What is your credit track record?
Your credit track record consists of all credit transactions that you currently have, or have had and is represented in two integral ways; by your Credit Report and your Credit Rating.
The payment history of a multitude of credit profiles that makes up your credit track record is summarized through a electronic file that is gathered and stored by major credit-reporting agencies like Equifax or TransUnion.
This illustrates the history of your past credit and current credit and can come from any of the following lenders, or credit-using services we encounter in our lives:
Rental Applications (apartments, homes, cars, etc.)
Credit Bureaus gather and maintain data obtained about your credit standing as a consumer every time you make or miss a payment; exceed or stay within limits on your credit cards or on any of the short-list of credit-using services listed above.
Then, whenever you apply for any kind of credit, these agencies sell your credit history data in the form your credit report.
Your credit history follows you everywhere as this valuable information that forms your credit report can be taken into consideration for any kind of lending situation. https://transcanleasing.ca/credit-education/