Meet Your Credit Character

The OppLoans Guide to Understanding Your Credit, Credit Report and Credit Score.



If your best friend needed a quick five dollars for a train ticket, you might hand over the money without thinking much about it. If your sister needed fifty bucks for an emergency, you probably wouldn’t hesitate to help her out.

But what if someone you don’t know asks to borrow money? Then it’s a different story, right?

When a stranger asks for money, you’d probably look at them with a healthy amount of skepticism. After all, you don’t know them, how can you say if they’re going to pay you back or just disappear with your money?

This is how banks, lenders and other financial institutions think when everyday consumers ask to take out a personal loan or access credit.

Lenders don’t know us personally, so they must judge our character by the information that’s available to them.

And what information is that?

Lenders look at  a document called your credit report and a number called your credit score to determine your “creditworthiness”—or how likely you are to repay what you owe.

So how can you see your credit report? How can you check your credit score? And when you do, how will you be able to tell what it means?

If you have questions like these, you’re in the right place. This simple and easy-to-use OppLoans guide will help you understand credit, your credit report, and your credit score so you can start living a better, more informed financial life today.

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