credit report - Credit Reports: Find out why you have been refused Credit.

You may already have 2 or more credit cards in your purse or wallet and you have just applied for a third and been declined. This can be very frustrating considering you pay off your other credit cards regularly and you are continually having your credit limit raised. This is a common problem and the only way to find out more is by getting a copy of your Credit Report. Equifax and Experian are the two main credit reference companies in the UK and hold credit details of over 40 million people. Your file includes information about all your credit cards, loans, mortgages, bank account details, as well as any adverse bill payments or County Court Judgements against you. When a Credit Provider asses your credit risk they will look at your Credit Report and make a decision based on your scoring. Your score is based on several factors. You may get more points for living in your address for more than 3 years or for having a home telephone, be married or for having children. Your age and profession can also help your score. The more points you have on your file the more chance you have of being approved for credit. The credit provider will use all this information coupled with your credit history to come to a decision. A Credit Providers scoring system is sensitive information so it's not easy to understand why you were refused credit. By having access to your Credit Report you will be able to get a sense of why you possibly have not been granted Credit. Another important point is to check and see that everything on your report is correct. You are allowed to make corrections to your file. As most people don't get their Credit Report they never know what's on it or why they are being refused credit. If you fell behind in some of your bill payments you are also allowed to add a note explaining why you did. This may also improve your score. With all the 0% credit cards on offer its worth mentioning that if you are continuously applying for these cards you could be damaging your credit score. The number of times you apply within a 6 to 12 month period can have an adverse effect on your score. If you have been refused credit, don't just move on to the next lender, find out as much as possible as to why it was declined before applying somewhere else. You can find out more about your Credit Report at Experian and Equifax. It costs '2 for a basic report. Grant Marwick is a freelance writer and owner of http://www.only-credit-cards.co.uk where you will find advice and more articles on Low interest Credit Cards and Credit Reports Article Source:http://EzineArticles.com/?expert=Grant_Marwick credit report - Bad Credit Remortgage The bad credit remortgage refers to a mortgage loan for borrowers with bad credit history. The mortgage lenders report the late payments, default payments, and bankruptcy to your credit history. Eventually, the borrowers lower their credit score. The mortgage lenders uses the credit score to give or reject remortgage financing. Many remortgage shop also specializes on how to repair bad credit rating. Anybody can remove any inaccurate transaction in your credit history. The keyword is inaccurate. Nobody can remove any accurate data on your credit history. The bad credit remortgage is also known as subprime mortgage loans. The bad credit remortgage is more commonly known on UK, while the subprime mortgage loans is more commonly known on North America (US and Canada). There are three main reasons to take bad credit remortgage. First, the borrower wants to lower monthly mortgage payment. If the borrower finds a lower interest rate, the borrower can seek to remortgage. Second, the borrower wants to raise money for personal expenses like vacation, cars, new home, tuition fee, or so. When the borrower accumulated a home equity, the borrower can borrow up to a certain percentage of the home equity. Third, the borrower can use the raised money to pay off existing debts this is more commonly known as debt consolidation remortgage. The borrower puts their property or real estate as collateral. In return, the mortgage lender may repossess the property or real estate on default of mortgage payment. Surprisingly, there are now many mortgage lenders who specialize in bad credit remortgage. Remortgage brokers have list of remortgage financing products of mortgage lenders that suits many financial situation. It is now easier and faster than ever to apply for bad credit remortgage. Best of all, the interest rate and mortgage payments is getting lower.