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Essential Information contained in your Credit Report

By Karen Anderson
Published: Wednesday, December 9th, 2009

A credit report is very important. This is the data assessed by the company you are going to apply for a credit card, a loan to buy a house or car and other things that require large purchases.  If your credit report reflected that you don’t pay your bills on time, or you have a lot of debt, it is more probable that you can not avail that loan.  You may get it but with a very high interest.

Do not ignore credit report tips that can help you to maintain a good credit record and credit score.  The credit report is a single document that can have a very big impact in your life. This is the bulk of information about how you pay your bills and repay your loans.  This information would help your potential lender to decide whether you are good loan payer or not.

What is the information that makes up your credit report? How can you keep a good credit report?

Your personal identifying information is included in your credit report.  This includes your name, address (current and previous), social security number, telephone number, birth date, your current and previous employers and even your spouse’s name.

Your credit history is also incorporated in the report. This will include your bill-paying history with banks, finance companies and others who granted you credit.  As a credit report tip, make sure that your credit history is clean.  Your previous loans should be paid on time because it would reflect on your credit history.

Make sure that your public records are also clean before you will apply for credit or loan. Your public records contain information about your credit worthiness, such as tax aliens, court judgment and bankruptcies.

If your public records revealed that you have cases of bankruptcies or tax evasions, you’ll probably have a hard opportunity to get credit or loan. As a credit report tip, pay your taxes correctly and  on time.

The next information that is found in your credit report is the report inquiries. This is the section that includes all credit granters who have received a copy of your credit report. It is also the list of companies that have received your name and address and offered you credit.

How can this information affect your credit report? Take this credit report tip about how can you improve your report inquiries.  Make sure that the companies get your name as their potential customer. This means that you meet their criteria for an offer of credit, insurance or product.  This would tell that you can sustain a good credit report at all times.

Another important information in your written in your credit report are the dispute statements. Most credit bureaus allow both the consumer and the creditor to make statements to report what happened if there is a dispute about something on the report.

Never underestimate the importance of information in your credit report. These credit report tips are useful if you keep on eye on the information that are written in your credit report.

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