What Is The Fair Credit Reporting Act?

The Fair Credit Reporting Act is a law that regulates the collection and use of consumer information.

The act was passed into law in 1970 as an amendment to the Federal Deposit Insurance Act. It mostly covers credit agencies and other businesses that deal in collecting information about peoples’ finances and creditworthiness.

For example, the act requires credit bureaus to keep accurate credit information about consumers and to furnish that information when it is requested. It also requires the credit

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Finding Out What Companies Have Viewed Your Credit Report

It is possible to see which companies have viewed your credit report. This is something that you may want to do after you apply for a new credit card or a different type of loan, such as a home mortgage. You will see the lender’s name on the list of companies that have checked out your score. This is not free, so there will probably not be that many company names on the list. However,

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Credit History And Its Life Benefits and Challenges

Your credit history can either make your life easier or a lot more difficult. Whether you are buying a home, car or just applying for a loan, your credit history is going to make or break what you’re going for. A bad credit score will hinder you financially and stop you from buying a home or car that you need. You might even find that companies aren’t willing to give you a lower-interest loan simply because you have a history of bad credit.

On the other hand, if you have a good credit score, you

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Understanding The Effects Of A Credit History

If you’ve ever paid bills, got into debt or used a credit card, you will have a credit history. The status of your history, be it good, bad or neutral, will have a profound impact on certain areas of your life. Many Americans don’t realize how many factors can be affected by their credit history and may be left to deal with unpleasant surprises as a result. Here’s how your credit history can affect you.

Loans

If you need a loan for a home, car or business, your credit history will usually determine the loan’s size and interest rate, and

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Three Major Credit Bureaus and Credit Reporting Agencies

In the U.S., there are three main credit bureaus or credit agencies to which credit card companies, banks and other companies report individual credit information. It’s important to know about and be familiar with all three.

TransUnion is a publicly traded company based in Chicago. It has been around for more than 40 years and provides credit information for more than 45,000 businesses and 500 million individuals worldwide.

Experian is a British company that maintains credit information on more than 225 million U.S. consumers and 25 million U.S. businesses. In addition to credit reporting, it also offers marketing services

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