What is On a Credit Report?

creditreportbannerThe exact information found on a credit report will actually vary when you get reports from different credit bureaus, but the information on any credit report is basically going to tell you about your credit history. Whether you have been perfect with your debt and bill payments or someone who has always been behind when it comes to making payments, you can expect to find the truth of your financial life in your credit report. If you really want to know what is on a credit report, then let’s take a look at the Equifax credit report as a specific example. This is probably the most popular type of credit report that is used today, so it makes sense to use this credit bureau’s report as a general guideline.

The Credit Report Will Have Your Basic Profile

The first thing that you will see on a credit report from  the major credit reporting bureaus is your personal profile. Information such as your name, address, marital status, birthday, past jobs and social security number will be listed in this section of the report. The first thing that you need to do when you get your credit report is make sure that all the information in this section of the report is correct. Inaccurate information in the profile section of your credit report could cause problems for you in the future if you are in a situation where you need a loan rather quickly.

Credit Inquiries

The next section of your credit report will contain the names of everyone who has made an inquiry on your credit history over the past two years. For clarification, it should be mentioned that there are actually two different kinds of inquiries that can be made on your credit history. A soft inquiry is usually an inquiry that you make on your own credit history, and this kind of inquiry will not show up on your report. A hard inquiry is usually needed when a third party is requesting your information to see if you will be a good candidate for receiving some kind of credit. Generally speaking, a large number of inquiries can have a negative effect on your actual credit score.

Your Credit Score

The last thing that will be listed on a credit report from any of the major credit reporting bureaus is your credit score. This is the main thing that people will use to judge whether or not you should receive a loan or some other form of credit. It is vitally important to keep track of your credit score to make sure that you do not let it get too low. When your credit score is low, you will have a lower chance of earning the trust of lenders. You will also have to pay a higher rate of interest on borrowed money when you have a low credit score.

If you would like more details on what can be found on your credit report, use one of the credit score resources listed in our Resources tab above.