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Analyzing Credit Report Information
Your credit report information can mean the difference between a “yes” and a “no” on your next large purchase or on your next charge card. We pretty much know what details are listed on the tell-all expose of our debt history. The basic information includes name, address, telephone number, social security number and your date of birth.
Basic facts aside, there is more to your credit report information to consider. Many may not know that alias names are also listed on the sheet. Your former address or addresses are also included as are old telephone numbers. If you have an unlisted telephone number, it is still listed with the rest of your credit report information. Many people are surprised to find that unlisted phone numbers can be included in this document, but it is.
Another surprise that pops up is your employment history. This may not seem relevant or even fair but we have to consider the person’s capacity to make timely payments. In order to do so the employment history has to be included in the credit report information because the agency lending the money or the company providing the line of credit need to determine if the potential debtor has a stable source of income.
Some people are disappointed to discover that they their applications are turned down simply because they have just started a new job. A person with little history included on his credit report information may 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 person has demonstrated no stability and there is little else the creditor has to go by aside from payment history. If this is a first-time applicant, he may find himself out of luck.
There are some things that are left out of your credit report information. Your age, race and marital status are off limits to a prospective employer who is conducting a search on you. These items are not relevant to employment so these are kept private.
Bankruptcies that are over ten years old are left off as well as debts that are over seven years old. This is the general rule, but it is a good idea to look into your history no matter what. Some old debts may still show up and bankruptcies may not disappear in a timely manner. It is always a good idea to check your credit report information for accuracy.
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