Maintain your old Siemens Hipath system

Discover the Parts of a Credit Report and What They Mean

So you ordered a copy of your credit report to check for inaccuracies and get the most from your credit score. Now how do you read it? Your credit report is read and used by any number of people you deal with on a daily basis, from your landlord to your employer to a potential lender. Fortunately, it has gotten easier to order a copy of your report, but it's not so easy to understand what all those abbreviations and numbers mean once you've got it.

If you haven't ordered your credit report yet, you will soon be entitled to a free copy from each of the three major credit bureaus, Equifax, Experian, and TransUnion. Some states can already take advantage of this new policy, but people living in eastern states will have to wait until September of 2005. Order your free yearly copies from all three agencies and check for the availability of the annual reporting program in your area at the same website: Each report will contain different information because retailers and creditors only report to the agency in their area or with whom they have an agreement.

Once you have your credit report in your hands, you will see that it is divided into four main sections:

? Consumer information
? Account histories
? Public records
? Inquiries

Double check the accuracy of your identifying information. This will include your name, address, phone number, previous addresses, date of birth, and Social Security number (SSN).

Next, for each account history, or trade line, you will see the following information:

? Date you opened the account
? Type of credit account (either installment, such as a car loan or mortgage, or revolving, such as a credit card)
? Name(s) on the account
? Total loan amount, credit limit, or highest card balance
? Amount you currently owe
? Amount of your monthly payment
? Account status (either open, closed, inactive, paid, or other)
? How promptly you have paid on the account

Credit agencies vary as to how they word various sections of the report and should provide you with a guide to reading their versions. One agency might report in the last column of an account history that you paid "on time" or "30 days late." Another agency might use a numeric code to rate how well you paid off a debt. R1 is the code used for an excellent repayment history on a revolving charge account. I1 is the code used for an excellent repayment history on an installment account. Obviously, the higher the number next to either the R or I, the lower your repayment history is rated. So an R4 would indicate a history of late payments.

The public records section will include any tax liens, bankruptcies, judgments, or other financial-related legal matters. Depending on the type of action taken, these damaging records may stay on your credit report for up to 7 to 10 years.

The last section lists the inquiries made on your credit. Hard inquiries are those requests to pull your credit when you apply for such things as loans or lines of credit for services. Soft inquiries result when companies sending out promotional items to pre-qualified individuals check your history or when your current creditors check your payment status. The soft inquiries only show up on the report that you order, not on reports pulled by lenders.

While too many inquiries in a short period of time can signal a red flag to a lender, most credit scoring models are least affected by this portion of your report.

Check your report for any errors and report them immediately in writing. If you have experienced damage to your credit, go to to find out what you options are.

Don't forget that the credit agency providing your report is also a great source of information on not only reading your credit report, but raising your credit score.

Cathy Taylor is a marketing consultant with over 25 years experience. She specializes in internet marketing, strategy and plan development, as well as management of communications and public relations programs for small business sectors. She can be reached at Creative Communications: or by visiting or http://www.internet-marketing-small-business .com

In The News:

Reunion for boy separated by Trump immigration policy
Sat, 21 Jul 2018 02:40:00 +0100
A boy who appeared in court after being separated from his father when they illegally crossed the US border has been reunited with his parents.

Trump 'secretly taped talking about Playboy model payment'
Fri, 20 Jul 2018 16:48:00 +0100
Donald Trump's former lawyer secretly taped a conversation the pair had about payments to an ex-Playboy model, according to a report.

Duck boat tragedy: 'Captain said leave life jackets'
Fri, 20 Jul 2018 21:55:00 +0100
A woman who lost nine members of her family, including her children and husband, when a "duck boat" sank claims the captain told people not to put on life jackets.

Gunman kills father of school shooting survivors
Sat, 21 Jul 2018 08:25:00 +0100
The father of two survivors of a high school massacre in Florida has died after being shot at his convenience store.

10 hurt in knife attack on crowded bus in Germany
Fri, 20 Jul 2018 16:54:00 +0100
At least 10 people were injured, including three seriously, in a knife attack on a bus in Germany.

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

5 Things Your Credit Card Company Keeps Quiet About

Credit Cards can bankrupt you if you let them run... Read More

Identity Theft ? Monitor Your Credit Report

The recent security breach at credit card processor CardSystems Solutions... Read More

The Best Strategy To Erase Credit Card Debt

Credit card debt is a growing sickness in the United... Read More

What Does Your Credit Say About You?

A credit report is more than just a snapshot of... Read More

The Easy Way To Gain Access To Your Free Online Credit Report

When you apply for credit, those lending you the money... Read More

Credit Card Is Adding The Silver Lining To Your Pocket

In the new millennium plastic money or credit cards has... Read More

Simplifying Your Search For a New Credit Card

Today, selecting the proper credit card can be a bit... Read More

Why Consumers Need a Nationwide Credit Freeze NOW

What do a shoe retailer, an online discount broker, and... Read More

Choosing The Best Credit Card To Apply For

Always shop around to get the best deal when choosing... Read More

FREE Credit Report Offer - Careful, It Might Carry Hidden Charges

FREE credit checks or free credit reports. What are they... Read More

Credit cards

If gold medals were awarded for marketing consistency, the credit... Read More

How To Get a Low Interest Credit Card

Consumers often have the first credit card that they ever... Read More

How To Use Your Credit Card For Ultimate Financial Advantage

Using a credit card wisely is an important step in... Read More

Five Credit Card Billing Problems and How to Fix Them

It goes without saying that your first and best defense... Read More

How to Improve Your Credit Rating

So you got into debt, had problems but you got... Read More

Credit Card Tips

Here are some useful credit card tips for you to... Read More

Beat Credit Card Companies at Their Own Game!

Have you ever wondered how much money a credit card... Read More

Bank Robbery Growing In U.S.

Bank robbery has grown to become a huge problem in... Read More

Repair Your Credit - The Right Way!

How to Repair a Bad Credit Rating?The Right Way!If you... Read More

Some Truth About Credit

Credit is currently and has been historically an integral component... Read More

Give Yourself Credit

The Beginning of the Credit Card EraIn 1951, Diners Club... Read More

Figuring Out the Ever Nebulous Numbers Called Credit Scores

Credit Score FactorsThe information contained on our credit reports affect... Read More

What Is A FICO Score?

A credit score is most commonly known as a FICO... Read More

Credit Card Debt: How To Control It

A lot of people spend more money than they can... Read More

Credit Card Security Advice

Which of the following is the biggest threat to your... Read More