We all know what a credit report is. This is an account of your payment history to your credit cards or loans. So credit report is very important while applying for any kind of loans because the lender you first and for most check your credit report to check your creditworthiness. If you have good credit score in your report that will certainly help you to get the loan with better rates and terms available in the market.
Now why credit report is so important to check your credit worthiness? Your credit report shows how good a customer you are? Do you make your payments on time? Does there any action taken against you for not paying your loans or bills? So if your payment history shows that you are a good consumer and you make all your payments on time or even intended to make their payments on time then you will have a good credit score and your credit worthiness will increase which will help you to get loans in future easily.
You can get a free copy of your credit report once in every 12 months but you need your credit report any time you can request for your credit report to the credit bureaus and purchase it from them. When you want to request for your credit report you have to provide the credit bureaus your name, address, social security number and your date of birth.
Now when you got your credit report, you should check it carefully to check if there is any inaccurate or wrong information in it. If there is any inaccurate or out dated information in your credit report that actually hurting your credit score then you can inform your credit reporting bureau to rectify it. FI your credit report is not up to the mark then you should try to work it out how to get your credit score back on track because your credit report is the most important thing that a lender will check to find out your credit worthiness.