A credit report keeps you posted about your credit standing. It is also the best tool to monitor whether you are being victimized by identity theft. Obviously, if there is something in your record that you are clueless about, most likely someone else has used your identity to engage in unlawful activities.
Every American is permitted to one free credit report [http://www.free-credit-reports.com] annually. In the United States, there are three companies that are deemed appropriate to supply reports -- Equifax, TransUnion and Experian. If you want your report to be accessible on-line, it is available immediately. Otherwise, you will have to wait about two weeks for it to arrive via mail when you order it through phone. When requesting for a credit report, you will need to supply some information like name, address, SSN and birth date. There are other pieces of information that can be asked like amount of monthly amortization, something that only you would know, to preserve the security of your file.
The credit report will have the following information: your personal details such as name, current and previous home address, SSN and employment records; Credit History; Public Records; and Inquiries by a third-party organization. Your report will not reflect savings bank account information, medical history, and fully paid transactions by cash or check. It also should not have details such as your race, gender, or religion.
The credit history portion will reflect the following:
* Bills payments history including credits from retail stores, and finance & mortgage companies;
* Kind of credit applied and when the account was opened;
* The amount of loan, monthly payments, and how much remains unpaid;
* Nature of loan and whether it is under your name or co-signed with another person; and
* Payment codes where a lower number means a better credit rating.
The portion on Public Records is the one part which you would wish to remain blank. If you earn a record in this portion, most likely your credit score is greatly reduced. It contains records of bankruptcies, tax liens and court judgments in relation to financial matters. However, it does not cover arrests and criminal citations that are not money-related.
The last portion lists the companies or authorized organizations which requested for your credit report. There are hard inquiries where you initiate the filing of the request by filling in a credit application. The ones from companies who want to send out promotional information are called soft inquiries.
Review your credit report thoroughly. Once you see a discrepancy, you should act upon it and report it immediately. This just might be a sign that you have been victimized by identity theft.
Every American is permitted to one free credit report [http://www.free-credit-reports.com] annually. In the United States, there are three companies that are deemed appropriate to supply reports -- Equifax, TransUnion and Experian. If you want your report to be accessible on-line, it is available immediately. Otherwise, you will have to wait about two weeks for it to arrive via mail when you order it through phone. When requesting for a credit report, you will need to supply some information like name, address, SSN and birth date. There are other pieces of information that can be asked like amount of monthly amortization, something that only you would know, to preserve the security of your file.
The credit report will have the following information: your personal details such as name, current and previous home address, SSN and employment records; Credit History; Public Records; and Inquiries by a third-party organization. Your report will not reflect savings bank account information, medical history, and fully paid transactions by cash or check. It also should not have details such as your race, gender, or religion.
The credit history portion will reflect the following:
* Bills payments history including credits from retail stores, and finance & mortgage companies;
* Kind of credit applied and when the account was opened;
* The amount of loan, monthly payments, and how much remains unpaid;
* Nature of loan and whether it is under your name or co-signed with another person; and
* Payment codes where a lower number means a better credit rating.
The portion on Public Records is the one part which you would wish to remain blank. If you earn a record in this portion, most likely your credit score is greatly reduced. It contains records of bankruptcies, tax liens and court judgments in relation to financial matters. However, it does not cover arrests and criminal citations that are not money-related.
The last portion lists the companies or authorized organizations which requested for your credit report. There are hard inquiries where you initiate the filing of the request by filling in a credit application. The ones from companies who want to send out promotional information are called soft inquiries.
Review your credit report thoroughly. Once you see a discrepancy, you should act upon it and report it immediately. This just might be a sign that you have been victimized by identity theft.