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Free Credit Report

What is a free credit report?

A free credit report is a credit report which is provided free of charge by a company to its clients. A free credit report contains information on all your credit card transactions. It provides you details as to how much you have spent on each day and at what times have you paid your bills. A free credit report also contains the credit score. The credit score is a three digit number on the report that gives an idea of your credit history transactions and also whether you pay your bills on time. A credit score normally indicates whether you have a bad credit or not. A good credit score on the credit report is required to acquire loans and mortgages from various financial institutions like banks and other lenders.

Who issues free credit reports?

There are two or three companies in the UK who provide you with a free credit report. All you have to do to get a free credit report sent to your residence or your mail is to make an application online on the company’s website. Once the company receives the application, the credit report will be sent to your residence or to your email account normally within a week. The obvious difference between a paid credit report and free credit report is that you have to naturally pay an average of about 12 to 15 British pounds to a credit report bureau and then the bureau will send you your credit report on a regular basis. In case of a free credit report, the company may send you the report only once or twice in a year.



What does the free credit report contain?

The free credit report contains vital information as to where you live as well as how often are you paying your credit card bills. The free credit report mentions whether you are paying your bills on time or not. Your free credit report also states how many times you have gone bankrupt and how many times you have been sued for unpaid bills. The report also contains your credit score, which plays a vital role in providing information to the lending institutions like banks and other creditors whether they should approve your loans or not. In case the credit score states that you have bad credit, then the bank may not sanction your loan. The only way to improve your bad credit is to pay all your future bills on time. Your free credit report proves to be a vital piece of information to insurance and employment agencies as well. The insurance agencies will decide to process your application after seeing your free credit report.

Free credit report from more than one company

You can order your credit report from more than one company, so that you can compare them. As a result you can come to know of the discrepancies in the report, if any. In case you find anything suspicious in your free credit report, then you can call up the 24 hour online number of the credit report agency and speak to the representative on the phone.

 



 

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February 23, 2012
Consumer Comfort in US at Almost the Highest in Four Years

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