20 Feb What’s in a Free Credit Report?
When you think about a free credit report, you might wonder what you could find. What troves of treasure about financial health could you find for free? Free credit reports act as Polaroids of your credit history. One could liken it to a summary of your financial behaviour and information.
What’s inside your free Credit Boost credit report?
Behold! This is what’s inside a free credit report, categorised as a soft inquiry.
Personal information
Inside your credit report, you’ll find basic particulars about who you are. This is the first thing creditors and companies see when flicking through your financial identity. Insurance companies, landlords, lenders, banks, and potential employers see:
Your full name. This includes any aliases or other names reported by creditors in the past.
Your date of birth. Your DOB differentiates you from people who have the same name. So, one John Doe might be born on April Fool’s, but you could be born on Christmas Day.
Current and past home addresses. Where you stay is important, because this is the medium through which creditors can reach you, should you choose to default. Also, the number of times you move is a good indicator of how stable you are, which translates to potential risk.
Phone numbers. Your telephone number helps with communicating with and verifying you.
Credit Accounts
Also, your credit accounts list every detail of your paid and unpaid credit.
List of all your credit accounts. The list includes credit cards, mortgages, auto loans, student loans, and other lines of credit.
Credit guarantor. A guarantor is the company that signed off on or issued your loan.
Account type. Details whether your lines of credit are revolving (say a credit card) or an instalment loan (a mortgage, for instance).
Account opening date. How long ago you started your accounts tells creditors about your responsibility over time and credit length.
Credit limit or loan amount. This is the maximum amount you’re allowed to borrow for each account or loan.
Current balance. The amount you owe on each account.
Payment history. Perhaps the most important section. The payment history section illustrates your record of on-time or late payments for your accounts.
Inquiries. These show who has recently accessed your credit report, which can help identify potential fraud.
Public Records
Public records include bankruptcies, tax liens, and judgments.
Bankruptcies. If you have declared bankruptcy, it will show up on your credit record, including the sort you filed for.
Tax liens. Should you have unpaid government taxes, it will impact your creditworthiness and report.
Judgments. The court might have ruled against you for defaulting, leaving a nasty mark on your credit record.
How to get a free credit report
Get a free credit report from Credit Boost right here. You can scrutinise your credit report in minutes.
If you need any help understanding your credit report, we’re here to help. Contact Credit Boost now for help with your credit report today!