chap 7 b - Credit Bureas 1. All account information, both...

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Credit Bureas 1. All account information, both open and closed 2. List of companies who have requested your credit report Focus on Ethics: Guarding your Financial Information Fair Credit Reporting Act limits the sharing of credit information to firms that have a right to request it Exhibit 7.2 A Sample Credit Report Credit Bureaus (cont’d) Credit score Rating indicating creditworthiness Creditors rely on this score to help determine whether or not to extend a loan Can affect the interest rate received on loans Score affected by many factors Credit utilization, length of relationship with creditors, recent credit inquiries Credit Bureaus (cont’d) Differing scores among bureaus Bureaus don’t always have access to the same information Interpreting credit scores Range from 350–850, with 600 being considered a good score Correcting credit score mistakes Contact credit bureau that issued the inaccurate report Credit bureau required to investigate within 30 days Credit Bureaus (cont’d)
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This note was uploaded on 02/22/2012 for the course FINANCE 250 taught by Professor Maryevans during the Spring '12 term at Rutgers.

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chap 7 b - Credit Bureas 1. All account information, both...

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