Credit Report
You went to Cancun when you were 21 and signed up for a credit card. Congratulations, you are now on the map.
After running up debt on that card, your balance was reported to a credit reporting agency. If you had a rich parent, you probably got a bailout on this credit card. If you didn’t, you probably received a black mark on your credit report.
The credit report is a detailed summary of a person’s borrowing history. Every new account that you sign up for will end up on the report. This includes your mortgage, your auto loan, your credit cards, and any other credit account that exists.
By tracking your credit history, the credit report provides future creditors with a statement that offers your credit score, a calculation based on past payment histories and numbers of accounts to determine if you're worthy of new credit...or a potential default risk.
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Finance: What is the Equal Credit Opport...6 Views
Finance a la shmoop what is the Equal Credit Opportunity Act? alright people while the
federal government thinks everyone should have the equal opportunity to get [Men in Federal Government appear]
into debt isn't that sweet of them you know that Uncle Sam well he sure does
have a heart of gold this federal law makes it illegal to discriminate against
people who are applying for financing on pretty much anything legal based on
their age gender marital status religious affiliation ethnic or national
background or public assistance benefits your credit score however well that
still matters sorry just keeping it real
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