What is Included in a Credit Report? by joymali


									                        What is Included in a Credit Report?

If you just newly applied for a credit you’ve probably heard about credit reports. First of all,
you should know about its importance. Your credit report will tell you all about the goings-on
in your account whether good or bad. But what is included in your report? You may ask.
Read down to know what to look for in your report.

      Personal information- This includes the basics, such as your name, address, age,
       SSS (Social Security System) and employment information. This information is not
       included in credit scoring. Also, this also just comes in when you supply to lenders.
      Credit lines/Trade lines- These are all your credit accounts. All the banks or
       lenders will report the transactions you made with them. In their report, it will include
       what type of account you made, the date you opened your account. Its limit, amount
       and the history.
      Credit inquiries- Credit analysis/inquires appear on your report when you apply for
       a loan and you authorize your lender for a copy of your credit report. This contains all
       the people who gained access to your account within the last two years. It also has a
       list for voluntary and involuntary inquires. Voluntary for when you request for your
       credit and involuntary, when lenders ask for a request of your credit report.
      Public record information- The agencies also take note of your public record.
       This includes foreclosures, suits, bankruptcies etc.

All these are included in your report. Scan these details well whenever you get them. The
format for some companies may be different but don’t worry about it because they are all
quite the same. Next thing you should be worried about is keeping up with your report. You
have to maintain your credit too. You have to prevent errors from ruining it; you have to
remove them to prevent future transactions from being affected. You have to keep an eye
out for fishy transactions to keep identity fraud from happening.

Your credit has a lot to offer you, which is it has to be kept healthy. All the things you have to
know about are in the credit report. You can actually get a free credit report from the three
credit agencies. Make sure to order one every three or four months. You can even subscribe
to a credit monitoring service which is ideal for those who are often away from home and is
on the lookout for identity thieves.

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