What Is on a Credit Report?
Most people know they have a credit report, but not everyone knows what it actually includes. Lenders, landlords, and even some employers use your credit report to decide whether to approve you, so it pays to know what’s inside.
A credit report is a detailed record of your borrowing and repayment history. It covers your personal information, credit accounts, inquiries, and certain public records.
When you know what’s on your credit report, you can spot errors, protect your credit score, and be better prepared for financial decisions like getting a mortgage or applying for a credit card.
What Is a Credit Report?
A credit report is a detailed summary of your credit history, collected and maintained by the three major credit bureaus: Experian, Equifax, and TransUnion. Each credit bureau may have slightly different information about you, but the main categories are the same.
It’s important to note that a credit report is not the same as a credit score. A credit report is the data about your accounts, payments, and inquiries. A credit score is a number calculated from that data to show how risky you might be as a borrower.
Why Credit Reports Matter
Your credit report is one of the most important financial tools tied to your name. Lenders review it to decide whether to approve you for credit and what interest rates to offer. Landlords may check it before renting to you, and in some cases, employers and insurance companies also review it.
Errors on a credit report can cost you in higher rates or denied applications, which is why reviewing your credit report regularly is so important. By knowing what’s on it, you can take control of your financial reputation.
The Four Main Sections of a Credit Report
Every credit report is broken down into four main categories. Each section plays a different role in showing your credit history and financial behavior.
Personal Information
The first section lists details that confirm your identity. While this information does not affect your credit score, it’s important to check for accuracy since mistakes can lead to confusion or even fraud.
- Full name and aliases: Any names you have used on credit applications.
- Date of birth: Used to match your credit history with your identity.
- Social Security number: Only the last few digits are shown for security.
- Current and past addresses: Helps confirm your residence history.
- Employment history: Employers you listed when applying for credit.
Credit Accounts
Credit accounts, also called trade lines, are the core of your credit report. They show how you borrow and repay money. Lenders look closely at this section to see if you manage debt responsibly.
- Account types: Credit cards, mortgages, auto loans, student loans, and personal loans.
- Account details: Lender name, partial account number, type of account, balance, credit limit, and payment history.
- Account status: Whether the account is open, closed, current, or past due.
Credit Inquiries
This section shows who has checked your credit report. Not all inquiries carry the same weight, and knowing the difference helps you avoid surprises.
- Hard inquiries: Appear when you apply for new credit, such as a loan or credit card. These may lower your credit score slightly for a short time.
- Soft inquiries: Appear when companies check your credit for background purposes or when you check it yourself. These do not affect your credit score.
Here’s a quick side-by-side comparison:
| Feature | Hard Inquiry | Soft Inquiry |
|---|---|---|
| Triggered by | Credit application | Background checks, preapprovals |
| Visible to lenders | Yes | Sometimes |
| Affects credit score | Yes (small, temporary) | No |
| Example | Applying for a mortgage | Checking your own credit |
Public Records and Collections
The last section covers negative financial events that can have a serious effect on your credit score. While some types of public records are no longer reported, others still appear and remain for years.
- Bankruptcies: Chapter 7 and Chapter 13 filings.
- Foreclosures: Properties lost due to unpaid mortgages.
- Tax liens and judgments: These are no longer widely included, but bankruptcies remain.
- Collection accounts: Past-due debts such as medical bills, utility balances, or credit cards sent to a collection agency.
- Duration: Negative marks can stay on your credit report for seven to ten years, depending on the type.
How Long Information Stays on a Credit Report
Not everything stays on your credit report forever. The length of time depends on the type of account or negative item.
| Type of Information | How Long It Stays |
|---|---|
| Positive, open accounts | As long as active |
| Closed accounts in good standing | Up to 10 years |
| Late payments | 7 years |
| Collection accounts | 7 years |
| Chapter 7 bankruptcy | 10 years |
| Chapter 13 bankruptcy | 7 years |
What’s Not on a Credit Report
Your credit report focuses only on your borrowing and repayment history. Many personal details are not included and have no impact on your credit score.
- Income: Lenders may ask for it on applications, but it does not appear on your credit report.
- Bank balances: Checking and savings account amounts are not listed.
- Marital status: Whether you are single, married, or divorced is not shown.
- Religion, race, or political affiliation: Personal beliefs or affiliations never appear on a credit report.
How to Get Your Credit Report
You can review your credit report for free each year through the federally authorized website AnnualCreditReport.com. In some periods, such as during the pandemic, free reports were available weekly.
You can also buy your credit report directly from each credit bureau or sign up for credit monitoring services if you want regular updates.
How to Read and Review Your Credit Report
The first time you read a credit report, it may feel overwhelming, but breaking it down into steps makes it easier.
- Start with personal information: Check your name, address, and Social Security number for accuracy.
- Review credit accounts: Look for correct balances, payment history, and account status.
- Check credit inquiries: Make sure you recognize any hard inquiries.
- Look at public records and collections: Confirm whether negative items are reported accurately and within the correct time frame.
Regular reviews can help you spot errors and protect against identity theft.
What to Do If You Find Errors
Mistakes on a credit report are more common than you might think. If you find one, you have the right to dispute it.
- File a dispute with the credit bureau: Each credit bureau allows you to submit disputes by mail, online, or by phone.
- Provide documentation: Include copies of payment records, account closure letters, or other proof.
- Wait for an investigation: Credit bureaus typically have 30 days to review and respond.
- Know your rights under the Fair Credit Reporting Act (FCRA): This law ensures you can challenge inaccurate or incomplete information.
Final Thoughts
A credit report is more than a piece of paperwork—it’s the financial story lenders use to decide whether to trust you with credit. Knowing what’s inside puts you in a stronger position when applying for loans, renting an apartment, or even job hunting.
By checking your credit report regularly, you can correct errors before they become problems and keep your credit score in good shape. It’s one of the simplest steps you can take to protect your financial future.
