How to Read Your Credit Report

Most people have never looked at their own credit report. The first time many of them see what's on it is when a lender pulls it, which is the worst possible time to find an error.

What's on it

• 1
  Who you are. Names you've used, past and current addresses, and employers. Make sure it's all yours.
• 2
  Public records. Things like bankruptcies and court judgments.
• 3
  Your accounts. Every card and loan: when it opened, the limit or amount, the balance, and whether you've paid on time.
• 4
  Inquiries. Who has looked at your credit. Soft checks, like checking your own, don't affect your score. Hard ones, from applying for credit, can.

What isn't on it

Your bank balances, income, medical history, race, religion and politics aren't on your credit report. Neither is your score. The score is calculated from the report.

How long things stay

Late payments and most negative items generally stay for seven years, and a bankruptcy can stay for up to ten. The older something is, the less it usually counts.

Fixing a mistake

Get your reports free from all three bureaus, Equifax, Experian and TransUnion, at annualcreditreport.com. If something's wrong, dispute it with the bureau that shows it, and with the company that reported it. The bureau has to investigate, usually within thirty days.