What Is A Kmcs Credit Report & What Does It Include?

By Author: Ryan Locchead
Total Articles: 17
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KMCS is one of the three leading credit reporting agencies in the UK. It gathers information voluntarily from creditors and other sources and uses the same to maintain your credit report file which is then provided to lenders, insurance companies, banks, employers, and other companies. The creditors use the credit report to evaluate your credit worthiness when you approach them to obtain credit.

KMCS credit report is your financial resume. It contains both your personal and credit information. For the sake of convenience, it can be divided in to 5 main categories-personal profile, public record information, inquiries, credit history, and credit score.

KMCS records all your personal information, including your name, your current and previous addresses, date of birth, Social Security Number, and current and past employment details. It then obtains information from local, state and federal courthouses regarding any bankruptcy records, foreclosures, tax liens, court-ordered payments, pending child support payments, and alike. Public records are considered as a negative credit reference and thereby can lower your credit ...
... score.

In the inquiries section, the credit reporting agency lists all the parties that have requested a copy of your credit report over the past two years. These may include your existing creditors who monitor your account to offer you special promotional applications for credit, as well as those whom you approach for loans, credit cards, insurance, and employment.

The credit history section of the KMCS credit report includes a list of your merchants credit card, loans and mortgages that are currently active and the ones that have been closed now. KMCS records the type of account, the date on which it was open, the limit of the account, monthly payments made by you, late payments if any, date of last activity, and a rating of how the account was paid.

KMCS also provides your credit score to help creditors determine your credit worthiness or the credit risk. Credit score usually ranges between 300 and 850 and mostly changes on a daily basis. Higher the numbers you score, the lesser are the chances that you will default a loan. And, the lower the numbers you get, the greater are the chances that you would default your payments.

Other sections that you will find in your KMCS credit report are your electoral roll, court information or the judgements filed in your name, property valuation, alerts registered at your addresses, and gone away records.

If you are interested in getting your KMCS credit report for free, just log on to www.knowmycreditscore.co.uk

Knowmycreditscores provides the latest information about credit report monitoring, free credit score report & merchants credit report in details.