In this country, there are three major credit bureaus: Experian, Equifax and Trans Union. They offer information to lenders about a persons credit score. The lower your credit score, the less likely you are to get credit. Each credit report comes with score reason codes to explain why your credit score is where it is.
It is up to you to know what is on your credit report and keep the data up to date. You might have paid your bills on time, but your credit report may show that your credit is less than perfect. You may have had a credit dispute with a merchant that was corrected, but not shown on your report. You may have a bankruptcy that was not properly recorded. You may also have experienced credit fraud.
You can fix your credit profile. You can make sure that you arent carrying more debt than is reasonable for your income level. Avoid late and non payments. Make sure that there are no judgments or liens against you. You should also avoid co-signing loans because they are considered your financial liability. If the co-signer defaults, it will be your responsibility to replay the loan. You should avoid unnecessary checks of your credit. Each credit inquiry is...
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