Using Credit Records To Evaluate - CREDIT REPORT
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TODAY'S SAVING TIP
Under the FCRA, both the CRA and the organization that provided the information to the CRA, such as a bank or credit card company, have responsibilities for correcting inaccurate or incomplete information in your report. To protect all your rights ... Read more |
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CREDIT REPORT: Using credit records to evaluate
In developing credit history scores, builders of credit-
scoring models consider a wide variety of summary
factors drawn from credit records. In most cases, the
factors are constructed by combining information
from different items within an individual’s credit
record. These factors compose the key elements of
credit models used to generate credit history scores.
Although hundreds of factors may be created from
credit records, those used in credit-scoring models
are the ones proven statistically to be the most valid
predictors of future credit performance. The factors
and the weights assigned to each one can vary across
evaluators and their different models, but the factors
generally fall into four broad areas: payment history,
consumer indebtedness, length of credit history, and
the acquisition of new credit.ADDITIONAL CREDIT REPORT RELATED FACTS
What Should I Look For On A Credit Report To Indicate Identity Theft?
Dispute Your Credit Report
Why Should You Obtain A Copy Of Your Credit Report?
What If I Find A Mistake On My Credit Report ?
You Can Find Out What Is In Your File.
Who Decides What Goes In Your Credit Reports?
Outdated Information May Not Be Reported
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