The basics of credit reporting - Experian基本.PPT

? 2011 Experian Information Solutions, Inc. All rights reserved. * * Your credit history is built over time. Even though we tend to view the use of credit as a given in America, using credit is a privilege -- not a right. Once credit is earned, it is up to you to use it wisely and protect it. * Credit reporting is one of the most highly regulated services in America, with consumer protections that go well beyond the norm. * If you have been turned down for credit, you most likely know about credit reports. That is because the company which denied your application told you how to get a copy of your credit report if they used it to make their decision. You remember that negative experience. But what about all of the times your request was approved, the service was provided, you signed for the merchandise and went home happy? Very likely, a credit report helped make it happen. This positive experience occurs millions of times each month. If you haven’t thought about it, credit reporting: Reduces Costs Without automated credit information services, retailers and banks would have to call each creditor listed on an application, increasing the cost of credit. By utilizing credit reports, companies can avoid losses to bad debt, which keeps costs to all their customers lower. [Continued] * Enhances Services Instant Credit - Nationwide It makes “instant credit” a possibility. You can choose services from companies in other areas of the United States. Credit cards are accepted nationwide for a variety of services ranging from video rental to emergency medical treatment. Results in Better Customer Service Helping companies find good customers increases competition which increases choices and benefits such as lower interest rates, reduced annual fees and special awards programs. Helps Make Credit Decisions Fair Credit reports help credit grantors make accurate, consistent and objective credit decisions. Automation standardizes credit reports and eliminates indivi