Credit reports contain information about your credit history and performance. A report can contain both positive and negative information including what lines of credit you currently have open and any late or failed payments you may have. However, it will not show information about your salary, bank accounts, or assets. A credit report uses a series of codes to identify your payment habits. To understand these codes, the report should contain a clear explanation of what each code means. In addition, the report will show any inquiries made by lenders about your credit. When reading your report, make sure that you look at the information carefully and thoroughly. If you find any mistakes or discrepancies, notify both the reporting agency and any relevant creditors. Also, if you have acquired any new positive credit, you will want this favorable information included on the report. If you have any questions or concerns regarding your credit report, contact the company from which you obtained the report. You may also consult your local chapter of the nonprofit Consumer Credit Counseling Service.
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