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It is one of the end-all-be-alls when it comes to financing. As such, it’s imperative that you understand everything your credit report is communicating.
First, it’s good to check your personal info to make sure that everything is accurate. This includes your social, birthdate, and few more important identifiers.
This is a key roadmap of your credit history. From lines of credit, to loans, debts, and much more. And this is only the baseline of information covered.
Known as an inquiry, these reviews impact your score based on its level of severity. There are soft and hard inquiries, and each will cause you to lose points on your score. Be careful here: the more frequent your reports receive an inquiry, the lower your score will start to plunge.
Of all the inclusions on your credit report, by far the most integral is your payment history. This will make or break your score, along with your chances of securing better interest rates. The next most important are your collection of debts. The more inconsistent your debt management, the more it harms your score.
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