QandAs: Loans

What is my Credit History?

Answer:
Your personal credit history is a summary of

your borrowing and payment activities. All of your present and past accounts are listed, including mortgages, credit cards, student loans, finance and rental agreements, and auto loans and leases.

Detailed information is provided on each account such as open and closing dates, balance, credit limit, and payment record. Also listed are any bankruptcies, foreclosures, evictions, or monetary judgments against you. Your history is maintained and updated the three main credit-reporting bureaus Experian, EquiFax, and TransUnion. Your credit history ultimately determines your credit score and is shown on your credit report . Lenders use this information to determine your overall credit risk every time you apply for credit.


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