Question

What is the connection between a credit report and a credit score?

How long do financial records remain on your credit report?

What is some of the information you can expect to find on a credit report?

Answer 1

Credit score and credit report sometimes used as interchangeable used as one. The credit report and credit score tells the creditworthiness of the individual while the credit report tells about the credit worthiness of the company or an institution.

The connection between both of them is they both tell about the creditworthiness which can be used by banks and financial institutions to decide whether or not to provide funds. This is also used by investor on deciding whether to invest or not.

The financial records are maintained for approximately for 7 years on the credit report to give the lenders and investors true and fair view of the company.

There is bunch of information that is available on the credit report of the company. The report contains credit history of the organisation, personal information of the company including it's address and place of operations. It also includes the type of product and in what industry the company operates so give idea about the riskiness of investment. It contains all the credit account and all assets that are under mortgage.