Credit Education 101
Website CertifiedPrivacy Protected
Credit Education > Credit Report > What are the different sections of a credit report?

What are the different sections of a credit report?

By Janet Lacey
Published: Saturday, July 17th, 2010

A credit report is a vital document that you will eventually need to look at some point in time. If you don’t have all the requisite information, you might find it hard to take any financial decisions. Hence, you should work such that you are aware of what you might require in order to maintain a good credit score and be in good standing with the credit companies. Sometimes, something as simple as paying bills on time might be all that you need to improve your credit score. This cannot be determined till you take a look at all the sections that there are in the report.

Section 1 – Personal Information

In this section, all the information that was used to identify you is listed. This would include information like your full name, social security number, your current registered address, date of birth, driver license number, and employer information and also information regarding your marital status. This is the section that people most often tend to skip, which is understandable considering the nature of the information. However, it doesn’t hurt to go over the information and verify that it is in fact the right information and if you need to rectify it in any way.

Section 2 – Your Credit Details

This is the most important part of the credit report. This has a lot of vital information that you need to be aware of and possibly the information that you would expect to find in the report in the first place. A bulk of this information will have details like the loans that you might have open, the mortgages that you might have, number and kind of cars that you might own and also details related to your assets and credit cards. You will get detailed information regarding the accounts and number of accounts that you might be having in your name. Other details which matter to your credit score will also be in this section.

Section 3 – Inquiries Section

This is also another important section that you need to be familiar with in your credit report. Here, everyone who has expressed interest in your credit score and has pulled it out for some reason is listed.

There are hard inquiries, which are usually a result of you filling out some sort of a credit application like for a credit card or something along those line. The soft inquires are caused when you request the score on your own or is some company is simply using your credit score to send promotional items or for marketing purposes. Too many inquiries might result in a temporary halt on the credit application, which is nothing to be worried about.

At first, your credit report might be overwhelming to look at. However, give it some time and you should get better at it, being able to look at the scores as you please and not worried about whether or not the scores might affect you in any way. When you learn the practices that will help you get good scores, then it can be beneficial for your credit rating as well as for your financial future.

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment