Sections-of-a-Credit-Report

Sections of the Credit Report

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At freecreditscore.com we’ve organized the information in your credit report a little differently than the standard way a lender might see it.  The information is the same, but we’ve organized it’s easier to quickly scan and find what you’re looking for.  Our design contains the following five sections:

Accounts

The first section of the credit report is the Accounts tab. Accounts include credit cards, retail credit cards, real estate loans, installment loans, and collection accounts. This information is reported to the credit bureaus from your creditors. When available, contact information for your creditors has been provided.

Your accounts are sorted to bring any negative accounts to the top of your page so you can quickly identify them, but you can easily re-sort the information by name, account type, past-due amount, balance, or date opened.

There is a lot of information available for each account, so initially we’ve provided the information we think you want to see most. You can easily expand each account to view a full listing that includes additional information.

Scores

The second section of the credit report is the Score tab.  Your credit scores are the result of a calculation based on information about your accounts, inquiries, and legal records included in your credit report. Credit scores are used by lenders to predict your ability to make payments in the future, based upon how you’ve managed your finances and balanced your credit obligations in the past.

The top of the section provides a credit score, your corresponding credit risk level, and your score rank (the percentage of the population with a lower score than you).

The next two sections show and explain the factors that are helping and hurting your score right now. You can select any issue to get more in- depth information on the issue.

Inquiries

The third section of the credit report is the Inquiries tab. Inquiries are records of your applications for new credit, and stay on your credit report for two years.  If someone checks your credit for another reason, like when you check your own – or when you apply for a job – it will not affect your credit scores.

Your inquiries are sorted to bring your most recent inquiries to the top of the page, but you can easily re-sort by name, or account type.

Legal Records

The fourth section of the credit report is the Legal Records tab.  Legal Records (also known as Public Records)  are financial accounts attributed to legal actions such as bankruptcies, tax liens, and court judgments.  They do not include information like arrests, misdemeanors, or other non-financial situations.  Having a legal record on your credit report can do significant damage to your credit scores. Most people do not have any legal records that are displayed on their credit report.

Your legal records are sorted to bring your most recent records to the top of the page, but you can easily re-sort by type, if you’re searching for a specific record.

Summary

The last section of the credit report is the Summary tab.  Your Summary includes the information that identifies this report as yours, and summaries of the other sections of the report. If you have a personal statement as a result of a dispute, it will appear here as well.  Most people do not have personal statements attached within your credit report, and they don’t impact your credit scores.