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Explain what a credit report is and list five kinds of information found on a credit report.
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A credit report is a detailed record prepared by a credit bureau that summarizes a person’s past and current borrowing and repayment behavior. Lenders, landlords, insurers and others use it to evaluate creditworthiness and the risk of lending or extending services.
Five kinds of information commonly found on a credit report
- Identifying information: name(s), current and former addresses, date of birth, Social Security number (or national ID), and employment history.
- Credit accounts (trade lines): details of credit cards, mortgages, auto loans and other accounts — lender name, account type, date opened, credit limit or loan amount, current balance and account status.
- Payment history: records of on-time and late payments for each account, often showing how many days late (30/60/90+), and any patterns of missed payments.
- Public records and collections: bankruptcies, tax liens, civil judgments, and accounts sent to collection agencies.
- Credit inquiries: a list of companies that have requested the report recently — hard inquiries (from applications) and soft inquiries (pre-screening or personal checks).
Note: A credit report differs from a credit score. The report contains the raw data; the score is a numeric summary calculated from that data. Content and format can vary by country and by the credit bureau.
Five kinds of information commonly found on a credit report
- Identifying information: name(s), current and former addresses, date of birth, Social Security number (or national ID), and employment history.
- Credit accounts (trade lines): details of credit cards, mortgages, auto loans and other accounts — lender name, account type, date opened, credit limit or loan amount, current balance and account status.
- Payment history: records of on-time and late payments for each account, often showing how many days late (30/60/90+), and any patterns of missed payments.
- Public records and collections: bankruptcies, tax liens, civil judgments, and accounts sent to collection agencies.
- Credit inquiries: a list of companies that have requested the report recently — hard inquiries (from applications) and soft inquiries (pre-screening or personal checks).
Note: A credit report differs from a credit score. The report contains the raw data; the score is a numeric summary calculated from that data. Content and format can vary by country and by the credit bureau.
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