Credit report sample: How to read, understand a credit report

Credit report sample: How to read, understand a credit report

Sample credit report shows examples of common features

By Fred O. Williams

You can get a free credit report. But do you know how to read and understand it? This interactive guide will help. First we’ll look at how to acquire your report, then how to read and understand it once you get it.

One free report every 12 months

Everyone is entitled by law to look at their credit report from each of the three credit bureaus once every 12 months free of charge, or you can buy a credit report from each of the three bureaus if you want to view your report more often.

The three large U.S. credit bureaus – Equifax, Experian and TransUnion – were required by a 2003 federal law to set up AnnualCreditReport.com as a central online resource for report requests. You can also request your reports by calling 877-322-8228 or by downloading a request form and mailing it to:

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

Upon visiting AnnualCreditReport.com, users are directed to a form page and asked to provide personal identifying information, including name and address, Social Security number and date of birth.

After submitting your basic information, you go to a page allowing you to select reports from the three large credit bureaus by checking boxes next to the Equifax, Experian and TransUnion logos. You can select one or all of the credit bureaus. Instructions discuss whether you should review all three reports immediately, or whether you should spread the requests over a period of time.

The next step is designed to verify your identity. A page of questions appears about your creditors, loan terms or other details on the credit report that you’re expected to know. You need to select the correct answers get access to the credit report. The AnnualCredit.Report.com site is integrated with the websites of the credit bureaus, making the transition from one to the other seamless. After requesting one report, you may return to the main site to repeat the process with another credit bureau.

If you use up your free credit report and want to check again for some reason, you can pay about $20 for each report. Or, you can get a free TransUnion credit report from CreditCards.com

Sample credit report, with explanations

Many consumers have a difficult time understanding their credit reports and piecing the three reports together, so here are examples and explanations of the most common elements that appear in each of the three free credit bureau reports. Roll over the information icon () for explanations.

Personal information
Name: JOE Q. CONSUMER Other names: CONSUMER, JOSEPH Q. Report number: XXXXXXX	SSN: XXX-XX-6789 During the AnnualCreditReport.com signup process, you can choose to have the report display your entire Social Security number or — to protect your identity — just the last four digits. Date of birth: 04/1965 Telephone number(s): 917-555-1212
CURRENT ADDRESS:	PREVIOUS ADDRESSES: 17 BROOKLYN AVE., LONG ISLAND, NY 56789
EMPLOYMENT DATA REPORTED	Position: PROGRAMMER Hired: 05/2011 Position: Hired: 03/2007

Public records
ROCKWELL MUNICIPAL Docket#: 9B004875
5468 MLK AVE., SUITE 300, ROCKWELL, TX 97845	Type: Civil judgment Court type: Municipal Date paid: 07/2012 Assets: $1,089	Date filed: 12/2011 Responsibility: Participant on account Plaintiff: BANK OF TEXAS Plaintiff attorney: RICHARD PERRY Amount: $1,089
Estimated date that this item will be removed 07/2019

Adverse accounts, potentially negative items
COLLECTION RECOVERY SVC #321568
123 CHARLES ST. SUITE 202 CORONA, CA 92877-0137 (909) 898-4424	Balance: $0 Date verified: 06/2011 Original balance: $243 Original creditor: SEARS ROEBUCK Credit limit: $500 Past due: $0 Terms: $72 for 23 months	Pay status: Payment after charge off/collection
Remarks: >Paid collection< Estimated date that this item will be removed: 05/2021
DONOVAN & WILSON
1045 MAIN ST., SUITE 105 RIVERSIDE, CA 92501 (909) 781-1248	Balance: $12,745 Date updated: 06/2011 Original balance: $15,243	Pay status: 120 days past due
Estimated date that this item will be removed: 06/2018
The following item is suppressed pending credit grantor update:
123 SMITH AVE. UNIT 55G WILMINGTON, DE 19850-5316 Phone number not available	Balance: $2,145 Date updated: 08/2012 High balance: $25,463 Collateral: 2002 Chevy	Pay status: 60 days past due Account type: Installment account
Loan type: Student loan Remarks: Repossession Maximum delinquency of 60 days in 07/2012 for $400 Estimated date that this item will be removed: 06/2019

Accounts in good standing, satisfactory accounts
GMAC FINANCING #640006137129
78901 JENKINS CIR FLOOR 15 MIAMI, FL 33025 Phone number not available	Balance: $1,145 Date updated: 08/2017 High balance: $10,000 Collateral: 2009 Dodge Ram	Pay status: Pays as agreed Payment status is the current status of your adverse account. In this example, the account is being paid in full each month as agreed to in the credit terms. Account type: Installment account An installment account is a fixed line of credit that is paid over a certain period of time. Examples of installment accounts include bank loans, car loans and student loans. Responsibility: Individual account Date opened: 11/2013 Date closed: 11/2016 Date paid: 11/2016
Loan type: Automobile Remarks: Paid by insurance Estimated date that this item will be removed: 12/2023

Revolving accounts
CAPITAL ONE
P.O. Box 30281 Salt Lake City, UT 841300281
Account Number:	400XXXXXXXXXXXX	Pay	Pays as agreed
Account owner:	Individual account	High credit:	$4,304
Type of account	Revolving	Credit limit	$10,500
Date opened:	06/08/2010	Balance:	$965

81-month payment history

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2017

2016

2015

2014

2013

2012

2011

2010

Historical account information
	03/2017	02/2017	01/2017	12/2016	11/2016	10/2016
Balance	965	1095	2336	1161	1268	950
Scheduled payment amount	25	25	25	25	25	25
Actual payment amount	1095	2336	1161	1268	950	744
Date of last payment	02/2015	01/2015	12/2014	12/2014	10/2014	09/2014
Months before 10/2016 are not shown.

Credit history requests
CALTECH EMPLOYEE FCU
555 W. ADAMS SUITE 202 LA CANADA, CA 91012 (818) 555-1212	Requested on: 11/01/2017 Inquiry type: Individual	Permissible purpose: Credit transaction
SUNSHINE APARTMENTS via RENTPORT
678 MARINE STREET SUITE 999 LOS ANGELES, CA 90210 (818) 555-1212	Requested on: 05/01/2016 Inquiry type: Individual Loan type: Real estate	Permissible purpose: Tenant screening
CHASE CARD MEMBER SVCS
666 W. SMITH PHOENIX, AZ 87853 Phone number not available	Requested on: 11/01/2016 Inquiry type: Individual

Personal statement
ID SECURITY ALERT: FRAUDULENT APPLICATIONS MAY BE SUBMITTED IN MY NAME OR MY IDENTITY MAY HAVE BEEN USED WITHOUT MY CONSENT TO FRAUDULENTLY OBTAIN GOODS OR SERVICES. DO NOT EXTEND CREDIT WITHOUT FIRST VERIFYING THE IDENTITY OF THE APPLICANT. I CAN BE REACHED AT 917-555-1212. THIS SECURITY ALERT WILL BE MAINTAINED FOR 90 DAYS BEGINNING 03-01-2018.

Updated: March 6, 2018

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