Bad Credit Credit Cards | Log Book Loans | Prepaid Credit Cards | Payday Loans | Cash Gold | Cash Loans
Credit Report FAQ's
What your credit report is saying
You may have already requested a copy of your credit report but can’t really make sense of it. Credit reports can be confusing and they do not come out and say everything that is good about them and damaging to you in plain English. Use these tips to decipher what your credit report is saying about your credit worthiness.
Name and Address
This section of your credit report is simply going to list every name you have applied for credit under and any change of address you have had over the years. This information is simply there to identify you and make sure you are the person applying for credit.
Credit History Section
This part of your credit report will list all your credit problems. Any payments you made that were over 30 days late, anything you defaulted on, all bills you currently owe, and finally the amount of credit you have offered to you. This means not just what you owe or didn’t pay but how much your current creditors are willing to lend you and how many bills you currently owe each month. This is the most important section of your credit report and you should read it very carefully.
Enquiries into your credit report
Enquiries are made into your credit report anytime you apply for any time of credit or loans. These are “hard” enquiries and will remain on your credit report for several years. They can be seen as potentially negative if a lender sees to many enquiries where you looked for loans or lines of credit and either received them or did not. Other enquiries such as those made by you looking into your own credit report are considered “soft” enquiries and do no negatively affect your credit worthiness.
Public Records
If you have failed to pay taxes or have any other legal judgments against you or your property, it will be listed here and can be heavily damaging to your credit score. These items will remain here for at least 7 years and a bankruptcy filing for 10.
Get the score
To really know what is going on in your credit report remember you need the score. This magic number is what lenders really base your credit worthiness on and must be requested by you apart from your credit report.
Top Products
Credit Cards
Payday Loans
Same Day Loans £50 - £500 - Apply Now
