Credit Card Report
When you apply for a credit card, companies determine whether they will issue you a card or not based on your credit report and credit score.
There are three major credit bureaus, Experian, Equifax and TransUnion, which compile credit reports based on the financial records available about you. Your financial history is compiled into a credit score, which is an evaluation of your strength as a borrower.
Credit scores range from 300 to 850. The higher your number, the better you have been historically at paying back borrowed money. Eligibility for the best possible credit cards typically requires a credit score of 600 or better.
Knowing your credit score will give you a good idea of which types of cards you should apply to. If you're on the lower end, you should be looking at bad credit credit cards. If you're on the upper end you can look at cash back credit cards, 0% credit cards, and airline credit cards.
Your credit score is most likely accurate, however sometimes errors do occur. You can order your credit report, and if you find an error you can notify the credit reporting agency that has the error. They will be able to fix the error free of charge if it is a legitimate error.
