A credit report is a snapshot of how you have paid back the companies from whom you have borrowed money, or how you have met other financial obligations. Each time you borrow, payment patterns are tracked and reported to a credit bureau. Creditors use this and other information to determine your creditworthiness.
- 1.What is a credit report?
- 2.What is a credit score?Your credit score is another tool used by creditors. When you apply for credit, a three-digit score predicts how likely you are to repay the debt. Past performance, current debt load, how long you have had credit, what type of credit you have, and how many recent accounts you have opened also factor into the score.
- 3.How long does information remain on my credit report?Credit reports include information from credit grantors and public records, including bankruptcies, judgments, and liens. Active positive information may remain on your report indefinitely, while missed payments and most public records will remain for seven years. The exception is bankruptcies which remain for 10 years, unpaid tax liens, which remain on your credit report for 15 years, and student loans which can remain as long as 25 years.
- 4.What is New World CIC? What is its main business?We are a credit information and insights company, we provide an accurate and comprehensive picture of each person, stewarded with care. As a result, organisations can better understand consumers in order to make more informed decisions, and consumers can be confident that their data identities will result in the opportunities they deserve. Our customers in Vietnam include some of the top banks and money lenders.
- 5.How does New WWorld CIC help credit applicants?We provides credit providers with updated credit information to help them make fast, objective and accurate decisions so they can approve loans and grant credit efficiently. Credit applicants with a credit record reflecting prompt payment find it comparatively easy to obtain new credit and more favorable pricing terms.
- 6.How can I check my own credit report?You can order your credit report or Credit Report & Alerts online. Or you can call us and make an appointment to meet with our Consumer Service Centre. When you come in, you will fill out a Credit Report Application Form to purchase. The Consumer Service Officer will then check your proof of identity before giving you a copy of your credit report.
- 7.When will I received the credit alert?TransUnion will send you a credit alert when there is critical change in your credit information