A Pennsylvania credit report contains all the information that lenders, insurance companies and other businesses look into to see how you build credit in the state. Your report contains a credit score, which is a number that reflects your bill payment history, how much debt you have, whether you pay rent on time and whether you have ever filed for bankruptcy or been sued. Such information helps businesses understand how reliable you are to pay your bills or pay off loans. For example, your credit score is used by financial institutions when deciding whether to issue you a line of credit and what your interest rate will be. Since your credit score report is used in many different ways, it is important to know how to get credit report information for yourself. You can obtain an online credit report here to get started. Once you know your credit history, you can make changes that will improve your credit score for the future. If you are still wondering, “What is a credit report?” and want all the information you need to know about credit reporting in PA, then you can find answers in the sections below.
How to Check Credit Report in Pennsylvania
To get credit report numbers in Pennsylvania, you may apply at a credit bureau directly. The three main credit reporting agencies are Experian, Equifax and TransUnion. Credit reports can be obtained from one agency at a time or from all three at once. Your credit history report will vary slightly from bureau to bureau, as each company uses slightly different reporting criteria. Another easy way to get a credit report is to apply for a free report online here.
Getting your credit report in Pennsylvania will require you to provide the same information regardless of how you apply for your report. Your credit check application will include your full name, date of birth, Social Security Number and address. If you have moved to a new address in the past two years, then you will also need to provide your previous address. As an added security measure, applications for credit history reports may require that you verify certain information about yourself that only you would know.
How does my credit score in Pennsylvania affect me?
Your credit history can be checked by any qualified business in Pennsylvania that needs to know more about your payment history before offering you a service. A credit check report may be performed when you:
- Apply for any type of loan, such as a car loan or mortgage.
- Open a new credit card.
- Sign an apartment rental application.
- Apply for an insurance policy.
- Apply for certain jobs.
When credit scores are too low, Pennsylvania businesses may deny your application for a loan, job, rental unit, insurance policy or other account. Similarly, if your credit score history is poor, then you may receive a much higher interest rate on your loans and you may be required to use a co-signer or have someone else guarantee to pay your bills if you cannot. Having a good credit history score, on the other hand, may qualify you for low interest rates, access to premium accounts and other benefits.
As your credit history affects so many aspects of your life in Pennsylvania, it is important to know what your score is before applying for major accounts, loans and services. Obtain credit report information here so you can see how your credit score will affect you.
What affects a Pennsylvania credit score report?
A Pennsylvania credit score is a reflection of how you build credit and make payments in the state. As such, credit reports are affected by many of your financial decisions and habits. Your credit history is mainly affected by how much debt you have, how many loans you have taken out, how many inquiries about new credit are made under your name and which types of credit you use. A credit score number is only affected by your own credit history, meaning that your spouse’s score does not affect yours. However, your spouse’s activity on any joint accounts or loans you have together will affect your credit as well. Paying bills on time, such as rent, utilities and credit card bills have an impact on your score. Additionally, credit reporting bureaus track whether or not you owe late payments to any debt collection agencies.
Negative information on your PA credit report usually stays on the report for seven years. Credit history reports hold information on more serious activity, such as bankruptcy, for a longer period of time. Get a credit report here to see what information your credit history contains.
How to Improve Your Pennsylvania Credit History
Having a good PA credit score will lead to lower interest rates and more opportunities in your future. If you have a poor credit history, however, there are several steps you can take to improve your score. First, work to pay off debts and pay bills on time so that accounts do not acquire late fees. Second, try to keep a lower balance on your credit cards. Having a low balance and a higher amount of available credit on credit cards will improve your score. Lastly, check credit reports periodically to ensure there are no errors negatively affecting your score. Reviewing your credit report also helps you spot identity theft. Get a credit history report here so you can begin taking steps to improve your score.