What does a Credit Report Contain? Or Credit Report Contains what Information?

What does a Credit Report Contain? - A Credit Report contain is a summary of your credit history and your other credit related information. This Credit Report is used by the banks, lenders and creditors as a trusted source of information to decide whether a credit can be extended by them to you and also deciding upon the terms & conditions related to the credit.

Does credit report contain credit score? - A Credit Report contain the basic information such as Types of Credit Accounts,Credit Score,Personal Information, Employment Information describe below.

(1) Credit Score

It contains your Credit Score based on how you've managed your finances over the past few years and how you're currently managing your finances.

(2) Personal Information

Personal information such as name of the individual, Address, Date of Birth, etc.), bank details, loan details, credit card information (overdue amount, credit limit, last payment details and so on), number of times the report has been asked for by the creditor and reason for doing so.

(3) Types of Credit Accounts

It includes your credit facilities including name of lenders and different types of current and previous Credit Accounts such as:

  • Home Loan
  • Credit Card
  • Overdraft
  • Mortgage Loan
  • Education Loan
  • Vehicle Loan
  • Business Loan
  • Personal Loan
  • Any other Loan/ Debt/ Credit

(4) Employment Information

Monthly/ annual income details are contained in credit report as reported by the banks and financial institutions to the credit bbureaus.

(5) Inquiry Information

Report contains two types of Inquiry Information i.e. Soft Inquiry and Hard Inquiry. 'Soft Inquiry' shows your own requests for your credit history or inquiries by companies in order to offer you pre-approved loan. 'Hard Inquiry' shows lender's request for your credit history.

(6) Score Factors Affecting Credit Score

One section of the report shows the positive or negative factors currently affecting your credit score.

It is to be noted that there are many websites where you will find an option of getting a free credit score and also a free credit report. You may use this credit score and free credit report to avail loan and credit cards in a hassle free manner.