In many countries, the administration prefers to maintain a good record of the payments and credit history of the people. This report contains all previous borrowings, loans, credit payment information, bankruptcy and late payment details. This is called a credit report and helps a lot to the loan givers to refer the credit history of anyone. Credit reports are maintained by different companies and report for every individual gets updated every week accessible on the internet. We should be aware of the factors that can degrade our credit report and we should carefully evaluate them.

Factors that make cheap credit report:
a)    Bad payment history: It is the most important factor and determines more than 30 percent of the report. It is a heavy factor and affects the score drastically. However we should also know that timely payment has positive effect and enhances our score. So be punctual in repaying the credit amounts every month so as to maintain good score.
b)    Total debt and available credit: This again is another heavy point and should be handled carefully. If the available credit limit is less, people assume that we exhausted of money and it may become difficult for us to avail loans further.
c)    How many credit cards have you applied for?: This factors denotes weather we have had difficulty in availing credit cards or loans before and what were the reasons for that. Too many applications for credit cards bring negativity to the report.
d)    Types of credit card we have: Try to avail for different types of credit cards. Having more than one similar credit card can have negative impact and can result in cheap credit report.
e)    Length of the credit report: A long history of timely payment is always preferred and earns good credit report. A short and bad payment record can be regarded as cheap credit report
These are some of the factors that are considered potential parameters for a report and maintain them, we can definitely get away from cheap credit reports.

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