What is on a credit report?

Question

I wanted to know what goes on a credit report. Also I was wondering are outstanding magazine bills on there?

Answer 1

There are four main sections on every credit report:
1. Idenification Information
2. Public Records
3. Credit History
4. Inquiries

1. The identification section contains your name, DOB, SSN, current address, previous address and your employer. (Sometimes, your employers report that you work for them. Some do not. It's not a big deal if the credit bureau has an old job listed). You want to make sure that your SSN and DOB are correct as well as the spelling of your name.

2. The public records section contains any and all information about you that is public record. This is where you will find any tax liens, judgments or bankruptcies. This section does not include parking tickets, speeding tickets, arrestes, etc. That will only show up on special credit reports that are pulled and contain a full criminal history. Consumer credit reports (the type that we're talking about) don't have that area.

3. Your credit history is a listing of your current accounts, charge-offs and collections. It will also list accounts that have been closed w/in the last seven years. Each account is quite detailed, showing how much you've ever borrowed at one time, how much you currently owe, your credit limit, how many times you've been 30/60/90 days past due, the type of account (installment or revolving), how many months its been reported to the credit bureau and the payment history of the last 24 months (usually shown by a grid of some sort). It will also show your payment rating on a scale of 1-9. Other information can be found there as well - the date that you opened the account, the date it was last active and the date it was last reported to the credit bureau. Each account also has the name of the creditor (or collection agency) and their contact information. A partial account number will also be listed so you can check for the accuracy of the report.

4. Finally, the inquiry section shows who has pulled your credit report in the last two years. There are usually special codes listed near the company pulling it. Those indicate if they were customer-initiated pulls or or if they were pulls for the purpose of sending pre-approved offers in the mail and whathaveyou. They will stay on your report for two years.

Just a few notes:
*Not all credit reports have scores. If you pull your own for free, you will not have one listed. You have to pay for your scores.
*Most comsumer-pulled reports have a section at the end of the report with instructions for disputing or correcting information on your report. They must be followed to a T and sent to the credit bureau.
*Your past due magazine subscriptions will appear on your credit report if they have been sent to collections. It will show in the "credit history" portion of the report.

I hope that helps!

Answer 2

If you'd like a good explination of what's on a credit report, and how FICO scores work, I'd recommend reading infromation from the Fair Isaac Corp (the inventors of the FICO score).

The only way that outstanding magazine bills are on there is if the company sent your account to a collection agency, and the agency reported you to one of the credit reporting agencies as an unpaid account. Otherwise, it would not show up on your credit report.

See a PDF pamphlet at the site below.

(from the pamphlet section: What's in your credit report?)
PUBLIC RECORD AND COLLECTION
ITEMS. Credit reporting agencies
also collect public record information
from state and county courts, and
information on overdue debt from
collection agencies. Public record
information includes bankruptcies,
foreclosures, suits, wage attachments,
liens and judgments.

I hope that helps.

Answer 3

Below is the list of information on your Credit Report.

Federal district bankruptcy records and state and county court records of tax liens and monetary judgments. This information comes from public records.

Specific information about each account, such as the date opened, credit limit or loan amount, balance, monthly payment and payment pattern during the past several years. This information comes from companies that do business with you.

The names of those who have obtained a copy of your credit report. This information comes from the credit reporting agency.

Your name, current and previous addresses, phone number, Social Security number, date of birth and current and previous employers. Your spouse's name may appear on your version of the credit report, but it will not appear on the version that is provided to others. This information comes in part from your credit applications, so its accuracy depends on your filling out the forms clearly, completely and consistently each time you apply for credit.

Statements of dispute, which allow both consumers and creditors to report the factual history of an account. Statements of dispute are added after a consumer officially disputes the status of an account, the account has been reinvestigated, and the consumer and creditor cannot agree about the account status. Both the consumer's and creditor's statements of the account status will appear on the credit report.

Answer 4

theres alot of things that go on a credit report.

1. Name and Social Security Number
2. Current and Previous Addresses
3. Employer Name
4. Your ACTUAL Credit Score which is determined by inquiries, payment history(if youve ever been late), account history like whether or not your ever went over the limit or if you've always maxed out your cards. Collections, Bankruptcies,..all in short FINANCIAL HISTORY from the very first time you opened up a credit card.

5. The names of the companies you have accounts with followed by the day you opened your account with them, the account limit, and the current balance.

thats the crutial components of a credit report.

Answer 5

Anyone you owe money to can report to the credit reporting agencies. If you owe money for magazine subscriptions and have been turned over to a collection agency, they can definitely report it.

Your credit report typically contains your name, any address you've lived at, where you've worked, and any loans, credit cards, etc. that you've had. It will show what the opening balance was, what the current balance is, and if you've paid it off.

Answer 6

If there are errors on your credit record, dispute them with the credit bureaus. they are going to touch the creditor soliciting for verification. If the creditor does not respond to the credit bureau interior 30 days, the article would be got rid of. There are some 'credit' sites that advise disputing each little thing interior the hopes the creditor won't respond and the article gets got rid of. do no longer waste a while attempting this. in spite of if something does get got rid of, it incredibly is probably to return the subsequent time the creditor updates to the credit bureau. Disputing actual products ought to get you tagged by potential of the credit bureau and you have got issues getting actual errors fixed interior the destiny.

Answer 7

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