What does your credit report contain?

Your credit report determines your creditworthiness. It is perhaps the most significant proof of your trustworthiness. A credit report contains all your credit activities and tells the banks and creditors if your have been regular with your payments in the past.

First up, your credit report contains your personal details. Your name, address SSN, phone number, date of birth and your current and previous employers form a part of your credit report.

Then of course is the credit information. This includes your lenders and credit report and loans you have with

• Banks
• Retailers
• Credit card issuers
• Other lenders

The most important part of your credit report is public record information. This is contained in state and county court records like

• Tax liens
• Monetary judgment
• Bankruptcies

Bankruptcies stay on your credit report for as long as 10 years and other public record information form a stigma in your credit report for as long as 7 years. These make your credit score dip to the maximum.

Inquiries also go down as a big negative on your credit report. Applying for too many credit cards in a short span of time or applying for a higher credit limit may prompt inquiries. So try to avoid inquiries.

Similarly safeguard your credit against identity theft. To do this you need to check your credit report on a regular basis. Make sure you get your hands on your credit report from one of the major credit reporting bureaus.