• Ndidi Ihim

What Is Inside Your Credit Report (And What Information You Should Not See)

A credit report is a summary of your financial instructions specifically your credit history. The three credit bureaus namely Experian, Trans Union and Equifax provide credit report but since they are three separate entities, you might want to get a report from EACH one of them.

Type Of Information

The credit report contains personal, financial and public information along with recent requests.

The credit report also includes personal information such as your full name, frequently used nicknames and aliases, date of birth and social security number. It will also show your current and past addresses, present and past jobs and if applicable, information about your husband or wife as well.

Since it is a credit history, all your financial information is included. This consists of bank accounts, credit card companies, power and telephone companies and such like. All loans you have incurred e.g. mortgages, student loan and installment loans will be also included together with important details like payment pattern, defaults in payment, debts that are less than seven years old and so on. Records like salaries above $75,000, any credit transaction or application for a credit card or insurance beyond $150,000 and unpaid tax liens will appear permanently.

Any public records that cite anything about your financial history will also appear for 7 years. It will include convictions, arrests, charges and monetary judgments. However, under federal law, convictions will appear indefinitely. Any declaration of bankruptcy will be also included for 10 years.

Any debts incurred or bankruptcy records for more than 7 years ago will not be included. Personal information such as age, marital status and race are excluded if requested by a current or previous employer. Deleted information will not appear.

Any items not mentioned here will be most probably not included. This information is vital to any decision making of lenders, creditors or suppliers when getting into a contract with you.

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