As an American citizen, we are given the best possible service by the government.
Part of the service we are enjoying from the government is the issuance of a free yearly credit report.
You may not know the importance of this document, but reality dictates its role is vital.
Consider a man with a high standing position and a good credit history.
He pays on time and would never be in a big debt.
He used to have a good job but to the current recession, he lost it all of a sudden.
Now he won't let this stop him in seeking for greener pastures so he looks for a job and luckily found a vacancy.
When applying for that new job, the employer asks for a credit report as part of the requirement for screening.
Due to the fact that this man has good credit line, it is fairly easy for him to submit the documents.
Sure enough, the employer hired him among others.
What could have been his edge? Let us take a look at a man with a very poor credit history.
He overspends and would always be in debt.
He cannot pay on time and changes credit card accounts from time to time.
Like the man mentioned above, he lost his job and is looking for a new one.
The employer also looks for a credit report.
This man was hesitant to give any and when he did the credit rating was floppy.
In the end, he was rejected.
The scenario above would give you the idea of what the reports and ratings are for.
Without even discussing point per point, you would know the factors that make a good history and score.
The benefits of these documents are not only limited to employment.
It encompasses a lot of aspects in the modern life where living is tough and the fittest will survive.
Make sure to grab a copy of your credit report for