What information is shown on a credit report?

The typical credit report will include personal identifying information: a list of credit accounts (including credit limit), type of account (credit card, mortgage, auto loan, etc.), and your payment history on those accounts.

What 5 pieces of information does a credit report contain?

The five pieces of data are type of account, date opened, credit limit or loan amount, account balance, and loan history.

What information is not included in a credit report?

Your credit report does not include your marital status, medical information, buying habits or transactional data, income, bank account balances, criminal records or level of education. It also doesn’t include your credit score.

What are the 4 main sections of a credit report?

Your credit report is divided into four sections: identifying information, account history (or credit his- tory), public records, and inquiries.

Does a credit report show all debt?

Your credit report lists the amount owed on every account, along with its status and payment history, and contact information for the creditor handling the debt.

What are 5 examples of information not in a credit report?

Any item listed on your credit report as child support, a family obligation, or a rental agreement is not included in your FICO score. However, just as is the case with income and employment information, child support obligations can be taken into account by a lender when making a decision.

What gets reported to credit bureaus?

Your credit report is primarily a record of your payment history on your various credit accounts. These accounts include credit cards, car loans, mortgages, student loans and similar debts. Credit reports also include reports on things like bankruptcies and tax liens, and can even include rent or bill payments.

Is gender included in credit report?

Federal law prohibits discrimination based on faith, relationship, political viewpoints, or affiliation with specific groups or causes. As such, your credit reports will not include mention of your: Gender.

What information is included in a credit score quizlet?

type of credit, payment balance, loan payment, payment info, date.

What information is included in your credit report quizlet?

What are the four categories of a credit report? Your name, current and previous addresses, telephone number, full or partial Social Security number, date of birth and current and previous employment information. What does consumer (personal) information include? The maximum dollar amount that can be borrowed.

Who tracks all of your credit information?

Three companies play a major role in consumer credit across the United States: Experian, TransUnion, and Equifax. These three major credit-reporting companies, also called credit reporting bureaus, track US consumer credit data that generates your credit score.

What is the purpose of credit report?

Lenders use these reports to help them decide if they will loan you money, what interest rates they will offer you. Lenders also use your credit report to determine whether you continue to meet the terms of an existing credit account.

What is the most commonly used credit scoring model?

FICO 8
The most widely used model is FICO 8, though the company has also created FICO 9 and FICO 10 Suite, which consists of FICO 10 and FICO 10T. There are also older versions of the score that are still used in specific lending scenarios, such as for mortgages and car loans.

What is the best FICO score possible?

850
FICO scores range from 350 to 850; under 580 is considered poor credit and 740 or higher is considered very good or exceptional credit.

What does mean on credit report?

Status. On the credit report, this indicates the current status or state of the account. Terms. This refers to the debt repayment terms of your agreement with a creditor, such as 60 months, 48 months, etc. Third-Party Collectors.

What do car dealers look for in credit?

Many auto lenders use base FICO Scores to make credit-granting decisions. Base FICO scores predict the likelihood that you’ll make a late payment on any credit obligation within the upcoming 24 months. They also feature the traditional score range of 300-850. Lenders use numerous versions of base FICO Scores.

What credit is checked to buy a house?

Minimum Credit Score Required By Mortgage Loan Type
Type of Loan Minimum FICO® Score
Conventional 620
FHA loan requiring 3.5% down payment 580
FHA loan requiring 10% down payment 500 (Rocket Mortgage® requires a minimum score of 580 for an FHA loan)
VA loan 620 (Rocket Mortgage requires a minimum score of 620 for a VA loan)
Jan 13, 2022

Is a FICO score of 8 good?

FICO 8 scores range between 300 and 850. A FICO score of at least 700 is considered a good score. There are also industry-specific versions of credit scores that businesses use. For example, the FICO Bankcard Score 8 is the most widely used score when you apply for a new credit card or a credit-limit increase.