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11 Cards in this Set
- Front
- Back
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Credit reports historical record is for how many years |
Past 6 years |
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Information included in a credit report |
Personal information Credit information Banking information Public records Collection information Consumer statement Credit report inquiries |
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Minimum amount of personal information required to obtain a credit report |
Name, address, date of birth, social insurance number optional |
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Lender credit categories and cutoff scores |
300 - 499 very poor credit 500 - 574 poor credit 575- 649 average credit 650 - 749 good credit 750 - 900 very good credit |
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What is validation odds |
The statistical percentage of the general population within a particular credit score range will likely go 90 or more days past due within the next 24 months |
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Consumer proposal |
Is a legally-binding, negotiated settlement made between a debtor and his or her creditors |
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Collection records |
Are overdue deaths that have gone to a third party collection agency |
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Secured loans |
One that is backed by individuals personal property as collateral |
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Judgments |
Is a credit related court order that instruction credit holder to pay monies owing to a creditor |
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Rating codes |
I05 being more than 120 days late with loan payments
R01 revolving credit husband paid within 30 days
M01 has been making their mortgage payments within 30 days
R01* revolving credit account has been paid on time |
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5 CS of credit analysis |
Character, credit, capacity, Capital, collateral |
