All About Your Credit Report
Don’t underestimate the power of your credit report. The
information contained on it can mean the difference between
getting a loan or being turned down, a low interest rate or a
high interest rate, or whether you’ll be able to get a new
charge card. Of course it contains the basic information
including name, address, telephone number, social security
number and your date of birth.
But what you may not know is there’s more to your credit report
information to consider. For instance, alias names are listed on
the report. Your former address or addresses are also included
as are old telephone numbers. If you have an unlisted telephone
number, it is listed with the rest of your report information.
Many people are surprised to find that unlisted phone numbers
can be included in this document, but they can be.
Another piece of important information that is included is your
employment history. This may not seem relevant or even fair but
creditors need to determine a person’s capacity to make timely
payments. In order to do so your employment history has to be
included in the credit report information to establish that you
have a stable source of income.
Some people are shocked to discover that their loan or credit
applications are turned down simply because they have just
started a new job. A person with little history included on
their credit report information may not get a loan or a line of
credit if they have only been working for a company for a few
weeks or months. The person has demonstrated no stability and
there is little else the creditor has to go by aside from
payment history.
information contained on it can mean the difference between
getting a loan or being turned down, a low interest rate or a
high interest rate, or whether you’ll be able to get a new
charge card. Of course it contains the basic information
including name, address, telephone number, social security
number and your date of birth.
But what you may not know is there’s more to your credit report
information to consider. For instance, alias names are listed on
the report. Your former address or addresses are also included
as are old telephone numbers. If you have an unlisted telephone
number, it is listed with the rest of your report information.
Many people are surprised to find that unlisted phone numbers
can be included in this document, but they can be.
Another piece of important information that is included is your
employment history. This may not seem relevant or even fair but
creditors need to determine a person’s capacity to make timely
payments. In order to do so your employment history has to be
included in the credit report information to establish that you
have a stable source of income.
Some people are shocked to discover that their loan or credit
applications are turned down simply because they have just
started a new job. A person with little history included on
their credit report information may not get a loan or a line of
credit if they have only been working for a company for a few
weeks or months. The person has demonstrated no stability and
there is little else the creditor has to go by aside from
payment history.
There are some things that are not relevant to employment so
they are intentionally left out of your credit report
information. Your age, race and marital status are off limits
to a prospective employer who is conducting a search on you.
Bankruptcies that are over ten years old and debts that are
over seven years old are supposed to be removed. Even so, it is
a good idea to look into your history no matter what. Some old
debts may still show up and bankruptcies may not disappear in a
timely manner. It is highly recommended to check your credit
report information and attempt to correct or remove inaccurate
information and errors.
About The Author: Thomas Erikson is co-founder of
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