what is credit check?
whjo are they?
what do they ask and know about you?
2006-09-27 02:20:04 · 9 answers · asked by ~ 1 in Consumer Electronics ➔ Cell Phones & Plans
they run your id through the credit agencies, generally it can hurt your credit if you do this check too often, so do it very seldom because the more people checking it, the lower your score will go
2006-10-01 01:52:42 · answer #1 · answered by Anonymous · 1⤊ 0⤋
A credit check is an inquiry into your credit history. There are 3 different agencies in the U.S. who keep track of how you have paid your bills in the past, how many credit cards you have, and how many times your credit has been checked, among other things.
Don't run a credit check more often than is absolutely necessary, because too many credit checks lower your credit score. The higher your credit score, the better rates you will receive on all sorts of things, like car loans, credit card offers, mortgages, etc.
2006-09-27 02:31:53 · answer #2 · answered by Yogini108 5 · 0⤊ 0⤋
a credit check is when someone literally checks your credit. everyone who has a social security number has a credit score, which is a very involved number/information bits.
this information depends on several things, for example -
- how many credit cards you have
- how many late payments you've had
- how much available credit you have on your credit cards
- how much debt you've accumulated through your credit cards or loans
i'm sure you get the point. there are ways to get your credit score yourself - but it usually costs money. it is possible once someone has done a credit check on you that they could share the information they receive with you - there's no harm in asking.
once you have the sheets - you could sit down with someone at the bank and have them explain it in more detail if you're really interested.
2006-09-27 02:32:40 · answer #3 · answered by Moxie1313 5 · 0⤊ 0⤋
A credit check is when they run a check of your credit rating. Whether its good or bad, that you make your payments on time or not. Usually why places like mobile shops do one is to see whether you need to put down a security deposit or not. If your credit is good, you generally will not have to put a deposit down. If your credit is bad(or sometimes if you have no credit) you will have to pay a deposit. The amount you would have to pay varies.
2006-09-27 02:32:09 · answer #4 · answered by parrothead2371 6 · 0⤊ 0⤋
A credit check is when they check the history of your finances. They generally make sure that you have paid all your bills ontime and don't have too much debt. This is based on your credit score which is a number that reflects your credit history.
2006-09-27 02:34:40 · answer #5 · answered by Joy22 2 · 0⤊ 0⤋
A credit check determines your level of credit status and if a deposit would be required. All cell companies have to do this - it is very basic information. Your name and address, phone number, ss #, date of birth, employer, drivers lic #
2006-09-27 03:49:05 · answer #6 · answered by LaDonna J 3 · 0⤊ 0⤋
A credit check is simplt pulling your credit report to see if you are you and you pay your bills on time and to get a credit score.
It can save you money on a deposit
2006-09-27 02:30:15 · answer #7 · answered by ML 5 · 0⤊ 0⤋
It's just what it says, they want to check your credit to see if you pay your bills on time. If you have any bad debts that you were late paying or did'nt pay.If you've had a bankruptcy etc. Or to confirm that you pay your bills on time and your credit is good. It's common practice. They want your name, address, social security # etc.
2006-09-27 02:36:14 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Its to see if you have a bad credit history, wheither you are a good payer or not, if you have had credit before
2006-09-27 02:29:25 · answer #9 · answered by sadistic_bondagelover 4 · 0⤊ 0⤋