Many of us come to the shock of our lives at some point when we receive the news that “YOU HAVE BEEN BLACKLISTED”, while trying to apply for credit, buying that house or the car.
That is when most of us get to learn for the first time that there is this thing called a credit report or credit history. So what is a credit report?
Well, your credit report is a record of how you pay your accounts and how you managed your credit affairs in the past.
What is in it?
What this holds is:-
- Your name,
- ID number,
- Addresses,
- The accounts you have (over the past 24 months) and how you paid them,
- Any defaults and
- Judgments
Where do I get a copy?
You can request your free credit report from main TransUnion and Experian who are the main credit bureaus in the country, with TransUnion being the biggest.
So the simple and straight forward answer to this question is… A credit report is an asset!
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