Credit check, free credit report
What is a credit report.
The credit report has three main blocks of information: information about the volumes of current liabilities; information about the obligations of the client in the past; information on the availability of additional assets that increase the customer's credit capability.
The credit report contains the following information:
- general information about the client, which allows to unambiguously identify:
- surname, name, address, special identification number,
- information on the number of applications for loans and on the amounts of previously requested loans,
- information on the number and amount of loans received by the client earlier,
- warnings about inaccurate documents used by the client, the presence of any legal restrictions related to the client.
For a free credit check, you can access the Internet sites and get a free account online by entering your details.
The credit bureau collects not only negative information about customers (information about violations of the loan payment schedule, delinquencies, defaults), but also positive information reflecting the customer's payment discipline, timely fulfillment of credit 'obligations contained in the contract.
Such an approach to the formation of the database, about clients, but the opinion of representatives of the credit bureau and banks allows us to give a more complete picture of the client, of his total debt obligations, helps evaluate its solvency and creditworthiness, which significantly increases the reliability of the bank‛s credit operations.
Credit report allows you to give the bank comprehensive information about the client. It helps to identify non-standard customer behavior: for example, applying for a loan at the same time to several banks.
The information contained in the credit report provided by the credit bureau at the request of the bank speeds up the underwriting procedure and the decision to grant the loan.