Credit Reports & History

A credit report is a record of how you have paid your credit card debt and other loans. A credit report shows how much debt you have, if you have made your payments on time, or if you have not paid back some loans at all. Creditors use this report to decide whether you qualify for a loan or credit card, and landlords, employers, and insurers can base an offer for an apartment or job or a policy on the information. Credit reports contain the following information:
  • Social Security numbers, current and previous addresses, nicknames, spouse's name, year of birth, plus current and previous employers; 
  • Records of loans, credit cards, bank accounts, and retail store accounts; 
  • Public information on bankruptcy, tax liens, or legal judgments against you; 
  • Names of people who have obtained copies of your credit report within the last six months (two years for employment purposes).
You can get a copy of your credit report by contacting each of the three main credit bureaus. A credit bureau is a private record keeping business that maintains information about and how you use credit to pay your bills. Since reports may vary from bureau to bureau and errors may exist in one report and not another, you should get copies of your report from each credit bureau. 
Equifax Information Services, LLC
www.equifax.com 

Experian National Consumer Assistance Center
www.experian.com 

TransUnion Consumer Disclosure Center
www.transunion.com  
Credit reports are often accurate; however, errors do occur occasionally. It is important to review your credit report at least once a year for errors or outdated information that can affect credit scores and your ability to qualify for a loan at a competitive rate. 

It's relatively easy to correct errors. You simply send the credit-reporting agency a letter notifying them about the error. The agency is required to investigate the complaint within 30 days and respond with its results. If the agency finds that the information in the report is inaccurate, the creditor must notify the other major credit-reporting agencies of the error. If the credit reporting agency does not find an error, but you still believe the report is inaccurate, you can contact the creditor directly to resolve the problem. You also have the right to submit a written statement of up to 100 words that will appear on your credit report to explain the problem.