Understanding your credit report

Section A: Personal Information

Consumer information

This section consists of personal information that can include your name, Social Security number, date of birth, and current and former addresses and employer(s).

Consumer statements

The consumer statement section contains any comments submitted to the credit bureau to be included in your credit report. Usually this statement is an explanation of why a negative credit item is appearing on your report and will be taken into consideration by creditors and lenders.

Public record information

Public record information from local, state, and federal courts shows any legal item that may affect your credit such as bankruptcy, judgments, suits, liens, foreclosures, collection items, and items past due. This section will include information regarding the type of record, whether the case is open or has been closed, the date the case was filed, a record identification number, a closing date and which court has jurisdiction over the record. In cases of bankruptcy, your public record will include information about: liability (the amount you are legally responsible for as decided by the court); exempt amount (the amount claimed against you for which you are not legally responsible); and asset amount (the value of total personal assets that can be used to pay down your debt).

If you have questions about your report or find a mistake, contact one of the three major consumer reporting agencies:

Or, visit www.annualcreditreport.com for a free annual credit report (sponsored by Equifax, Experian and TransUnion).

Section B: Credit score

Section C: Account Information Summary

Accounts that are included on a credit report Some common account types include real estate, revolving, and installment. Real estate accounts include home mortgage loans. Revolving accounts have varied payments such as credit cards. Installment accounts have a regular payment, such as student loans or car payments.

Information included in your credit report is as follows:

• Company Name: Person/agency who gave you the credit account (i.e., bank, credit card company, etc.)
• Account Number: Number that identifies your account (i.e., credit card number)
• Condition: Account status as of the last reported date (i.e., open, closed)
• Type: Type of account (common types include real estate, revolving, and installment)
• Responsibility: Who is responsible for the account (i.e., individual, joint)
• Opened: Date the account was opened
• Limit: Maximum amount of charges allowed on a credit card
• Last Reported: Date the information was last reported to the credit bureau
• Reported Balance: Amount owed (at time last reported)
• Recent Payment: Most recent payment made on your account (at time last reported)
• Past Due: Amount left unpaid after the due date of payment and number of days past due (at time last reported)

Section D: Inquiry information

The inquiry section lists details about each query made into your credit history, such as the name of the inquirer and the dates of inquiry. These are also called tradelines. Inquiries are considered to be hard or soft: hard inquiries are made by lenders with whom you have filled out an application; soft inquiries are made when you request a copy of your credit report or when your credit is checked for marketing purposes (such as when a credit card company sends you an application).

How hard and soft inquiries affect your credit score

Too many hard inquiries within a short amount of time can be damaging to your credit score. If you're applying for a lot of credit at once, hard inquiries can make you appear desperate—which can indicate you may be going through difficult financial times—and can ultimately lower your score. Soft inquiries do not affect your score.

Frequently Asked Questions

1. How long does public record information stay on my credit report?
   Most information can remain on your report up to seven years. Bankruptcies can be included for up to 10 years.
2. What can lenders tell from my credit report?
   From the information in your credit report, lenders can see:
   • How promptly (or late) you pay your accounts
   • How much money you owe
   • How much credit you have outstanding in comparison to the amount you have available
   • How often you've applied for credit
   • What types of credit accounts you have
   • How long your credit accounts have been open
3. What does not appear on my credit report?
   Your credit report does not include information regarding your race, religious and political preference, lifestyle, medical history, or criminal record. Your credit report only includes items that are related to your credit.
4. What should I do if there is a mistake in my credit report?
   If you have questions about your report or find a mistake, contact one of the three major consumer reporting agencies:

   Equifax	800-685-1111	www.equifax.com
   Experian	888-397-3742	www.experian.com
   TransUnion	800-888-4213	www.transunion.com

5. Why is it important to check my credit report?
   Identity theft most commonly occurs in the form of opening a new bank account, utility account, credit card, or receiving loans, all in another person's name. By monitoring your credit report and looking for any suspicious or false activity on a regular basis you can better ensure that you will not become victimized by these types of fraud. Learn more about identity theft.
6. Why does my credit score differ among consumer reporting agencies?
   The reason your credit score might differ among agencies is that credit data is often collected at different times during the month, and your records at any given time may impact your score. It is also possible that an agency holds inaccurate information, or that not every lender/creditor you are affiliated with reports information to all three credit bureaus.

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