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THElast week i helped a family member get a copy of their credit report and credit score. One thing they found confusing was the difference between the two. Contrary to what many believe, a credit report and a credit score are not the same thing. While these are variations on your overall financial health, they …

Reviewing your credit report not only helps you control your credit score, but also gives you plenty of time to take corrective action and rectify errors, if necessary. While the RBI’s moratorium guidelines during the lockdown ensured that the credit scores of those facing financial hardship were not affected, any misinformation or errors in your …

Personal Finance Insider writes about products, strategies, and advice to help you make smart decisions with your money. We may receive a small commission from our partners, such as American Express, but our reports and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards. A serious …

Collection accounts Typically stick to your credit reports for seven years from when the account first became overdue. But you might want to remove them sooner than that; unpaid collections can make you look bad in the eyes of potential creditors. And while the new versions of the FICO and VantageScore credit scores ignore paid …

While it’s commonly accepted that your credit report lists the various accounts you have, their balances, and the status of their payments, you may be surprised to find that closed accounts can linger on your report for a while. years. Interestingly, closed accounts in good standing can stay on your credit reports for 10 years, …

Personal Finance Insider writes about products, strategies, and advice to help you make smart decisions with your money. We may receive a small commission from our partners, such as American Express, but our reports and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards. A Chapter …

The way your credit report is compiled and the quality of the information it contains will come under scrutiny from the Financial Conduct Authority (FCA), amid fears the market is not performing well for consumers. The FCA has launched a survey of the credit information market, which will include credit reference agencies (CRAs) such as …