When you’re applying for credit—whether
it’s a credit card, a car loan, a personal
loan or a mortgage—lenders want to
know your credit risk level.
There are three
major credit reporting agencies (Equifax, Experian
and TransUnion) in the United States that maintain
records of your credit use and other information
about you. These records are called credit reports,
and lenders will want to check your credit report
when you apply for credit. In most cases, lenders will
also want to know your credit score. |
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