Why should you conduct a credit check?
Like it or not, banks, lenders, phone companies and electricity providers share a person’s financial information with each other.
All this information is held in a database known as a Credit Report.
Everyone who has ever applied for a loan, credit card, a lease, mobile phone contract or any other type of finance has a Credit Report.
In this Credit Report there is a three- or four-digit number those banks use to approve a loan…it is called a Credit Score.
The higher the credit score, the lower the interest rate. So, check your credit file.
Even One Missed Payment Could affect Someone’s Credit Score for 2 to 5 Years!