What information goes into my credit report?
A credit report contains four types of information. First,
there is identifying information about you, the consumer - name,
social security number, address, etc. Next, there is a listing
of your credit history - account numbers, creditor’s name,
payment history, etc. Third, there is a listing of public
records. This would include bankruptcies, court judgments,
and tax liens. Finally, there is a record of all creditors
that have reviewed a copy of your credit report.
Do credit reports contain personal information?
Credit reports do not contain information about your medical
history, national origin, affiliations, or any other information
of a personal nature.
What is a credit score?
A credit score is a numerical evaluation of an individual’s
ability and willingness to repay credit debt as agreed. It is a
numeric representation of you as a credit risk. The higher the
score, the lower the risk to a lender.
What information goes into determining a credit score?
The 5 main determinants that go into calculating a credit score
are:
Is there anything I can do to improve my credit score?
-
Pay your bills promptly
-
Keep your debt at a realistic level relative to your income
-
Use credit cards responsibly
-
Maintain low or zero balances on unsecured debt (credit
cards)
What can I do if my credit report is incorrect?
If there is an error in your credit report, you should
contact the credit bureau immediately. The Fair Credit Reporting
Act has specific steps necessary to revise credit reports that
contain erroneous information.
Consumer FAQ questions.
|
