Information is given about how creditworthy the person is. These bureaus meticulously record every 'movement' of the client and constantly determine an up-to-date credit score.ĭEFINITION When you look at a persons credit history, you look at their financial history. The main credit bureaus (credit agencies) in the USA are Experian, Equifax and Trans Union. Even insurance companies are increasingly checking whether the applicant belongs to the desired clientele or not.

This data is collected by various credit agencies, which are constantly gathering the latest information. Always the data of the applicant is used to ensure that you do not take too much risk. And with credit does not necessarily mean money lending! No matter if it is the car insurance, the telephone connection or the new house. įor many years it has been common practice in the USA to obtain data on new customers before granting even the smallest amount of credit. Christian Schimanski, an expert in this field, who our readers can also contact at the e-mail address. But how do you get a credit history and what is it good for?

Even if you do not want to take out a loan, sooner or later you will need a credit history report. In the USA there is no getting around the topic of 'credit history'.

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