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How do I read these reports?
Posted by jamieg
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When you receive any one of your credit reports from the three credit bureaus, you will note that your information is separated into four basic sections.

You should review ALL the information in your credit reports to make sure everything is accurate, because any discrepancy could affect your credit score, or be an indication that you have become a victim of identity theft.

There are usually four types of information:

  • Personal Profile: Your full name, any known aliases, current and previous addresses, social security number, year of birth, current and past employers, and, if applicable, similar information about your spouse.
  • Credit Summary: The open and closed accounts you have with banks, retailers, credit-card issuers, utility companies, and other lenders (accounts are listed by type of loan, such as mortgage, student loan, revolving credit, or installment loan; the date you opened the account; your credit limit or the loan amount; the total balance on your accounts, any reported delinquencies, and your payment pattern over the past two years).
  • Public Records: Federal, State and county court records on bankruptcy, tax liens, or monetary judgments. In some states, non-monetary judgments may also appear, such as overdue child support records. Public records remain on your credit report for a period of 7-10 years.
  • Recent Credit Inquiries: The names of those who have obtained copies of your credit report. Inquiries typically remain on your credit report for a period of up to two years.
Fri Jan 12, 2007 12:46:41 PM

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