What information does a consumer credit report contain?
Here is a general overview of the different sections in a consumer credit report: • Personal Identification Contains key identification information, such as your name, address, birth date and Social Insurance Number (SIN). • Inquiries Lists all individuals or organizations that have requested a copy of your credit file in the past three years. When you apply for a loan, you authorize your lender to ask for a copy of your credit report. This is how inquiries appear on your credit report. The inquiries section contains a list of everyone who accessed your credit report within the last two years. The report you see lists both “voluntary” inquiries, spurred by your own requests for credit, and “involuntary” inquires, such as when lenders order your report to offer a pre-approved credit limit in the mail. • Public Record Information Contains information about secured loans (liens), bankruptcies, garnishments and/or judgments • Third-Party Collection Agency Contains information about any inv
A consumer credit report includes four types of information: Identifying information: for example, your name, current and previous addresses, telephone number, reported variations of your Social Security number, date of birth, and current and previous employers. This information comes from your credit applications, so its accuracy depends on your filling out the forms clearly, completely and consistently each time you apply for credit. Credit information: specific information about each account such as the date opened, credit limit or loan amount, balance, monthly payment, current status and payment pattern during the past several years. The report also states whether anyone else besides you (your spouse or cosigner, for example) is responsible for paying the account. This information comes from companies that do business with you. For open accounts, positive credit information may remain on your report indefinitely; most negative information remains up to seven years. Closed accounts
Here is a general overview of the different sections in a consumer credit report: 1. Personal Identification Contains key identification information, such as your name, address, birth date and Social Insurance Number (SIN), Social Security Number (SSN). 2. Inquiries Lists all individuals or organizations that have requested a copy of your credit file in the past three years. 3. Public Record Information Contains information about secured loans, bankruptcies and/or judgments. 4. Third-Party Collection Agency Contains information about any involvement with a collection agency trying to settle a debt. 5. Trade Information Provides details of your credit transactions and shows whether payments are being made. Each of these “trade” items is evaluated by the credit grantor. The evaluations are based on industry standard ratings, the most common of which use a range from R0 to R9. R0 indicates you are too new to rate; R1 indicates that you pay within 30 days of billing or as agreed; R9 indica
