Credit report

A credit report is a report of a debtor's credit situation and is often used as a result of, or as part of, an overall credit assessment.

There are no requirements or rules for what a credit report should and must contain. It is basically up to the company (creditor) to define and decide what a credit report should contain.

The credit report is therefore often as different as there are creditors, but typically contains a credit score and the information that the creditor considers relevant in a credit relationship.

What does a credit report contain?

There are many different ways to look at a credit report and the information it contains.

Basically, a credit report must contain the information that a company, bank, lender or similar deems relevant in a credit relationship and that gives them a complete overview of the debtor's financial situation.

The credit report can thus contain, for example:

• Key figures
• Overview of assets
• Overview of other loan conditions
• Ownership of the company
• Company form
• A score

Read also: Key figures - an important tool

Who uses a credit report?

Banks and other lenders often use credit reports, both in connection with taking out a loan but also during the term of the loan.

In recent years, however, it has become increasingly common for private companies to also prepare a credit report on their customers. This is often the case for credit relationships of a certain size, but also if there is an ongoing relationship with the customer.

Why should you run a credit report?

A credit report is used in connection with credit assessments made for a customer/debtor if a creditor is to initiate a financial relationship with the debtor.

For example, when granting loans or if a debtor wants credit.

The credit report is used as a tool in the overall credit assessment, the purpose of which is to minimize losses. The credit rating helps to minimize losses on debtors or even avoid losses altogether.

How do you create a credit report?

Many banks and finance companies often have proprietary credit reporting systems, often in combination with purchased tools and integrations.

Many companies choose to purchase access to systems that offer credit reports, such as Qatchr.

Get credit reports with Qatchr

Qatchr is an online tool for creating credit reports. With Qatchr, you get a tool that gives you an overview of your customers' financial situation and can, among other things, give you a score of your customers and recommendations for credit periods and credit sizes.