All About Your Credit Report – Everything Laid Out
Saturday, June 27th, 2009 Subscribe To Our Feed
Your credit report info can signify the difference between a “yes” and a “no” on your next big buy or on your next charge card. This can be a large issue if you are setting up an event like a wedding. You attempt to get credit for that purchase of wholesale wedding favors and are summarily turned down! It’s dreadful. We pretty much understand what details are listed on the tell-all expose of our debt account. The basic info includes name, address, telephone number, social security number and your date of birth.
Basic facts aside, there is more to your credit report info to think about. Many may not be aware of the fact that alias names are also listed on the sheet. Your former address or addresses are also included as are previous telephone numbers. If you have an unlisted telephone number, it is still listed with the rest of your credit report info. Many are taken aback to find that unlisted phone numbers can be shown in this document, but it is. It’s essential to understand what’s included and be able to control it, because we all know that a bad credit report can bring about more issues than yeast infection symptoms.
Another surprise that pops up is your employment history. This might not seem applicable or even reasonable but we must consider the individual’s capability to make timely payments. In order to do so the employment history has to be shown in the credit report info because the group lending the money or the company providing the line of credit needs to determine if the possible debtor has a established source of income. In addition, if you are self-employed – for instance, if you have recently received your personal trainer certification – that could be an issue.
Some people are upset to realize that they their applications are denied purely because they have recently begun a new job. A person with little history shown on his credit report info might not get a loan or a line of credit if he has only been working for a company for a few weeks or months. The individual has demonstrated no steadiness and there is not much else the creditor has to go by except payment history. If this is a first-time applicant, he might find himself out of luck.
There are a number of items that are left out of your credit report info. Your age, race and marital status are off limits to a potential job who is conducting a search on you. These items are not germane to employment so these are kept classified.
Bankruptcies that are over ten years previous are excluded as well as debts that are more than seven years old. This is the broad rule, but it is a good plan to look into your history regardless. Various old debts might still turn up and bankruptcies may not go away in a timely manner. It is always a decent plan to check your credit report info for accurateness.
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