Category Archives: Annual Credit Report Score

Information Contained in Your Credit Report

A lot of both summarized and detailed information about your current credit use and personal financial history is included in your credit file . Knowing exactly what your credit report shows about your financial history is important prior to applying for any loan, especially a home mortgage or car loan for example. It is also important to review your credit file from each one of the three credit reporting agencies periodically to note any mistakes so that you can get them corrected. The three agencies do not share information so there may be inaccuracies in one file but not necessarily in the other two.

Most information remains in your credit file for quite a number of years including bankruptcy (up to 10 years), unpaid taxes liens (up to 15 years), and other public record information (up to 7 years).

If you’ve never seen your personal credit report before, here is a list of some of the kind of information that is included in a typical credit report:

-Personal Information:
A good deal of information that details and confirms who you are is included in your credit file. This includes your name, date of birth, Social Security Number (SSN), phone number, date of file, current address with “reported on” date, prior address with “reported on” date.

-Current Employment Information:
Your current an recent employment details are also part of your file including: company name, date hired, your occupation, income, and the same information for previous employers plus the “separation date” from those jobs.

-Geo Code:
Geographic information based on address and zip code used for statistical purposes.

-Report Summary:
This is a quick overview of the total activity in your credit file which includes: total # of trades, negative trades, # of accounts past due, amount past due, number of inquiries into your credit file over the last 30, 60, 90, and 180 days, oldest activity in your file, account balances, monthly payments, credit limit, high credit use, real estate balance, total installment loan balance, and the percentage of available credit remaining.

Any collections reported against any of your credit accounts is listed here. Typical details include the creditor name and code, industry code,  status (such as collected or placed for collection), narratives (additional description of the transactions), dates, amounts, and balances remaining.

-Public Records:
Any court judgments against you are listed here. Information includes court name, date, attorney, amounts, and disposition of the charges.

-Trade Lines:
This section shows the details of every open and closed credit line in your account. It includes information such as: account issuer, type of account, date it was opened, high credit limit, original amount (if installment loan), current balance, monthly payment, last payment amount, payment pattern (monthly score for each payment on time or late), and if an account was closed.

A record of all inquiries into your credit file are tracked and reported here. This included the date of inquiry, inquirer details, industry classification, etc. Example classifications include credit card companies, insurance companies, personal finance companies, contractors, etc.

-Warning Messages:
If you have had any disputes with your creditors there may also be statements added into your credit file by them or by you.

Your credit report does NOT contain personal information which does not have a bearing on your credit use including details such as your race, religious preference, medical history, personal lifestyle, political preference, friends, criminal record or any other information unrelated to credit. Also somewhat surprising to some people is that information about
checking or savings accounts is not included in the personal credit file.

So, you can see that several reporting agencies have a lot about your financial history on file, ready to report to inquiring potential creditors, employers, or landlords. Credit report laws may vary a bit per state but the bottom line is that you should monitor and keep your financial health as best you can. You never know when you will need to prove your credit worthiness and financial management capabilities.

Fix Your Credit Report Now
Create a special place or file to keep your credit report and any other related information together. Document all phones calls, emails, or any other communication concerning your credit problems.

American Education Institute
Generally, a credit history report reveals personal as well as other information (i.e., your full name, address, telephone number, job status, and marital situation, and such things as loan and other credit payment schedules, credit cards, etc.)

Credit Reports can be a Teaching Tool
Such reported information will include bankruptcies, divorce, judgments, and liens. An inquiry from a credit reporting agency will be made each time you apply for any type of credit. These inquiries will be on your credit report

Inaccurate Scores – A Credit Bureau Secret
Get a copy of your credit report! Start going through it completely. Look very closely at all the identifying information such as your name, address, date of birth, social security number, etc.

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