Getting Started – Credit Reports and Credit Scores

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A healthy credit report and a strong credit score are important indicators of financial wellness. Our goal is to demystify credit reports and help you understand the factors that impact your credit score. This guide will help you learn the basics of credit and optimal ways to establish, improve, rebuild and protect your credit.

Credit Report

A credit report contains information about your credit, some bill repayment history and the status of your credit accounts. This information includes how often you make your payments on time, how much credit you have, how much credit you have available, how much credit you are using, and whether a debt or bill collector is collecting on money you owe.

Credit Score

A credit score is a numerical representation of your credit history. It makes it easier for lenders to systematically make loan decisions. Credit scores are a reflection of how you’ve handled credit in the past and are used to determine your potential credit relationship in the future. You have more than “one” credit score and multiple credit scores exist used by lenders. All credit scores are generated from information found in your credit report, but how the numerical number is calculated can vary.