What's in a credit report? A whole bunch of stuff pertaining to your financial life.
A consumer credit report has four main categories of information: personal information, account information, public records and inquiries.
Banks, lenders, credit card companies, cell phone companies, landlords and potential employers all review consumer credit reports.
So it's smart to know what's in your credit reports. And you'll want to correct any mistakes.
This section of a consumer credit report contains:
Watch out for addresses that you don't recognize or variations of your name that you don't use. These are mistakes that could alert you to identity theft or a credit report error that could be negatively affecting your credit scores.
This section of a consumer credit report lists detailed information on your financial accounts such as:
Every account listed includes the following details:
This section of a consumer credit report lists your public records such as:
You will also find information on collection accounts listed in this section of your credit report.
The inquiries section of your credit report contains a record of all the companies that have checked your credit report in the past two years.
A company that wants your business may check your credit before sending you a promotional offer and companies that you already do business with such as a bank or credit card company may check your credit as well. But these inquiries won't impact your credit score.
The inquiries that will be factored into your credit score are the ones you initiate when you apply for a mortgage, car loan, credit card or other form of credit. Any time you fill out an application for credit, you give the lender permission to pull a copy of your credit report.
For a free overview and explanation of your credit report and to see your credit scores for free, check out Credit.com's Credit Report Card.