| Although each credit reporting agency
formats your credit report information differently, all credit reports
contain basically the same categories of information. This includes
your social security number, date of birth and employment information
and other information used to identify you. These factors do not
affect your credit scoring. Updates to your credit information information
come from information you supply to credit lenders.
Identifying Information
Your name, address, Social Security number, date of birth and employment
information are used to identify you. These factors are not used
in credit scoring. Updates to this information come from information
you supply to credit lenders.
Trade Lines
These are your credit accounts. Lenders report on each account you
have established with them. They report the type of account (bankcard,
auto loan, mortgage, etc), the date you opened the account, your
credit limit or loan amount, the account balance and your payment
history.
Credit Inquiries
When you apply for a loan, you authorize your credit lender to ask
for a copy of your credit report. This is how inquiries appear on
your credit report. The inquiries section contains a list of everyone
who has accessed your credit report within the last two years. The
report you see lists both "voluntary" inquiries, spurred
by your own requests for credit, and "involuntary" inquires,
such as when lenders order your report so as to make you a pre-approved
credit offer in the mail. If you check your own credit report, you
will see an inquiry on your credit report, but it will not adversely
affect your credit score.
Public Record and Collection Items
Credit reporting agencies also collect public record information
from state and county courts, and credit information on overdue
debt from collection agencies. Public record information includes
bankruptcies, foreclosures, suits, wage attachments, liens and judgments.
Order a FICO Credit Score |
