Credit report refresher course powered by the lending team from Installment Loans Network.com a leading consumer lending and financial resource website that matches borrowers with online loans from $300 to $100,000 or more online. Even people who consider themselves to be credit gurus can occasionally get confused about the inner workings on the credit system. It’s a big system full of little details. So, occasionally this blog is going to review a few of the basics. Today’s simple question: What’s on a credit report?
Your credit report includes:
• Name
• Social Security number (often masked for privacy)
• Date of birth
• Current and former address
• Current and former employer’s name and address
• Mortgage account balances, payment history and details
• Credit card account balances, payment history and details
• Loan account balances, payment history and details
• Old, closed account data going back 7+ years
• Collection records
• Public records including tax liens, bankruptcy filings and judgments
• Inquiry records (applications for credit, cell phones, loans, etc)
• Consumer statements and fraud alert records
Your credit report does not include:
• Your credit score (this is a separate entity)
• Income
• Race
• Gender
• Driver’s license number
• Checking account records
• Utility payment records
• 401(k) or investment information
• Criminal records
• Business accounts (unless under your name)
• Religion
• Your spouse’s or relative’s records
• Insurance records
• Paid tax records
• Payday loan accounts
• Rental payments
Knowing what is and is not included on your credit report can be surprisingly important. Next time a misguided credit counselor or lender advises you that increasing your income improves your credit score, you’ll have all the facts to inform them that it’s not the case.
