Understanding Your Credit Score

Once you get a copy of your credit report, it’s important to know how to read it. There are going to be an awful lot of numbers, abbreviations and terms you’ve never seen before. Trade lines, charge-offs, account review inquiries — how do you read this thing?

Even though you get one free credit report each year, experts suggest that if you are serious about improving your credit score, you need to examine a report from each of the three major credit reporting agencies.  This will, however cost you a small fee from the other two, so keep that in mind.

Your credit report is divided into 4 sections:

1) Identifying Information

2) Credit History

3) Public Records

4) Inquiries

Click on the links to read more on each section.

Filed under: How To Read Credit Reports