Investment Information and Credit Rating Agency (ICRA)

Investment Information and Credit Rating Agency (ICRA) is set up in 1991. Its earler name was Investment Information and Credit Rating Agency of India Limited. ICRA is constituted by by leading financial/investment institutions, commercial banks and financial services companies. The primary aim of ICRA is to rate various options in India and it is an independent and professional Investment Information and Credit Rating Agency.

Icra’s credit ratings are symbolic representations of its current opinion on the relative credit risks associated with the prevailing debt obligations or issues. It assigns -term ratings with symbols from A1 through to A5. Here A1 stands for a strong financial back ground while A5 represents a dubious credit rating. For example a rating like LB+/A4 indicate that the company is ‘non-investment grade’.

Visit ICRA website for more informations: http://www.icra.in/

How your free annual credit reports are calculated

In out last blog we have seen the importance of free annual credit check, free annual credit rating, free annual credit report online, Free annual credit reports, free annual credit score. Now we will see how your credit score / rating is arrived. There are several factors that control your credit score.

Punctuality of payment - 35% — punctuality of payment in the past. If you have failed to repay an installment then you loss some points. So be punctual.

Amount of debt - 30% — the amount of debt, expressed as the ratio of current revolving debt to total available revolving credit. In simple the ratio of what you have to what you owe.

Length of credit history - 15% — length of credit history. The longer you have good records the higher will be your score.

Types of credit used - 10% — types of credit used,

Credit obtained recently - 10% — recent search for credit and/or amount of credit obtained recently. The latest activities will count.

Also read - Free annual credit reports

Free annual credit reports

It is mandatory to an United State Legal citzen to have his Free annual credit reports from an authorized firm. A free annual credit report, free annual credit score, free annual credit check, one free annual credit report, free annual credit report online, free annual credit monitoring, free annual credit rating, free annual credit history or whatever you name it is required to access a persons creditworthiness. Banks and credit card companies, use credit report, credit score, credit check, credit monitoring, credit rating, credit history to evaluate the potential risk posed by lending money to consumers before lending money in loan.

As a result of the FACT Act, Fair and Accurate Credit Transactions Act, each legal U.S. resident is entitled to one free copy of free annual credit report from each credit reporting agency once in a year. This information is available at the only government-sanctioned credit reporting agency-operated website, annualcreditreport.com

So dont hesitate get your credit score now. But you must visit the site from US, otherwise you cannot access this site.

Fair Credit Reporting Act (FCRA): Simple Definition

Fair Credit Reporting Act (FCRA):
There are several consumer protection laws that regulate the credit and loan industry. One that is most relevant to our subject is Fair Credit Reporting Act (FCRA):
A consumer protection law that imposes obligations on credit bureaus (and similar agencies) that maintain consumer credit histories, lenders and other businesses that buy reports from credit bureaus, and parties who furnish consumer information to credit bureaus. Among other provisions, the FCRA limits the sale of credit reports by credit bureaus by requiring the purchaser to have a legitimate business need for the data, allows consumers to learn the information on them in credit bureau files (including one annual free credit report), and specifies procedure for challenging errors in that data.

There are many terms that used to identify the credit score / rate. Some of them are free annual credit check, free annual credit rating, free annual credit report online, Free annual credit reports, free annual credit score .