All of the following appear on your credit report EXCEPT…
Your checking account balance
Number of active credit accounts
Student loan payment history
Balance owed on a car loan
What should you do if you find errors in your credit report?
Close the affected credit account(s)
Contact the credit reporting agency or the company
Report the error on your taxes
Call the police to notify them of potential fraud
Why do lenders look at credit reports?
To determine the size of your household
To provide them with details about your savings account
To edit your credit score
To decide whether you are a qualified or risky candidate
Which is not one of the three credit reporting agencies you would possibly need to contact to report an error on your credit report?
Wells Fargo
TransUnion
Equifax
Experian
Why should you review your credit report regularly?
to check for accuracy; to see how different factors affect your FICO score
In general, why do so many different types of companies check your credit report?
To determine the price of the product or service
to make sure you’re likely to make consistent & timely pymts
They’re legally required to do so
When you sign up for phone, TV, or internet service, the provider is likely to check your credit report. Why would they do this even though you’re not borrowing money from them?
Even though you’re not borrowing money they still want to make sure you are likely to make your monthly payments
The following options are all included in your credit report trade lines except…
Current balances on your loans
Payment history
When you opened your credit accounts
Amount of money in your checking account
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