CreditReport.com Details
There are two types of credit reports available from Credit.com. One is a single bureau credit report, which includes details and scores from the user’s choice of credit bureau. The other is a tri-merge or three-in-one credit report, where reports from all three bureaus are combined, with three different scores. The site is affiliated with TransUnion and offers extra features and rates for those who opt for TransUnion credit reports. Users are encouraged to avail of the three-in-one credit report, as some smaller banks don’t report to all three credit bureaus. Both reports contain the following sections:
Personal information: This is where all the basic details about the person can be found such as name, address, contact information, and social security number. Previous addresses may be included if the person has recently moved.
Summary: This section sums up all the account details in a simple, readable table. It includes all open and closed accounts, the balances on each account, any inquiries made into the report, and any delinquencies on record.
Credit information: All the credit accounts under the customer’s name, as reported by the chosen credit bureau, will appear in this section. It also includes the payment history, total debt, date each account was opened, and names of the co-signers (if any).
Consumer statement: The customer is allowed to add his or her own statements to the report. This can be useful for justifying negative entries, such as unsolicited public collections. The statement will appear on the report for two years.
Associated addresses: This section lists all the addresses where the customer has stayed in recent months or years, according to the information provided by the credit bureaus. The information in this section can be used for spotting errors and potential identity theft, as any false addresses will also turn up.
Employment information: This shows all of the customer’s current and previous employers. Any periods of unemployment or self-employment will be reflected in this section. Details of each job, including address, position, and salary, may be included, although they don’t necessarily affect credit scores.
Alias information: If the person is listed under any other name, the information will appear in this section. This information includes legal aliases for individuals and DBA names for businesses.
Creditor contact information: This is where detailed information about each creditor is provided, including phone numbers and addresses. This allows the customer to contact his or her creditors in case of problems such as billing issues and potential identity theft.
The credit score is calculated based on the details on the credit report. The score provided by the site is the FICO score, which was developed by the Fair Isaac Corporation to help lenders assess the risks of lending to individual consumers. It is generally considered the standard in assessing credit risk, especially among mortgage lenders. FICO scores range from 300 to 850, with 680 considered as an acceptable minimum. myFICO, Fair Isaac’s consumer site, provides detailed guides on understanding and improving one’s credit scores.