How credit history reports benefit you

A good credit history will benefit you in applying for finance. When lenders review your credit history information, your credit score plays a big role in setting your interest rates and repayment terms. If your track record of building credit history is excellent, your efforts will save you money on interest charges.

The costs of a bad credit history

Credit history information always lags behind your real-time credit decisions. However, bad credit decisions tend to yield negative effects faster, and those effects linger for years. A credit history check that shows a record of bankruptcy, collection liens, foreclosures, and other financial missteps can affect your ability to get an affordable mortgage.

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