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Why is it important to keep a clean credit report?

By Derek Brown
Published: Wednesday, November 25th, 2009

It is very important not only to keep a clean credit report, but also to maintain it. A clean credit report can be of immense help to us in bad times. It will not only help us to get loans but also a lower rate if we have a good credit report. Your credit report would be pulled out by the borrower whenever you apply for some money.

The credit report will give the borrower a clear idea how much credit you owe in the market till date and the report will also give him a good idea about your past history. Based on all these facts the borrower will analyze the risk of lending out the money to you. A good credit report will lower the borrower’s risk of giving you the money.

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