Experian

Reading Your Credit Report: An Easy-to-Follow Guide

Oct 12 2009

Reading Your Credit ReportMonitoring your credit by reading your credit report is the No. 1 step to improving your credit score.

Your credit report offers you a complete view of your current and past credit and financial situation. But without a guide, reading your credit report can seem overwhelming and confusing.

Use our easy-to-follow guide to take the frustration out of reading your credit report:

Section 1: Identifying Information
This section contains:

1. Your name

2. Current address and previous addresses

3. Employment information

4. Social Security number

5. Birth date

You may be tempted to read quickly over this section, but take a minute to ensure everything is correct. For example, carefully look for:

  • An incorrect house number on your address
  • Outdated employer information
  • A SS number off by just one or two numbers

Section 2: Account History
Here’s the meat of the credit report. Your account history will include:

1. Creditor name (i.e., credit card company, mortgage lender, bank)

2. Account number

3. Type of account (i.e., real estate, auto, educational, credit card)

4. Date opened

5. Last activity

6. Balance (how much you currently owe)

Continue Reading: Reading Your Credit Report: An Easy-to-Follow Guide