Your Credit Rating by:Joseph Kenny
Not many people spend too much time thinking about it
, but every one of us, has a computer file somewhere that contains all the information that makes up our credit history. This information will include our current and previous addresses, our income level, our outstanding debt and how much extra credit we currently have available to us. It will also show things like our repayment habits, whether or not we pay bills on time and if we have had any county court judgments made against us for payment.Checks
It will be made available to companies who wish to see it for a fee and it is surprising how many different types of companies now routinely make use of such reports. There was a time when only banks and other lenders used credit reports when deciding whether or not to give you a loan. However, these days, if you are for example thinking of renting a property, it is likely that the property agency will require a credit check in order to satisfy itself that you will pay your rent on time. Insurance companies also make heavy use of credit reports when assessing insurance premiums. Even large employers are now using credit reports to screen job applicants when they assess candidates.
Therefore, it can be seen that your credit rating can have a huge influence over you and your life. It can effect many important decisions that you might never have thought would be relevant to your credit history. For instance, you may not have been too worried about leaving an old phone bill unpaid after moving house, but the consequences can be quite serious.
Tips for Keeping a Healthy Credit Rating
There are some steps you can take to make sure your credit rating stays as healthy as possible. You can for instance pay your bills on time and reduce the amount of outstanding debt you have. You should also know that time is on your side because most negative elements on the report will not last forever.
You have a right to view your credit report and this is generally a good idea as it allows you to make sure it is accurate. If there is any negative information on the report that is in error you can have it amended or corrected. The credit reporting company has a duty to keep all information accurate and up to date. It can make a big difference so you should always inform the reporting company of errors promptly and give them the correct information.
About the author
Joseph Kenny is the webmaster of the UK credit card comparison site http://www.creditcards121.com/, where you can find a selection of credit card articles http://www.creditcards121.com/CaseStudies-FreeHelpandAdvice.htm. He also writes for the comparison site www.cardguide.co.uk which offers some best credit cards in the UK. Your Leadership Legacy by:Regina Barr Avoiding Business Burnout by:Margaret Benefiel Federal Reserve Bank - Controlling Mortgage Interest Rates by:Dan Lewis Business Strategies Straight from the Horse's Mouth by:Ann Kerr Romberg Don't Be Stopped by Bad Credit by:Jennifer Hershey Unsecured Loans With No Credit by:Julie Mann Home Business: Wreath Making by:Dawn Keadic Avoiding Credit Card Fees by:Peter Kenny Tips for Creating an Information Product by:Stephen Beck Credit Card Fees by:Peter Kenny Better the Devil You Know by:Peter Kenny Adverse Credit - When Is A Credit History Labelled As Being "Adverse"? by:Michael Challiner How To Make Money From Internet Auctions by:Stephen Pope