What is a Credit Report? Know about Consumer and Business Analysis Reports

What is a Credit Report?

A Credit Reports is an explanation that has data about your finance action and current acknowledge circumstances, for example, advance paying history and the status of your credit accounts.

Understanding Credit Reports

Credit Reports: When you’re running a small business it becomes difficult to separate your business Score from a consumer report. Both the business and consumer Reports need to remain linked, no matter how hard you work to keep them separate. 

Consumer Credit Report

When you apply for credit the main three credit bureaus such as Experian, TransUnion and Equifax compile a profile as per your credit activities. On the bases of that, the bureaus create a report which includes all the following details, 

• A list of credit accounts such as credit cards and loans
• Current balance and the monthly payment on each account
• List of closed accounts
• Public reports of bankruptcies, liens, and such other judgments
• Information about the past as well as current employers

bureaus analyze all the information when they generate a credit analysis report, and on the bases of that score, the lenders measure your creditworthiness.

Read More: Business Information Report