What does a credit report include?
Most credit reports are broken down into the following categories:
Personal information:
Such as your name, address, Social Security number etc… Make sure this is correct and up-to-date. Credit problems and identity-theft scams often occur simply because credit agencies don’t know where you live or where you work.
Account Information or Credit Summary:
This is a rundown of your credit history, past and present. All your credit cards (excludes debit cards) appear on this record, even if they’re closed. Check each account record for things like late payments and unpaid balances.
Inquiries:
Can be broken down into “hard” and “soft” categories. “Hard” inquiries are requests from vendors, banks, rental agencies, etc., for your credit history. Too many of these in a short amount of time can downgrade your credit rating. Don’t let anyone pull your credit unless you’re absolutely sure. Only companies that have received your written authorization should be able to pull your credit history. “Soft” inquiries include promotions from vendors, pre-approved credit offers, and your own personal credit checks.
Public Records:
These cover bankruptcies, judgments, tax liens, and other government-related notices that affect your credit.
Collections:
The nastiest section of all, this covers any repossessions, collection agencies or unpaid debts you may have or have had.
Dispute File Information:
Here you can initiate a challenge to the CRA for them to update your records, remove inaccurate information, and so on.
