What Is A Credit Report?

What Is A Credit Report

An extremely detailed report of a person’s credit history, that is prepared by a credit bureau, is what makes up a Credit Report.  The report is typically used by a lender in determining a loan applicant’s creditworthiness, including the following:

  • Summary of credit history
  • Detailed account information
  • Personal data
  • Credit history
  • Details of any accounts turned over to a credit agency

The information includes how often you make your payments are made on time, how much credit you have, how much credit you are using, and whether a debt or bill collector is collecting on money you owe. It can contain public records such as judgements, liens, collections & bankruptcies that provide insight into your financial status.

How Does A Lender Use A Credit Report?

Lenders will obtain your credit card when you are deciding if they want to loan you money. They will also use it to determine what interest rates they will give you and to determine whether you will be able to meet the terms of the account they are providing. Other kinds of companies such cable, insurance, utilities etc. will always run a check to make sure you will be able to meet the financial terms of the program/service you are requesting. Additionally, an individual or company that is renting you a residential property can check your credit report before renting to you.

Who Makes A Credit Report?

Credit reporting companies, known as credit bureaus or consumer reporting agencies, create credit reports. The major bureaus in the U.S are Experian, Equifax and Transunion. There are also specialty consumer reporting agencies that can report your history of paying bills for a product or service.

How Nationwide Credit Clearing Can Help You

At Nationwide Credit Clearing we professionally assess your individual credit situation by procuring information that allows us to obtain a copy of your credit report. Our staff of professionals will review the information and determine the best method of credit repair to use based on your specific situation. Our long standing reputation working with credit bureaus goes back as far as 1985.  NCC works with all three major Credit Bureaus:

If you or someone you know has something on their credit report that continues to hold them back from living a financially full-filling life, it’s time to call the Credit repair experts at Nationwide Credit Clearing

Nationwide Credit Clearing

“Home of the Free Credit Report & Consultation”
2336 N. Damen
First Floor
Chicago, IL 60647

Phone: 773-862-7700
Toll Free: 877-334-3296
Fax: 773-862-7703
E-Mail: support@mynationwidecredit.com

Credit Repair Illinois

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About Todd Stern

CEO and president of Nationwide Credit Clearing, Inc. Todd has been featured on the cable show “Fox Thing in the Morning” and is the host of the popular TV show “Credit Talk,” a weekly live call-in show in Chicago. You can follow Todd on and on Twitter
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