What is The Credit report

What is The Credit Report? CREDIT REPORT Credit Report A credit report pulls together information on how much a person has borrowed in the past and how well he has done paying it back in order to let creditors know how much of a risk they would be taking by lending to him.. What all a credit report is compiled of? How much have you borrowed??? How have you done paying it back??? How many times have you applied for credit??? Are you in default??? From whom have you sought credit??? Have you ever sought bankruptcy protection??? How much do you currently owe??? Calculating a credit score Payment history (35%) Length of Credit history (15%) Amounts you owe (30%) Types of Credit in use (10%) New Credit (10%) Developed and Designed in Public Interest by- www.thecreditbureau.com Source-http://wiki.fool.com/Credit_report Piktochart make information beautiful