Review your credit
What’s on a credit report?
The credit report just provides information. It’s up to the creditor to use this information to determine whether you are a good or bad credit risk. Each creditor will analyze the information differently when deciding whether to extend credit to you. The credit report typically includes four types of information:
- Identifying information: your name, nicknames, current and previous addresses, Social Security number, year of birth, current and previous employers, and if applicable, your spouse’s name.
- Credit information: the credit accounts you have with banks, retailers, credit card issuers and other lenders. For each account, your credit report will list the type of loan (revolving credit, student loan, mortgage, etc.), the date you opened the account, your credit limit or loan amount, the account balance, and your payment pattern during the past two years. The report also states whether anyone else besides you (your spouse or cosigner, for example) is responsible for paying the account.
- Public record information: state and county court records related to bankruptcies, tax liens or monetary judgments. In some states, credit reports list overdue child support payments.
- Inquiries: the names of all credit grantors and potential employers who obtained a copy of your credit report for any reason. The inquiries section of your report contains a list of anyone who accessed your report for up to two years. (Federal law requires the two-year retention for employer inquiries, but only six months for credit grantor inquiries.) These time periods protect you as a consumer or job applicant.
Almost as important as what is in your credit report is what isn’t: no information about your race, religious preference, medical history, personal lifestyle, personal background, political preference or criminal record.
