What Kind of Information Is On Your Credit Report?

How Does Information Get Entered On Your Credit Report

Once a notation is made on your report, it doesn't drop off for awhile. That's not a problem for positive entries, but negative comments by your creditors can affect your buying power for several years. If the comments are accurate, they can stay on your report for seven years. Bankruptcies can remain on your report for ten.

Personal Information on Your Credit Report
These items are not used to evaluate your credit history. They are gathered from information you give to your creditors.

• Full name and variations of it (such as maiden names)
• Social security number
• Birth date
• Current and previous addresses
• Current and past places of employment
• Driver's license number and state where issued

Public Records and Collection Accounts
Data is collected from the court system and from debt collection agencies.

• Liens and judgements
• Bankruptcies
• Foreclosures
• Wage attachments
• Accounts in collection

Your Credit History & Current Obligations
Reported by your creditors.

• Dates accounts were opened
• Types of accounts (revolving, installment loan, mortgage)
• Account balances and credit limits
• Payment history for each account, including late payments
• Unpaid child support and overdrawn checking accounts can also be listed

Credit Inquiries

• Inquiries made when you are seeking new credit; too many inquiries in a short time are viewed negatively

• Inquiries made for promotional mailings, by your current creditors, and by yourself for informational purposes; these inquiries are not viewed negatively

Your Credit Score
Your credit score is a number that's generated by analyzing your entire credit profile. Scores range from 340 to 850. The higher your score, the less risk a lender assumes you will be.

Credit Reporting Agencies

There are three major credit reporting agencies in the United States. Creditors submit your payment history and personal information to these agencies.

• Equifax
• Experian
• TransUnion

Each agency operates independently of the other two, so records often differ. Corrections and updates to your file must be sent to each credit reporting agency, because they do not share information.

The Next Step... Checking Your Credit Report