Sorry I didn't post my blog sooner. I accidentally posted the wrong information.
Credit reports are the subject of my first financial project.
I tried to get my credit report, but I have wasn't successful because I have not yet established credit. Since I don't have any credit history, I'm using my mother's to learn from.
I have already done some research about credit reports. The information you receive on your report is about loans, credit cards, and how you manage your bills. For instance, it will say whether you are paying back things on time. The report will show the dates on which the payments must be made. If you don't pay on time, it will show up on the report.
Credit reports are helpful when trying to buy a car, a house, or to get another kind of loan. The better the credit report, the easier it will be to invest or borrow a lot of money. You will most likely be approved, if your report is good.
Any one with more information on credit reports, perhaps from your own, let me know!
Gwen
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5 comments:
Hey Gwen... You may not have as much credit as your mom, but I'm sure you have something!
EX: If you have ever had a cell phone in your name!
Did you pull your report yet?
So i don't know ALOT about credit reports but i know some. I know that if you don't have credit you can still buy a car if you use someone as your main signer, but when you pay for it with your own checks you can save the copies and that can be determined as you gaining credit :) pretty confusing but really cool. Thats what i did when i bought my car
Gwen, I do not know much about credit reports either but I looked up some facts about credit reports at http://www.extension.umn.edu/distribution/businessmanagement/M1180.html
*Maybe you can check this website out.
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