What makes up of a credit report?

Credit reports revealed:

Have you ever applied for a car loan, or house mortgage loan or new credit cards and after the creditors viewed your credit reports, you were dis approved? This exact example what a credit reports can do with your future loan endeavor. Credit reports will show on how you pay your loan, whether you are on time or delay or how much debt do you have.

A credit reports are the accumulation of  your financial (loan/ debt)  information like how you make your debt payment, how much of your credit is available , your monthly obligations and other information that can help the creditors decide whether your good risk borrower or not. In general, it really gives much impact to your life. It does not say that you are a bad borrower or a good one, but it provides all the data that a creditor needs in order to decide if you are a good borrower. The credit reports speak for it... Creditors go to the Credit Reporting Agencies (CRA) for the credit reports of a particular person before giving their final decision on your loan application.

What is made up of the credit reports?

Credit reports have all information about your credit, which includes:

·         PERSONAL INFORMATIONS

This information includes your real name, current and previous addresses, telephone numbers, social security number, your spouse name, and your children, your present and previous employers and your present marital status.

·         CREDIT HISTORY

This information includes your monthly paying status of your retail store bills, bank, mortgages companies, financial institutions, and other finance companies that grants you a credit. It shows up information of each account like what time it was opened, how much is the monthly fees, the interests, and the date you paid and the date you closed. If you have some missed payments, it will appear as well.

·         PUBLIC RECORDS

This information includes tax liabilities and penalties, bankruptcy or court judgment. This information is readily available as public records, which really affects your credit scores.

·         REPORT INQUIRIES

This is a record of all credit granters, which give you an authorization to view your credit records. This is part of your applications on their loan program. It also included the list of companies that offers you pre-approved credit cards offer.

·         DISPUTE  STATEMENTS

If you have some queries, disputes about your debts, then it will appear on your credit reports as well. It is not one-sided information but also included on this report the creditor's version of the dispute.

Only information about your Bank account and balances, religion, race, criminal records, driving records and health are not included in the credit reports. Lending institutions and companies cannot get your credit reports unless you have a business dealing with them. If you applied for as loan with them, they require having a permission to look upon on your credit reports. If you would not allow them then you will also not be granted with the loan.