The Credit Report, Part 2
Although the format of your credit reports will vary, based on which credit reporting agency created it and how the report is obtained, the data is basically the same.
The four main categories of information included on every credit report are described in the following sections.
Public Record Information Public record information includes bankruptcy information and unpaid tax liens, for example, as well as details about civil law suits, judgments, and other legal proceedings recorded by a court.
Bankruptcy information can remain on your credit report for up to 10 years.
Unpaid tax liens can remain on the report for up to 15 years.
Other public record information can remain on the report for up to seven years.
In some states, this could also include overdue child support.
Credit Information This includes details about all loans and credit you've been granted in the past.
For each item, information on the report will include account specific details, such as the date opened, credit limit or loan amount, balance, monthly payment, and your payment pattern.
The report also states whether anyone besides you (a joint account holder or cosigner, for example) is responsible for paying the account.
Active positive credit information can remain on your report indefinitely, whereas most negative information in this category remains on your report for up to seven years.
Requests by Others to View Your Credit History This section of your credit report will display details about who has received information from your credit report and who was given your name during the recent past, as allowed by law.
According to the Fair Credit Reporting Act, credit grantors with a permissible purpose may inquire about your credit information without your prior consent.
All inquires remain listed on your credit report for up to two years.
Hard inquiries, which are the ones initiated with your permission when you apply for a credit card, loan, or mortgage, for example, will negatively impact your credit score for up to one year, although they'll remain listed on your report for two years.
Personal Information This section of the credit report contains your personal details, including: your name, current and previous addresses, telephone number, your Social Security number, date of birth, and current and previous employers.
Within the employment section of your credit report, information about your position (job title), and length of employment are listed for current and past jobs.
Information about your race, religious beliefs, medical history, personal lifestyle, political affiliation, friends, and your criminal record (if applicable) do not appear on your credit report and have no impact on your credit score.
Other information that's not included on your credit report includes: checking or savings account balances, bankruptcies that are more than ten years old, and charged-off or debts placed for collection that are more than seven years old.
The four main categories of information included on every credit report are described in the following sections.
Public Record Information Public record information includes bankruptcy information and unpaid tax liens, for example, as well as details about civil law suits, judgments, and other legal proceedings recorded by a court.
Bankruptcy information can remain on your credit report for up to 10 years.
Unpaid tax liens can remain on the report for up to 15 years.
Other public record information can remain on the report for up to seven years.
In some states, this could also include overdue child support.
Credit Information This includes details about all loans and credit you've been granted in the past.
For each item, information on the report will include account specific details, such as the date opened, credit limit or loan amount, balance, monthly payment, and your payment pattern.
The report also states whether anyone besides you (a joint account holder or cosigner, for example) is responsible for paying the account.
Active positive credit information can remain on your report indefinitely, whereas most negative information in this category remains on your report for up to seven years.
Requests by Others to View Your Credit History This section of your credit report will display details about who has received information from your credit report and who was given your name during the recent past, as allowed by law.
According to the Fair Credit Reporting Act, credit grantors with a permissible purpose may inquire about your credit information without your prior consent.
All inquires remain listed on your credit report for up to two years.
Hard inquiries, which are the ones initiated with your permission when you apply for a credit card, loan, or mortgage, for example, will negatively impact your credit score for up to one year, although they'll remain listed on your report for two years.
Personal Information This section of the credit report contains your personal details, including: your name, current and previous addresses, telephone number, your Social Security number, date of birth, and current and previous employers.
Within the employment section of your credit report, information about your position (job title), and length of employment are listed for current and past jobs.
Information about your race, religious beliefs, medical history, personal lifestyle, political affiliation, friends, and your criminal record (if applicable) do not appear on your credit report and have no impact on your credit score.
Other information that's not included on your credit report includes: checking or savings account balances, bankruptcies that are more than ten years old, and charged-off or debts placed for collection that are more than seven years old.
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