Your Credit Rating is a measure of your creditworthiness shown by the credit score. It is used by Banks and other corporations including Credit Card, Mortgage, Auto, Mobile Phone and Insurance Companies, as well as Employers and Landlords to assess potential risk.

Companies vary in their methods of evaluating credit scores, and offer preferential credit terms based on what they deem to be an acceptable score. For instance, one mortgage company may give reduced interest rates for scores above 690, while another may require 720. Exploring these differences is useful in getting the best deal in the marketplace.

Credit Scores & Credit Monitoring

Credit Scores are an integral part of an individual's financial profile. They are based on up-to-date credit information about one's existing financial status, including lending, borrowing, repayments, and other activities. Credit monitoring helps to protect and safeguard your assets against identity fraud.

Credit Bureaus

Personal credit information is collected by the main credit bureaus from banks, financial institutions and other organizations, and used to create a detailed personal report with an applicable credit score. These findings are sourced by lenders who wish to know an individual's financial status before determining how much to lend, at what interest rate, and the appropriate terms and conditions.

Banks and other creditors make regular reports to bureaus regarding personal lines of credit, transactions, and other valid financial data, to keep records accurate and up-to-date.

Credit Bureaus have an individual's personal information on file - name, date of birth, social security number, existing and previous addresses, and employment history.

Credit Bureaus do not make decisions on loan approval - this is left to the discretion of banks and other lenders.