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Credit One Bank - Credit 101: What is a Credit Report? |
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A Credit Report is a maintained record of your personal information and credit history. Information contained in a credit report is gathered on an ongoing basis.
When you apply for an auto loan, home loan, student loan, job, apartment/condo, credit card, or any other form of credit, your credit report may be purchased by lenders, employers, landlords and other service providers to aid them in their decision to approve your application. Because your credit file is always changing, it's critical that you review your information regularly to check its accuracy. |
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Information Included in Your Credit Report:
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Identifying Information: Your Name, Street Address, Social Security Number, etc.
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Credit History: Any credit account opened in your name or an account that lists you as an authorized user (such as a spouse's credit card). Account details include the date the account was opened, the credit limit or amount of the loan, the payment terms, balance, and a payment history on that account. |
Inquiries: Credit reporting agencies record an inquiry whenever your credit report is shown to another party. Inquiries remain on your credit report for up to 24 months. |
Public Records: Matters of public record obtained from Government sources such as Courts of Law, including liens, bankruptcies and overdue child support, may appear on your credit report. Most public record information stays on your credit report for up to 10 years. |
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| Who’s allowed to see my Credit Report? |
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Lenders |
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Credit Card Issuers |
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Landlords |
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Insurance Companies |
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Companies that monitor your account for signs of identity theft with your written consent |
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Non-governmental organizations or governmental agencies considering your application for a government license or benefit |
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A state or local child support enforcement agency |
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A business that uses your credit report to decide whether to provide a product or service you have requested |
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Someone you have given written authorization to obtain your credit report, such as employers, potential employers and government agencies |
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