How is my annual free credit report determined?

Whenever we are need of a loan or thinking of getting a new credit card, the importance of my annual free credit report is reinforced. The credit score or rating from the credit report determines whether we are eligible to take a loan, buy a new credit card, rent an apartment or get insured. And when the credit score is high enough we get to enjoy a lot of perks. But the real question is how the credit score of an individual is determined?

Given below are the three major factors which determine the credit score:

  • The details provided by you in the my annual free credit report

When we sign up to get the credit report, we are supposed to provide our details in the application form. These details play a major part in the determination of your credit score as they authenticate your personal details like employment details, accounts held, credit cards in the individual’s name, and previous credit transactions among other.


Free Credit Report Annual


  • Taking action against fraudulent activities

Due to the rise in the fraudulent activities like identity theft and stealing bank details, providing your correct address is an important factor to have a good credit score. This is because if someone ever undertakes a loan in your name you will be able to notified of such things immediately thus allowing you to take further actions against them. One of the major reasons behind a bad credit score is because of such fraudulent activities. for more click here;

  • What your lenders have got to say about you

The enquiries or comments from your lenders are another important factor in the determination of your credit score. The annual credit report free contains all the previous credit transactions undertaken by you hence they include the time period in which you had repaid your lenders. This acts as a factor for future lenders and financial institutions to determine your credit worthiness.