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Credit Bureau Records
Credit bureaus are clearinghouses for information on consumers' credit
use and credit history. They keep records and report them to prospective
credit grantors.
There are four types of information that will appear on your
credit bureau record.
- Personal information consisting of your name, birth date, Social
Security number, your current and previous addresses and employers.
- A record of your repayment habits as provided by your creditors.
It details the type of account, whether it's joint, individual or authorized
user, how long you've had it, whether it has been paid as agreed, and
the amount of the monthly payments.
- Information from public records concerning judgments, tax liens,
foreclosures, litigation and bankruptcies.
- A record is kept for 6 to 24 months of all creditors making inquiries
(seeking information) into your credit history. Multiple credit inquiries
may be a tip-off to creditors that you are getting in over your head
with credit.
You may request a copy of your credit bureau record through the credit
reporting agency (check the Yellow Pages). The cost is usually about
$8. If you contact the agency within 60 days (longer in some states)
of being denied credit, a copy will be sent to you without charge. If
you have been denied credit because of information contained in your
record, the lender must provide you with the name and address of the
credit agency that supplied the credit information. You can also request
a free copy of your credit bureau report if you feel you are a victim
of fraud. Be sure to check your credit record yearly to be sure no mistakes
have been made and before you make any loan requests.
Links to credit Bureaus
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