A credit report is a history of how you’ve used credit in the past. It provides you, banks, credit unions like Denver Credit Union, and others with information about the debts you have and if you’ve paid your bills or not. It’s possible to get a free credit report any time you’re ready without having the inquiry impact your credit score negatively. However, the real question is ‘do you know how to read and understand the credit report?’ To ensure you’re not confused the next time you get your credit report, below is a breakdown of the information you will find in your credit report.
What Your Credit Report Includes
You can find different information in your credit report. To help you navigate through your credit report and know what to look out for, below is a list of the information that appears on the credit report.
Personal Details
You will provide your details like your name, aliases, or misspellings in your credit report. It will give other personal information like birth date, home address (past and current), social security number, employers (past and present), phone numbers, and gender in the credit report.
Accounts
The following information you will find in your credit report is a list of your credit accounts. This information includes revolving credit like credit cards and installment loans. If you’ve taken out mortgages or auto loans, it is sure to appear in your credit report. It will reflect information about these accounts like the creditor’s name, balance, payment history, account numbers, and account status. If there were a reason why your account was closed, it would also be reflected in the account. If you have an account with Denver credit union that’s past due, it will be included in your credit report.
Public Records
If you declared bankruptcy at any point, it is considered a public record and will also be included in your credit report. If there were a court verdict against you relating to credit debts, it would be reflected in your credit report.
Inquiries
It will also include inquiries into your credit report in credit report. Suppose a creditor like Denver credit unions, banks, employers, landlords, or any other person has made inquiries into your credit report. In that case, it will be reflected in your credit report along with the timeline of when the inquiries took place.
Information about your marital status, income, education level, or income will not be mentioned in your credit report. However, if you have a lien on your car or house which allows a creditor to seize it when you default on a payment, it will be noted. If you also went over your credit limit or missed payment, your credit report will include this information. Note that the three credit bureaus with your credit report can have different information about you.
