Why You Need Credit Reports
A credit report provides lenders with an overall snapshot of your credit usage, and even potential employers are checking applicant's credit reports.
Checking your credit report can also help to prevent against fraud and identity theft, which are among the fastest growing crimes today. The best way to prevent fraud is by checking your free credit report for any suspicious activity on your bank accounts, credit cards and loans.
Why Credit Scores are Important
Everyone checks on credit scores these days, and with a higher credit score you can gain access to the best interest rates on school loans, cars, mortgages, credit card offers, insurance payments and so much more.
Credit scores are calculated based on data in your credit reports and can fluctuate depending on recent activity, so it's important that you are monitoring it on a daily basis.
Differences Between Credit Reports and Scores
A credit report is an analysis of when and where you applied for credit, the lenders borrowed from and who you still owe money to. Your credit reports also monitor how much debt you've paid off and whether or not you are current on your monthly payments.
A credit score is a number-grade assigned to you based on the information in your credit report. Companies, banks and lender
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