What do banks use to check credit scores?
News from LoanSafe:

If you are looking to secure a loan such as a mortgage from your bank or even begin a new checking account you can be certain that your credit scores will be checked and thoroughly reviewed. Your credit score will indicate to the bank the amount of risk you bring to their company. Think of your credit profile as your character reference in regards to how you manage your money and debts.

Credit Reports

There are three main credit reporting bureaus your bank might use when checking your credit history. These include Equifax, TransUnion, and Experian. The Patriot Act requires that all banks verify the…………… continues on LoanSafe

… Read the full article
.

Related News:

Drivers With Auto Insurance Quotes No Credit Check Are Increasing
News from TheDay.com:

Editor’s Note: This opinion piece was submitted by a member of the public to The Day’s community website, www.Zip06.com.

The credit score is plays an important part as that information to insurance companies on which they can base their risk and corresponding rates. People with no credit history or very low credit are usually rejected. These people then have to opt for auto insurance quotes no credit check.

Place, date: Not all vehicle drivers have a good credit history or high credit scores. But still they have to have insurance coverage for their vehicle. In both cases new and renewal of insurance coverage the credit scores tell the insurance companies the risk based insurance rates appropriate for the car buyers or car owners. Low credit scores and absence of a credit history is cause for outright rejection for some companies. These drivers need to insure their vehicles with companies that offer auto insurance quotes no credit check.

The credit score has a large effect on auto insurance renewal. The insurance quotes are high for buyers with poor scores. Some companies even cancel or refuse to renew the insurance when the scores fall below certain levels. For drivers whose credit scores have plunged to low levels do…………… continues on TheDay.com

… Read the full article


Comments are closed.