FNTN

What is a Credit Report?

What is inside one’s credit report? A California free credit report is a document containing a factual record of your credit history. In other words, credit card payments, loan payments, rent payments, car payments, etc. Credit grantors, the people who give you money or credit cards, are permitted by law to review credit reports to objectively determine whether to grant a consumer credit. Consumer debt is reported by lenders and whenever credit payments are made, this information is forwarded to the credit bureaus. Information within a consumer credit report comes straight from the companies. At the Federal Citizen Information Centre website you will find a Credit Reports and Scores Handbook.

Your California free credit report has an effect on your life in many different ways. This is what allows lenders to see that you are a safe financial risk in order to give you a home loan and many other financial services. For more tips on credit scores and how you can improve them, have a look at the Consumer Federation of America website.

Errors in Credit Reports

Sometimes there are errors on your California free credit report. This is no cause for extreme alarm. These errors are somewhat normal and can usually be taken care of by writing a letter or making a phone call to the agency that reported the item. If it is truly an error, the agency will usually remove it right away.

Personal Information in your Credit Report

Some of the information that is available on your credit report is very personal; therefore it is important that you are aware of this so you can take care to avoid identity theft. This more sensitive information includes your name, your current and past addresses, your social security number, your spouse’s name, your year of birth, and your employment history.

Other general information available on your credit report is credit/charge accounts you have with credit card companies and retailers, mortgages, personal loans, and car loans. But there is also another set of personal information on your credit report that is available to the viewer. This information includes any bankruptcy history, tax liens, and monetary judgments. Keep in mind that items like bankruptcy do not stay on your credit report forever. If you check with the attorney that helped you file, they can tell you about how long it will remain on your credit report.

Identity Theft

Identity theft is a risk with your credit report. It is important to keep an eye on your credit report for any unusual activity, this will allow you to fix the problem and minimize the damage to your overall financial picture.

Tweet This Post