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All about credit report analysis

cooldude — Sat, 24 Sep 2011 05:29:55 +0000

In today’s world, e-payment is the best way to pay for many. It allows you to shop cashless and therefore you are freed from the burden of carry around cash. The best way to make payments or shop without cash is to use a credit card.

If you are a credit card holder and want to know what report means and how you credit report stands then we suggest you to go through the following points-

1) It is a report about your credit history and is generally prepared by the credit bureau.
2) The analysis of your credit repost shows your creditworthiness, i.e., how well you deal with your creditors etc.
3) This analysis gives detailed information about when you opened your credit account. How have you paid back your creditors in recent history and the latest enquires made by you. It also lists the total number of payments you have made.

How bad foreclosure affects your credit rating

admin — Sat, 01 Aug 2009 08:39:55 +0000

A foreclosure should only be considered as the last resort for it can drastically affect your credit rating. In fact, a foreclosure can affect your credit score by about 200 to 300 points. This means that a credit score of 800 can be lowered to 500. This results in a negative credit score. After a foreclosure, it is mandatory that you should not receive any financing from a creditor. This means that you will not be able to get loans, buy a car or any financing.

Your low credit rating may also affect your ability to get an apartment as most landlords use your credit scores as a way to determine your reliability as a tenant. This also applies to getting phone numbers or cable. However, these detrimental effects can be reversed only after the 24 months are over but a foreclosure will only be fully removed after seven years.