Your credit report is nothing more then a very detailed snapshot of your financial history that is furnished to anyone supplying you credit from credit bureau. There are three main credit bureaus that handle a majority of these credit report request. They are Experian, Equifax and Trans Union. Each of these organizations are private in nature and routinely furnish your credit information when asked to do so for a fee.

Generally speaking credit reports provided by credit bureaus are very detailed and very accurate. For instance it’s not uncommon for them to have information regarding missed payments as far back as 6 or 7 years. They collect this information in order to provide it to creditors prior to their providing any form of credit to a consumer seeking credit. The creditors can use information they receive to determine if that same consumer can be considered a good credit risk. A good rating allows for more favorable credit terms while a poor rating essentially ends any chance for a consumer to obtain credit in first place.

One of first questions you will be asked when obtaining automobile insurance is how much of covered loss or deductible do you want to be your responsibility? You may choose between $100, $250, $500, or $1,000. The higher your deductible lower your premium however you must keep in mind that deductible is amount you must pay before your insurance will assist you. If you cannot afford to pay first $1,000 of covered loss you may want to consider how much you can afford and choose a lower deductible.