Current Rate Values
 Prime Rate 3.25 as of 2012-06-15
 WSJ Prime Rate (Wall Street Journal) Prime Rate 3.25% (a decrease of 75 basis points occurred on December 16, 2008)
 Federal Funds Rate 0.18 as of 2012-06-15
 Discount Rate 0.75 as of 2012-06-15
 1 Month CD Rate 0.2 as of 2012-06-15
 3 Month CD Rate 0.32 as of 2012-06-15
 6 Month CD Rate 0.49 as of 2012-06-15
 4 Week Treasury Bills 0.05 as of 2012-06-15
 3 Month Treasury Bills 0.09 as of 2012-06-15
 6 Month Treasury Bills 0.15 as of 2012-06-15
 1 Year Treasury Bills 0.17 as of 2012-06-15

What Is Inside Credit Report

What Is Inside Credit Report

By this point in time we all know, or at least we should, that we can get a free copy of our credit report at least once per year from each of the three credit rating agencies, TransUnion, Experian and Equifax. It is also common knowledge that our credit report affects virtually every aspect of our lives from the jobs we apply for to getting loans and credit cards.

However, what many of us question is exactly what is inside credit report? There are actually four areas in a credit report which pertain to identifying information, credit information, public records and of course recent inquiries. When asking what is inside credit report it is important to understand each of those broad categories and the information contained within as well as the weight each category carries in terms of creditworthiness.

What Is Inside Credit Report Identifying Information?

Of course identifying information is used to keep you separate from all the other thousands of people across the country that may have your same name. Therefore, identifying information begins with your name and any aliases you may have used which are known to the reporting agencies. This section will also list your date of birth, social security number and your current address.

Any previous addresses known to the credit bureau may also be available. In this section employers, current and past, may be listed as would the same kinds of information about your spouse if you are married. Although this area does seek to make absolutely certain that you are the person being referred to, mistakes do happen so carefully check every last detail for accuracy.

What Is Inside Credit Report Credit Information?

This is perhaps the most important area of your credit report for you to understand because this is given the most weight in terms of creditworthiness. Before understanding what information would be listed here, it is vitally important to make sure you know how important it is to make sure these accounts really belong to you. With the rise of identity theft and fraud in this country, many consumers find that they have been negatively affected by accounts they were not responsible for.

Credit information in your credit report pertains to any accounts you have with such entities as retail stores, banks, credit card companies, utility companies and other types of lenders/creditors. Within this area, accounts are listed by the type of loan or credit such as student loans, mortgages, revolving lines of credit and installment loans. Also listed in this area would be the credit limit or the amount of the loan and of course your payment history over the past two years. Prospective creditors will pay special attention to this area.

What Is Inside Credit Report Public Records?

This particular area of your credit report really only carries weight, for the most part, in so far as it reflects on why it is being examined. For example most of the reporting agencies list such public records as tax liens, bankruptcies and monetary judgments (i.e. evictions) filed with the courts. Some of the reporting agencies may also record non-monetary judgments which may or may not affect how your credit history is viewed by the person/business reviewing it. These records can be from either state or county courts.

What Is Inside Credit Report Recent Inquiries?

Anyone who runs your credit history will be recorded in your credit report. However, some are not visible to just anyone. There are hard inquiries and soft inquiries and only hard inquiries will negatively affect your credit score. Hard inquiries are run when you are applying for credit, for example and soft inquiries are usually run by such entities as prospective employers. Soft inquiries do not affect your credit score and are not visible on your report.

You might rightfully ask what is inside credit report information and how it can affect your life, but it is vitally important that you check for errors and fraudulent entries. These are among the quickest and easiest to fix while it may take a good deal of time to repair your credit if you have been consistently late on paying bills. All information is important, but some carries more weight and credit scores are not part of your credit report.

 
Disclaimer | Sitemap