Credit Reports and Credit Ratings
Your credit history is recorded in a credit report.  Your credit report provides information about how much money you owe and if you pay your bills on time.  Information about your current job, your current address and your social security number is also kept in your credit report.  When you borrow money, the creditor or lender reports this to credit reporting agencies.  These agencies use information in your credit report to give you a credit score.  A high score means you have good credit.  A low score means you have bad or no credit.  Credit reporting agencies look at several things in order to give you a score, such as:

• Your debt-how much money do you owe?

• Your credit history-have you borrowed money in the past?

• You payment history-Do you always pay your bills on time?