt. The limit of a limit is better not to exceeding. Any infringements of conditions of using by a credit line involve deterioration of credit history.

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