A credit report is a written history of your credit profile that details information about you and your history applying for and paying for credit. In the United States, there are three major consumer credit reporting bureaus: Equifax, Experian and TransUnion. While the details of the information listed by each of the credit bureaus may differ, the type of information reported by each credit bureau is the same.
Consumer Information and Summary Information
The first section on your credit report lists your personal identifying information. This includes your full legal name, your current and previous address history, your date of birth and Social Security number. Below this consumer information you will find a summary of your credit profile. Summary information is a snapshot of your overall credit profile. Information listed includes the total outstanding balance of all of your credit accounts, your total minimum monthly payment from all accounts, the number of accounts you have in good standing and the number of derogatory accounts you have.
Detailed Account Information
Your account history information is the longest section of your credit report and details information about each of your credit accounts. The detailed payment history shows whether you paid your account on time each month since opening the account. This section also lists the current status of each account, including your current balance, minimum monthly payment and the date you opened the account. Finally, this section offers a summary of each account over the past seven years, showing how many times the account was paid late and how many days late payment was received.
Public Records
The next section of your credit report lists any public records you may have. Examples of public records include bankruptcies, liens and judgments. Details about the public records listed include the type of record, status of the record, the date the record was filed and the amount of the record. Also included in this section, if applicable, is information about when the lien or judgment was released.
Inquiries and Creditor Information
The final sections of your credit report list inquiries or requests companies or individuals have made about your credit history. This section also displays contact information for every creditor that appears on your credit report. An inquiry is a request made to view your credit report. There are two types of inquiries, hard inquiries and promotional (or soft) inquiries. A hard inquiry is an inquiry you initiated by applying for a new credit account. A promotional inquiry, on the other hand, is an inquiry made by one of your current creditors or a new creditor considering extending credit to you. Creditor information lists the names, address, and phone number of every creditor that appears on your credit report.
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