Credit Report - Fraud Prevention Tool

A Credit Report is a valuable fraud prevention tool for the following reasons:

1. Helps identify the Prospective Tenant. i.e. verifies name, date of birth.
2. Validates the SSN that also identifies the Applicant.
3. In most instances it lists current and previous addresses.
4. Tells you if there has been a bankruptcy, lien, collection or civil judgment.
5. No credit history=a red flag; Click Here for the reasons why!
6. Fico Score: The Credit Bureaus provide a risk assessment based on previous credit history. The score recommended for the Residential Rental Industry is 600, a score above 600 is usually indicative of a good credit history. A score below 600 generally indicates that there is a credit risk associated to this Consumer; the credit history in this instance (below 600) would likely show payment problems. The higher the score the better. This is a guide that most financial institutions use.