When it comes to your financial health, your credit score is really important. So checking your credit reports is a good place to start when seeking to improve your financial health.
A credit report contains everything lenders like to know about you before they decide whether to let you borrow money from them. Credit reports contain lots of information on you, to include how you’ve handled credit in the past. They are created by credit references agencies. These are private companies, like Experian, Equifax and TransUnion.
The important things to know about credit reports are:
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"People often talk about their 'credit score', but there isn't a magic number that banks use to judge credit applications by. We get your borrowing history from the CRAs and apply our own criteria to that in order to make each individual decision."
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