education :

How To Read Your Credit Report

— Financial Education Course

Consumer Credit is a line of credit that is extended for personal or household use.
According to the Fair Credit Reporting Act, You have the rights to:
  1. To receive a copy of your credit report
  2. To know the name of anyone who received your credit report in the last year -or- in the last 2 years for employment purposes
  3. To receive a free copy of your credit report when an application is denied because of information on your report
  4. To receive the name of the bureau that supplied a report which formed the basis for a denial of credit or employment
  5. To add a summary explanation to your credit report
Bad Credit Can
  • Affect your ability to get more credit
  • Affect your ability to get or keep a job
  • Affect your ability to obtain promotion, reassignment or retention

Obtaining a Credit Report

Obtaining a copy of your Credit report can be FREE and is very easy.

You can request individual copies form the major reporting agencies or you you can request a consolidated report from Annual Credit Report.com

Prices can vary from $6.00- $12.95 depending on the credit reporting agency
NOTE: The Credit Score is not necessarily included in your request for a credit report. There may be additional costs for this information.

Free Annual Credit Report
www.annualcreditreport.com
877-322-8228

Equifax
www.equifax.com
800-865-1111

Experian
www.experian.com
888-397-3742

Trans Union
www.transunion.com
800-916-8800

Categories of Information in Credit Reports

Credit worthiness is a pre-determined set of criteria developed by a lender to qualify an individual for some form of credit. The criteria can include items such as the review of previous credit history, occupation, length of service and current property status.

  • Types of Credit in Use
    Do you have a healthy mix of credit cards, retail accounts, installment loans, etc?
  • Number of Inquiries
    Have you made frequent applications for credit?
  • Status of Credit Lines
    Have you handled them responsibly?
  • Public Information
    Have you filed for either Chapter 7 or Chapter 13 bankruptcy in the last 10 years?
Requirements Relating To Information Contained In Consumer Reports
  • Bankruptcy = 10 years
  • Suits & Judgments = 7 years
  • Paid Liens = 7 years
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