When it comes to getting any credit, you want to ensure you’re in the best shape possible, right? You want to know that when you need to apply for credit, you’ll get it. And that requires you to have a good idea of your credit history before you apply. That’s why you want to have access to your full credit report.
Your full credit report is an accounting of everything you’ve ever done regarding credit. At least over the last seven or so years. It contains information about all the accounts you’ve had, your payment history, and how those accounts were paid off (or not).
All of the information on that full credit report is then used by potential creditors to determine if you’re a good risk (and they want to give you credit) or a bad risk (and they don’t). It’s also used to determine the terms of any credit you’re offered, such as the full amount offered, the interest rate, and the repayment terms.
For many people, whether or not they will be granted credit is a surprise. You may have a general idea of your credit, but you likely don’t know the specifics. That’s why getting a credit report is a good idea. It lets you take a closer look at your current credit situation and what you may need to do about it to get the credit you need.
Full Credit Report for a Complete History
By looking at your credit report, you can see if you have a good history (on-time payments, accounts closed in good standing, etc.) or a poor history (negative accounts, late payments, charge-offs, judgments, etc.). From there, you can make a more informed decision about whether you’ll be approved for the accounts you need.
It’s important to note that a credit report will not include your credit score by default. While your credit score is usually the final deciding factor whether you’re going to get approved for credit or not (and under what terms), the report will give you much information as well. And, you can get a copy of your credit report (without the score) entirely free three times per year. At least, you can get it from each of the credit bureaus once per year.
If you’re interested in looking at your full credit report, take the time to visit Experian. You’ll be able to get a free copy of your report that will give you a better idea of what your potential creditors see when you apply for credit. And you’ll get a better idea of what you need to do to get approved.