Credit Reports are Key Credit Reports are Key Despite lenders' willingness to hand out money, a good credit record is as important as ever. Nearly all lenders have come to rely heavily on computerized profiling to determine what credit they're willing to extend to a potential borrower. Information comes from your payment history, card balances, auto loans, retail accounts and hundreds of other factors. The end result is a numerical score that guides lenders in the terms they offer for a variety of financial products.
High scorers get the lowest interest rates and higher credit lines.
A high credit score not only gives you better terms today but may be important in the future should interest rates rise and credit standards tighten. Keep your credit record clean. Consumer Reports , 16. This web site is supported in part by the University of Missouri Outreach and Extension Outreach Development Fund . McKinnon Diana Hammond University Outreach and Extension does not discriminate on the basis of race, color, national origin, sex, religion, age, disability or status as a Vietnam-era veteran in employment or programs.