Experian Credit Profile
Your Experian Credit Profile
If you have ever applied for a credit and received it, then you have a credit history. This credit history is recorded on a credit report that becomes part of your record. A credit report includes information about an individual such as name, address, social security number, credit cards, car loans, student loans, how much you owe your creditors, your payment history, court judgments (such as bankruptcy), etc.
Your credit report can be obtained by various people, this includes mortgage lenders, insurance providers and employers. This is because credit reports contain confidential information in which only lenders that you have been in contact with for whom you desire to seek credit from or those that have given you credit has a right to see your credit report. A hand full of credit bureau collect this information and Experian is one of them.
1. How to Obtain An Experian Credit Profile
Experian credit bureau obtain information from a variety of sources, these includes your creditors and any other information found in public records. You can obtain a copy of your credit report and FICO score from the Experian website if the need arises
2. Fico Score Defined
A FICO score is a credit score created by FICO. It’s score is based on your present credit history. The scores can ranges between 300 and 850. A lower score indicates that an individual’s credit is bad. Lenders might take a risk with an individual whose credit is bad, but some lender will not.
3. Will Experian Make Decisions About Credit?
No. Experian will only collect information for a credit report. This information is then given to lenders who make decision whether to give credit to the individual applying for it.
4. How Long Does Experian Keep A Credit Profile?
Experian keeps custody of your report for approximately seven to ten years. Other stern information, such as criminal convictions remains in your report for more than ten years.
5. What to do If There Is Fraudulent Activity On An Experian Report?
In recent times, identity theft is becoming more and more rampant. Credit report is one of the many areas where identity theft affects.
One of the major tool needed to fight identity theft is for people to be proactive. Below are some steps that you can take to avoid being a victim of identity theft:
1. Sign up with a credit monitoring service and frequently review your report on the regular.
2. Set up fraud alerts on your credit report which will notify lenders to verify your identity before the issuance of credit in your name.
3. The moment you notice any fraudulent activities on your credit report, notify your local police and file a report.
4. If you observe or notice any fraud on your credit report, notify all your lenders immediately.
If you have ever worked with a lender and he gave you credit, be it in the form of a mortgage, student loan, credit card, car loan and many more, then credit report becomes part of your life. Experian credit profile is very complex, but with the help of professionals, you can understand your credit score and how to manage it. For those with bad credit, there are credit counselors to help you get back on track so as to improve your credit scores.