What To Look Out For In Your Credit Report In 2022

Credit Report Card

You might be surprised to see what type of information is on your credit report.

You will have the expected personal information such as:

  • Your Name
  • Address (current and old)
  • Date of Birth

Your report will also record all of your past and present employers.

Other information will be available such as social security numbers and, naturally, everything relating to any financial transactions that you have entered. You can pull your credit here from a trustworthy source if you’re interested in seeing your history now. 

What Kind Of Financial Transactions Can Be Found In a Credit Report?

Every loan will be recorded along with the amount of the loans and the dates that they were opened. It will include your current loans and any loans that you have had in the past. There will be notes that detail any late payments or defaults of loan repayments. The amount of credit for each loan will be recorded, and details of who the lenders are.

Details of any bankruptcies, taxes unpaid or outstanding, and any problems with collection agencies will all be documented. This type of information will affect your credit score and make it hard to increase your credit. Foreclosure, civil lawsuits, missed child support payments, and any loan defaults will be available for anyone to see when they inquire. You will even be able to see who has made an inquiry as that will be recorded on your report as well.

Why Is It Important To Worry About This History? 

This information will remain for two years, and any lender will be able to see it. Too many of these won’t look good on your credit report. There is a lot of information on these reports. All of it is important, so you should be diligent when checking to see that everything is accurate and get anything that isn’t correct fixed as soon as possible. We recommend you to look for credit repair services if this is the case. 

Even information such as previous employment needs to be accurate as prospective employers can sometimes use this information when deciding on your career. This could affect your income earning potential and ultimately debt repayment.

Leave no stone unturned, as they all matter regarding your credit records.