What items are reported on a credit bureau?
This information is reported to Equifax by your lenders and creditors and includes the types of accounts (for example, a credit card, mortgage, student loan, or vehicle loan), the date those accounts were opened, your credit limit or loan amount, account balances, and your payment history.
What would a FICO score of 700 be considered?
For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750.
What are the most common credit report errors?
These are the three most common errors related to personal information on credit reports:
- Wrong Address: 56%
- Misspelled Name: 33%
- Wrong Name: 17%
What are the 4 main sections of credit report?
Each credit report has four basic categories: identity, existing credit information, public records and recent inquiries.
What should you pay attention to on credit report?
When looking at your reports, pay special attention to the balances reported on revolving accounts. That’s because most credit scoring models will compare the reported balance on each revolving account to the credit limit to calculate the “debt usage” ratio.
What are the two most important things to look for in your credit report?
We know that there are five main factors that contribute to your FICO score, one of the most popular scores used by lenders today: payment history, utilization rate, age of credit history, recent credit inquiries, and types of credit used. Payment history makes up 35% of your credit score.
What credit score is needed for a 300k house?
You’ll need an “acceptable” credit history as well. Some mortgage lenders are happy with a credit score of 580, but many want 620–660 or higher. Shop around if your score’s low.
What is a good Creditwise score?
A quick guide explaining credit scores, including how they work, what range is considered good and why they’re valuable. FICO says good credit scores fall between 670 and 739. That’s on a scoring range from 300 to 850. VantageScore’s good scores are reported to fall between 661 and 780, also on a 300–850 range.