The question as to whether the credit report sample provided by Equifax is really the same that’s used by banks or creditors to determine your creditworthiness is not answered by many people. All credit reports are not created equal. Banks will use your credit report as a barometer of your current financial condition. They may send your report to many lenders to help them determine if you are in need of a line of credit.
Even, though the credit bureau reports your credit history to the creditor, they will not consider the other ones. They don’t think it’s possible to determine the best one from the bad ones.
The other factor that affects your credit score is the information in your report that is irrelevant to you. The first impression is that important. If your name appears three times on the same credit report or your address shows up on three different reports, it doesn’t matter how much you owe.
After reviewing your Equifax sample credit report, be sure to compare the two types. Because there are differences between the reports, you should also take a moment to look at your own report to compare it to the sample report. You should review all the information and if you find discrepancies, call Equifax to request a copy of your credit report. Once this has been received, you can ask for help to get the problem fixed.
When it comes to your Equifax sample credit report, you should know that your credit scores can vary greatly, based on several factors. Those who file bankruptcy, have had a bankruptcy filed against them or had a debt that is seven years old will have less of a chance of being offered credit. You may also notice that your Equifax credit report has lower marks than another copy.
You may want to try and explain that you are not responsible for anything and that you do not have any debt and you are only looking to find out if you are approved. If you do get denied credit and then are offered credit, the terms can be very different. This will be based on the credit bureaus as well.
There are differences between the reports that need to be taken into consideration. The sample credit report that is provided by Equifax will not be the same as the one that is obtained by creditors. Do not go out and purchase a copy of your Equifax credit report, unless you know what you are looking for. Your credit report from Equifax does not mean much and it can be misleading.
When you sign up for credit, the company will use the Equifax report that was provided to them. Do not let the information that was found on your sample credit report get in the way of you getting the type of credit that you want. If you already have a credit account, you must clear it before you apply for credit again. Always check with your lender first before making a new application.