Basic tips on how to decipher your credit reports

1. What forms part of the 'requests' section of a credit report?
2. are the information gathered to make credit report?
3. out the details that are not collected for preparing credit report

The Parts of a Credit Report

• Your personal information. This is the information that the bureaus use to identify your file. It can include your name, marital status, contact information, past contact information, your employment information and your Social Security number. Be sure to check this information carefully for errors.

• Dings: Any negative credit information on your report is commonly called a ding. This information is usually listed in a separate part of your report and individual items in this section may be set off by punctuation, such as dashes or stars -“*”. Any overdue bills, defaulted loans, and other items that count against credit scores are listed here. The current status of the situation will also be listed here. If you were late with a bill, for example, but paid eventually, then this should be noted. It is essential to check this area of the credit report carefully. If there are any bills listed as overdue that were actually paid or paid on time, you can dispute the error and improve your score.

• Your debts and loans. Any credit account or loan you have will be listed. Any late payments will also be listed, as well as details about the debt.

• Requests. Anyone who has accessed your credit report is listed in a separate section. If a company has checked your report for review, it does not affect your credit rating. However, when you ask someone to access your credit report (such as when you apply for a loan) your credit score may be affected slightly. For example, if you apply for several loans at once, the numerous checks may make it appear that you are applying for a lot of new credit. Some lenders may see this as a sign that you are about to overextend your credit and may become more cautious about granting you a loan.

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