How is Your Credit History & Credit Score Used?
Many different types of businesses rely on credit histories and credit scores to help them make business decisions that impact consumers. Examples of these companies include banks, credit card and insurance companies, and property owners. They are seeking consumers who are financially responsible and living within their means to lend money to, issue insurance, and/or rent property. Maintaining a good credit history and credit score may impact the: • loan rates charges on credit cards and loans • insurance premiums paid by consumers • ability for consumers to be able to rent property Consumers should regularly review their credit reports to ensure accuracy and completeness. A free annual copy of consumers’ Equifax, Experian, and TransUnion credit reports are available at www.annualcreditreport.com.