Credit Reports Issue


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Credit Reports Issue

Credit Reports Issue

Updated: May 28, 2019

The content is accurate at the time of publication and is subject to change.
Credit Reports Issue

What is an annual credit report and how does it affect your credit card application status and financial standing on the whole? In fact, your financial standing is reflected in the report and the report then is used by lending companies when you request credit, by your potential employer and lots of various financial and insurance companies when they want to make a deal with you.

Thus, your credit report is almost the major driving force for your financial career, and, which is no less important, for your credit scores. When applying for a new credit card, you are almost always certain to ask for your credit report as it shows you the scores and gives you the idea whether or not you'll be approved for the card.

A credit report could be quite a necessary thing in your everyday financial activity but in fact you can see it with your eyes free of charge only once a year. If you want more, be ready to fork up.

A free annual credit report is requested by lots of people daily and the main reason for doing that is to be aware of credit card approval chances. It is not difficult to assume that if a customer is planning on several applications within the period of one year, more that a single request for credit report may come up to a small fortune. Anyway, the game is not worth the candle because all the same it is strongly discommended to apply for more than one plastic in a year.

However, there is another, much more sound reason to address your credit bureau for the annual credit report, even if it is second this year already. It is the necessity to find why you have been denied credit without obvious premises for that. It would be weird to be rejected by a bank or credit company when you apply for a credit card perfectly well suiting your credit rating and the FICO scores.

It would be weird to be disapproved considering that you have always made payments on time and have been a favorite customer to lenders. However, you are not protected from such thing and the only explanation for the vexing denial is to be found in the credit report. Do not spare money and get the report as it may prove you are a victim of ID theft and credit card fraud.

Your credit report will reveal all the unauthorized transaction made on your credit card. You may have never purchased such a thing or service and so, you did not pay the bill which might be numerous. In these circumstances, a one-time charge for your credit report seems to be a trifle, as compared to how much you could lose not knowing about the fraudulent use of your credit card.

Not only will your account will be damaged but your credit rating and reputation will also be hurt. And they are much more difficult to rehabilitate.

So, do you still think that another credit report is not worth your money? Just learn about the countless scams and credit card fraudsters looking for every possible chance to lay hands on your credit card or number and that little piece of paper will become your precious.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Top 5 Cards for Travel from Our Partners: Summer 2019 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Summer 2019 – Expert’s Choice

Posted: December 17, 2018

The sun shines more and more each day, flowers are in bloom and you already feel how hot it is getting – summer is here. Summer holidays are almost here, and you are in need of dire preparation. Continue reading

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Posted: November 27, 2018

If you’re trying to find the perfect rewards credit card, you might feel like you’re drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often… Continue reading

How Do Balance Transfers Work?

How Do Balance Transfers Work?

Posted: November 27, 2018

Paying too much in credit card interest is not fun and you will definitely want to look for a way that will help you avoid paying credit card interest while paying off your debt. A balance transfer is that money-saving option to help you…. Continue reading

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!