The Experian full credit report is one of the most crucial documents if you want to take a loan or get something on EMIs. We will tell you everything about it if you are new to the credit scoring and reporting industry.
Experian full credit report consists of an applying individual’s financial activities. Generally, there are many credit reporting bureaus in the world. Still, the top three major companies are Experian, Equifax, and TransUnion.
You can directly go to them to know your credit score. Otherwise, you will eventually realize it while applying for a loan. This realization happens because the lending agencies and the banks always go through your credit reports to know your creditworthiness.
Features of the Experian Full Credit Report
Personal Information
Firstly, your Experian full credit report will consist of your personal information. Everything is mentioned in this document, from your date of birth to your address. You must make sure that all the information entered in it is correct.
Credit Account Summary
This summary is an important section. It shows all your previous credit accounts, credit history, repayment structure, and other credit-related information. It also stores your credit cards and loan information.
Credit Enquiry Summary
It consists of the past credit enquiring done on your account in the last seven days, 30 days, 90 days, and 180 days. Hard inquiry and soft inquiry are the two types of credit enquiring. The bank or the lending agency makes a hard inquiry to check your credit score. But unfortunately, it also damages your credit score.
The banks or the lenders make a soft inquiry on the customer without their knowledge of whether they are eligible for particular offers or not. This inquiry does not affect your credit score.
Experian Credit score
Finally, you will find your Experian full credit report score. It ranges between 300 to 900. Generally, a bank or the lending companies prefer a credit score of 750 or higher to believe in the legitimacy of the customer.
What Is The Benefit Of The Experian Full Credit Report?
With this credit report, you get to know your entire credit history. This way, you get to make intelligent decisions in the future as it helps you stop bad financial decisions. You can even use the report to apply for your loans at several places.
With the report, you get to know your credit limits and what is the amount you are eligible to receive with your current score.
Experian full credit report is indeed a very informative report, and it solves many credit problems. Moreover, you can apply for the report and get it directly without the interference of any lender.