Credit Report

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DEFINITION of 'Credit Report'

A detailed report of an individual's credit history prepared by a credit bureau and used by a lender to in determining a loan applicant's creditworthiness, including:

1. Personal data (current and previous addresses, social security number, employment history)
2. Summary of credit history (number and type of accounts that are past-due or in good standing)
3. Detailed account information
4. Inquires into applicant's credit history (number and type of inquiries into applicant's credit report)
5. Details of any accounts turned over to credit agency (such as information about liens, wages garnishments via federal, state or county records)
6. Information on how to dispute any of the above information.

INVESTOPEDIA EXPLAINS 'Credit Report'

Once negative information appears on your credit report, there is little you can do to clear it up if the information is truthful and accurate. Generally such information remains for about seven years, while bankruptcy filings typically stay on the credit report for about 10 years.

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  2. How long does it take for items to show up on my credit report?

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  3. Can a debt collector contact me about a debt that's no longer on my credit report?

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  4. Why are there three national credit bureaus?

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  5. How will accepting a higher credit card limit affect my credit score?

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  6. Will jointly filing taxes have the effect of joining a couple's credit?

    The only thing that "joins" the credit of a married couple is the ownership of joint accounts. In other words, if there is ...
  7. How is my credit score calculated?

    The credit score, commonly referred to as a FICO score, is a proprietary tool created by the Fair Isaac Corporation. This ...
  8. Does marrying someone with bad credit affect my credit score?

    A credit rating is an assessment of an individual's creditworthiness. This evaluation is based on an individual's history ...
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