Ever wonder What is included in your annual credit report? Here is what those loan officers, credit card companies and possibly even possible employers are seeing and how it affects your free score.
Your free credit report online does include personal information. This information is collected from from credit applications you have completed in the past. This includes your name, current and previous addresses, date of birth, Social Security Number. Notably, your current and previous employers are also included in these reports.
Another thing potential lenders and employers can see in your report is your credit history. Most of your credit report is about credit accounts that were you or a spouse. Creditors supply the reporting agencies with details about your accounts, such as the date it was opened, the credit limit and its terms. Importantly, it also contains information about your balances, your payment history and any late payments. Generally speaking, negative information is removed from your reports after seven years; however, this doesn’t mean that you don’t still owe the money! The good news is that accounts paid in full generally remain on your credit file for ten years.
The three major credit reporting bureaus also report any inquiries made concerning your credit score during the last two years. This means they can see when your report is shown to a lender, service provider or even a landlord.
Public records concerning your free credit are also noted on your credit report. These records are compiled from government documentation and court records. They include any liens or bankruptcies as well as any money you may owe for unpaid child support or taxes. A bankruptcy will stay on your record for seven years.
What isn’t in my free credit report?
Credit reports don’t include information about your checking and savings accounts, charge offs, or any debt that is older than seven years old. Your gender and ethnicity are also excluded as well as any religious or political affiliations you may have. Your medical history and criminal record (or lack thereof) are also not included in your free credit report.
How long do things stay on my annual credit report?
Credit Accounts paid in full remain on your account for up to ten years from the date of the last activity of that account. Accounts that are not paid in full will stay in your credit report for seven years from the time of the last activity on that account. The last activity is the last time the credit line was used or that a payment was made on that credit account. Unpaid accounts will damage your credit score for that seven year period. Late payments stay on your account for seven years after the date they were supposed to have been paid. Judgments typically remain on your credit file for seven years from the date filed, whether paid or not.
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