Ever wondered what information goes into your credit report, and what to look for as you’re reviewing it? A credit report is a public record of your financial history. The three nationwide credit bureaus Equifax, Experian and TransUnion collect and maintain a history of your credit activity as reported by the lenders and creditors you have credit lines with.
Your credit report includes important information about you, including:
- Personal information, such as your name, Social Security number, aliases or former names, current and former addresses, and sometimes your current and former employers.
- Payment history, account balances and limits, and dates the accounts were opened or closed. This includes credit accounts that may be in your name such as credit cards, mortgages, student and vehicle loans, and may also include credit accounts that are transferred or sold to another lender;
- Bankruptcies and accounts in collections.
- Inquiries, which lists the lenders and other companies that have accessed your credit report.
In the US we are protected by the Fair Credit Reporting Act. This mandates that your credit file with any of the 3 primary credit bureaus Equifax, Experian and TransUnion should only contain things that are timely and accurate. That means that anything that is not correct can not be listed by law.
The most effective way to remove any fraudulent activity is often to retain a credit restoration, credit repair, or credit rebuilding service to work on your behalf.