If you have recently been denied credit or plan to apply for credit soon, it would be wise to obtain your credit report. You know that it is a document that is the foundation of a decision on whether you will receive credit.
We can obtain copies of our credit report for free, on an annual basis, from the three major credit reporting agencies: Experian, TransUnion, and Equifax. Go to annualcreditreport.com to obtain these copies. Please request reports from all 3 agencies because they may differ.
There will be several sections in each of the reports. The first section will include basic information such as name, social security number and other identifying factors. No information about race, salary, or assets will be in the reports.
Any of your credit lines will be included. Such items will include loans, mortgages, credit cards, department store and gas cards. This section will show when the account was opened, credit limits, monthly payments, payment history ( late payments also), unpaid child support and overdrawn bank accounts.
In addition, there will be a section for bankruptcies, liens, judgments, divorce which are records submitted by the court system.
Any time you apply for a loan or credit card there will be an inquiry made to a credit reporting agency. Your credit report will include not only these inquiries but inquiries by you. Credit inquiries remain for 2 years.
If the information on your credit report is positive, this is to your benefit. If the report has negatives, this information will remain for 7 years. A bankruptcy remains for 10 years.
It is highly recommended that we obtain and seriously review our credit reports to be aware of differences on each report, locate any and all errors. It is up to each individual to monitor his/her own credit profile, fix errors, and repair personal credit. - 16463
We can obtain copies of our credit report for free, on an annual basis, from the three major credit reporting agencies: Experian, TransUnion, and Equifax. Go to annualcreditreport.com to obtain these copies. Please request reports from all 3 agencies because they may differ.
There will be several sections in each of the reports. The first section will include basic information such as name, social security number and other identifying factors. No information about race, salary, or assets will be in the reports.
Any of your credit lines will be included. Such items will include loans, mortgages, credit cards, department store and gas cards. This section will show when the account was opened, credit limits, monthly payments, payment history ( late payments also), unpaid child support and overdrawn bank accounts.
In addition, there will be a section for bankruptcies, liens, judgments, divorce which are records submitted by the court system.
Any time you apply for a loan or credit card there will be an inquiry made to a credit reporting agency. Your credit report will include not only these inquiries but inquiries by you. Credit inquiries remain for 2 years.
If the information on your credit report is positive, this is to your benefit. If the report has negatives, this information will remain for 7 years. A bankruptcy remains for 10 years.
It is highly recommended that we obtain and seriously review our credit reports to be aware of differences on each report, locate any and all errors. It is up to each individual to monitor his/her own credit profile, fix errors, and repair personal credit. - 16463
About the Author:
With unprecedented challenges in the credit markets it's more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Report on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
