Credit is borrowed money that you agree to repay by a certain time. Common types of credit include home mortgages, personal loans, and credit cards.
A credit report is designed to help lenders decide whether you should be granted credit and how much you can safely repay. Your credit report is actually a credit history report. Your past credit history is the most important factor lenders consider when you apply to borrow money.
The first step in improving your financial options is the check your credit-worthiness. That is, to check your credit report. It is easy and secure to do so now. A free credit report and credit score is available from Credit-Score.org right now!
The second step takes a bit longer. It is to correct your report. When it comes to repairing or rebuilding your credit, it is something you can do by yourself. All it takes is a little bit of education. Credit-Score.org has an online library that has articles and books available that can help you in better managing your finances and in responsibly managing your credit.
2 Comments so far
I completely agree that credit worthiness of a person is what is taken into account by most of the lenders. But now days even bad credit holders are getting the same importance as good credit holders as several websites are offering bad credit loans specially designed for these people to help them to finance their needs, whether personal or business related.
Comment by avantika banerjee 09.29.08 @ 11:56 pmCredit is borrowed money that you can use to purchase things you need when you need them and then repay.
Comment by Finance 11.12.08 @ 8:41 amLeave a comment
