Page 4 - 6 TIPS FOR CREDIT SCORE

6 SIMPLE THINGS YOU

CAN DO TO INCREASE

YOU CREDIT IN SCORE
YOUR CREDIT REPORTS
2021

Frank Bullington
Frank Bullington

A credit report is the equivalent of a consumer’s financial report card. It details

your credit history reported to the credit agencies by the lenders. Your credit report will

list the types of credit you have, the amounts you owe, the length of time(history) the

accounts have been open and if you have been paying your bills on time.

Your credit report is used by different lenders to determine your risk when these

companies are determining their decision to grant you a loan. Banks, Credit Card

companies, mortgage companies auto finance departments, employers, landlords,

etc. check these credit reports to determine your ability to pay and previous payment

history. Why do they do this? Risk! They need to know if you have been responsible with

your bills in the past. Because it has been shown that if people have a pattern(history)

of paying payments on time they are highly likely to continue that behavior in the future

and vice versa.

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