The 3 Main Credit Bureaus


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Parts Of Your Credit Report

The credit report is what third parties pull to identify your creditworthiness. It contains vital information for creditors; it will
let them know whether you are a responsible borrower who pays your debts well, or if you're a risky individual to lend
money to. Credit reporting agencies obtain these details differently, but usually provide the same content.

Personal Profile
The first section contains your personal profile. It states your name together with former names or aliases, former and
current addresses, and even your marital status and employment history. Additional information may also include your
birth date, driver's license information and Social Security Number. The information stated will help you confirm that the
report indeed is all about you.

Accounts Summary
This section gives you an overall view of your financial history and a summary of what is in the credit report. It gives you
information on credit limits, open and closed accounts, account total balances, credit inquiries and payment history.

Every account you've established with lenders should be found here. The account type (auto loan, mortgage, bankcard
etc.), loan amount or credit limit, date the account was opened, payment history and account balance should all be
noted.

Make sure all details are accurate and factual. If you have closed a credit card account, ensure it is noted. There are
credit reports that carry closed accounts that still show as open because they were not reported by the consumer to the
credit bureaus. This summary will also help you identify any errors in your credit report without having to inspect all
other sections. You will see disputable information that needs to be reported immediately to the credit reporting
agencies.













Public Records
The Public Records section would include details from court proceedings, receipt of judgments or tax liens, or
bankruptcy filings. Additional information includes foreclosure and repossessions. Some states may also include
defaults on child support.

This section ideally should have nothing on it. Issues stated here may affect the credit score negatively and can lead to
higher interest rates received from lenders. Legal issues related to your finances may stay in the report for 7 to 10
years.

Credit Inquiries
This section shows the inquiries made on your credit report. It contains records of your applications for new credit, and it
indicates any authorized access from individuals and businesses. Your credit file can also be pulled, but if it is not
related to credit applications, then it won't hurt your score. This section also gives details on the date of the inquiry, and
how long it will be on your report. Inquiries related to obtaining credit stays on your credit report for 2 years.

Authorized inquiries or hard pulls can be viewed by creditors on your credit report, whereas unauthorized inquiries or
soft pulls are only seen by you alone in your credit report.

Note: This isn't an official template of a credit report, The contents and sections may still vary depending on the credit
reporting agencies. This article only aims to give you an idea of what your credit report may contain and how to interpret
each section.