Credit Rating

Eugine · #1 (**permalink**) 01-06-2011, 02:23 AM

A credit rating is a simple number which many lenders use to determine whether or not they will give a loan or line of credit to an individual. One's credit rating is impacted by a number of factors, some of which are controllable, others of which are not. There are three main agencies lenders go to in order to acquire an individual's credit rating: TransUnion, Equifax, and Experian. Many lenders get two or more reports, as details may differ among the agencies. Opinions differ as to which of the agencies is the best or most accurate, with factions holding strong opinions on both sides for all three of the major agencies.

loanmod · #2 (**permalink**) 02-01-2011, 11:01 AM

Is there any way to know about credit rating of individual in which he can get credit.

debtty · #3 (**permalink**) 02-07-2011, 07:14 AM

An assessment of the credit worthiness of individuals and corporations. It is based upon the history of borrowing and repayment, as well as the availability of assets and extent of liabilities.

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