A consumer credit report contains vital information that lenders use to make decisions whenever you apply to borrow from a creditor.
Personal Information
A credit report will show your current address and any previous addresses on record. If there is a name change, the previous name will also appear. Social Security number and date of birth are recorded here as well.
Employer
Current and past employers' names, cities and states appear if the data has been reported. Also, the position held at the company will often be shown.
Public Records
Any legal issues are disclosed. Bankruptcies, foreclosures, lawsuits or charge-offs will be listed.
Alerts or Warnings
Any type of alerts will be listed in this section. This includes problems with the Social Security number or name or to warn the lender of any fraud possibilities.
Lender Information
A 24-month pay history will be displayed. Codes are used to show if the applicant pays on time, 30 days, 60 days or 90 days late.
Inquiries
Whenever a lender views your credit report, an inquiry will be notated. This lets creditors know how many lenders are viewing your credit.
Consumer Statement
You have the right to include a statement in your credit report. The statement may be used to explain reasons for credit problems or any issue you might want the lender to be aware of.
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