A North Carolina credit score report contains a great deal of information about consumers, including certain personal details, current and past credit accounts and public records such as foreclosure or bankruptcy information. For this reason, many entities use credit reporting to help them predict whether applicants are high-risk or not. As such, a credit report helps lenders decide whether to lend money to customers as well as the interest rates they will charge them. To ensure that the information on a credit history report is accurate and contains no mistakes, it is important that consumers review their credit history on a regular basis and report any inconsistencies to the reporting agency as soon as possible. To get started, customers can get a free online credit report here. To learn more about how to get credit report results, review the information below.
What is a North Carolina credit history report?
“What is a credit report exactly?”, consumers may wonder. When customers get credit report results, they can view their bill pay history, current debts, financial details, loans and legal information such as arrests or lawsuits under their name. Since a North Carolina credit report helps companies predict whether consumers are reliable and responsible, many entities check credit report results before they decide whether to hire an employee, lend money to a consumer, insure a client or rent a property to a potential tenant. Many organizations obtain credit report results before they decide whether to work with a new customer or extend the credit limit of an existing client. As such, a credit report history contains information such as the following:
- Personal information, such as current and past names, addresses and phone numbers
- Birth date and Social Security Numbers
- Public records, such as liens, bankruptcies, foreclosures and civil suits
- Current and past credit accounts (including payment history, account balance or credit limit)
- Child support information
To ensure that a North Carolina credit score report contains no inaccuracies, customers can obtain an online credit report and review their information before applying for a loan or purchasing an insurance policy. Customers can get a free credit report online here.
How does my credit score in North Carolina affect me?
The information on your credit check is used to calculate your NC credit score (or risk rating). A high credit rating increases your chances of getting a loan or credit card and receiving lower interest rates when you borrow money, while a low credit score generally makes it difficult to borrow money at all. Additionally, poor credit ratings may result in high interest rates or insurance premiums, and banks or lenders may reject your application for a loan or credit card. Furthermore, your credit score report may impact whether a company hires you for a job, or whether a property owner rents an apartment or a house to you. In some cases, your credit score rating may deter utility companies from doing business with you, especially cell phone or cable television providers.
“What is a good credit score?”, you may wonder. Generally, credit scores range from 300 to 850, with 700 or higher being good and 800 or above being excellent. The average credit history score ranges between 600 and 750, while fair scores range between 580 and 669. However, very low credit ratings range between 300 and 579. To ensure that your NC credit history report is accurate before you apply for a loan or purchase insurance, you can check your credit report online here.
Uses for a North Carolina Credit Score Report
There are many reasons to get a credit report in North Carolina, especially if you plan to apply for a loan, rent an apartment, buy a house, seek new employment or enroll in an automobile or homeowner’s insurance policy. If your credit score report contains poor or inaccurate information, the lending institution, property owner, insurer or employer may deny your application for a loan, apartment, insurance, or a job. If your credit history report contains poor information but the entity does not deny your application for a loan or an insurance policy, the organization will likely view you as high-risk, resulting in high interest rates or insurance premiums if they do decide to work with you. For this reason, obtaining a copy of your credit check report is crucial before applying for a loan or purchasing an insurance policy. Get a free online copy of your report here.
Furthermore, you can use your NC credit report history for other reasons as well, even if you do not plan to apply for a loan or purchase a new insurance policy. Instead, you may use the results of your credit check to help you improve your risk rating over time. If your current credit score is too low or if you do not have enough credit, your credit reporting results can act as a reminder to pay your bills on time, reduce your debt amounts, or pay off your credit cards. Additionally, you can use your online credit report to help you build your rating as well. After getting your credit report, you may decide to build your rating by applying for a secured credit card or credit-builder loan, or becoming an authorized user on a family member’s credit card. To get started, request your free online credit report here.
How to Get a North Carolina Credit Report
Obtaining your credit report is an important step you must take before submitting an application for a loan, purchasing insurance or applying for a job. When you check your credit history in North Carolina, you must review the report for errors, missing information or fraudulent activity, and bring any mistakes or inconsistencies to the attention of the credit reporting agency as soon as possible. In most cases, you must submit the credit history error or dispute in writing.
Fortunately, there are several ways to get credit report results, including online here, through a credit card company, or through a counseling agency. When getting your credit report in North Carolina, you must provide information such as your Social Security Number (SSN), current address, full name, maiden name (if applicable) and date of birth.