Credit Report Scores - Comprehensive guide to credit repair.

Credit Report Scores

Consumer Rights to Credit Report Scores
Based on many complex factors, credit bureaus rate a consumer's credit history. This rating is an essential element in determining whether or not that consumer will be approved for credit or loans from lenders. Although credit bureaus do not grant credit, they are an important factor in the process.

Until recently, consumers had no right to know their credit report scores or rating, even when these were used by creditors to deny credit. Pressure from consumer groups and legislators encouraged credit bureaus to reveal these ratings to consumers. Now, you can obtain "personalized" credit report scores and analyses from the bureaus, for a fee.

What Are Credit Report Scores?
These scores are three-digit numbers that result from an evaluation of your credit file. The higher the score, the better credit risk you supposedly are. The list of assessed factors is lengthy. Some factors are obvious, even to lay people: amount owed on accounts, too many accounts, too many accounts opened in the last year.

Some factors, however, are not commonly considered by consumers: not at present address or employer long enough, no recent bank card balances, too much activity on your card charges. Go online and find consumer educational material about credit. If you want a copy of your credit report and score, go online with Experian, Equifax, or TransUnion and request a copy.

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