Personal Finance and Investing

Although every one of the credit reporting agencies is going to format and then report their information in a different and unique way, all of the various reports are going to contain basically all of the same information and categories. Your SSN or social security number will be listed, along with your date of birth, your employment information and other information that is used in order to identify who you are. These are not factors that are going to be used in determining your credit scoring but rather they are used to make sure that you are who you say that you are. Here are some of the categories of information that you will find within your credit score:

Your identifying information, including your name, your address, your social security number, the date of your birth and any employment information is contained within your credit report. All of this information is used in order to identify you. These factors are not actually used for the purpose of credit scoring. When updates are made to this information, it is typically as a result of information that you have supplied to bankers and lenders.

Your trade lines are your credit accounts, and there is a trade lines section that is contained within your credit report. Lenders are responsible for reporting on all of the various accounts that you have established with them. They report on what type of account it is, such as a debit account, an automotive loan or a mortgage loan, when the account was actually opened, what your credit limit is, what your loan amount is, what account balance you are currently carrying and also whether or not you have made your payments on time.

Your credit inquiries are contained within your credit report. Whenever you apply for a credit card or a loan, you are authorizing the lender that you are working with to request a recent copy of your personal credit report. This is how your inquiries end up appearing on your credit report. The section for inquiries on your credit report is going to contain a list of everyone that has ever accessed your credit report in a period of 24 months or two years. The report that you have will list both the voluntary and involuntary requests. Voluntary inquiries are those that are spurred by your own requests while involuntary inquiries on the other hand are inquiries where your report is ordered for pre-approval rather than at your request.

Collection items and public records are contained within your credit report as well. Credit reporting agencies are constantly collecting public information from county courts, state courts and other places so that they can compile the information including overdue debt information that comes from collection agencies. Public record info may also contain foreclosures, bankruptcies and suits, wage attachments, judgments and liens as well.

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