What is a Credit Reporting Agency?
Credit Reporting Agencies (CRAs) develop
credit reports
Credit Reporting Agencies draw on information from a variety of sources to paint a picture of your personal credit history.
Your credit report gives creditors a wealth of information that helps them decide whether or not to grant you credit. Information about how you’ve handled credit in the past can impact the credit you’re afforded in the future.
Your credit report DOES NOT contain your race, religion, or political preference. But it will contain information about:
Personal Identifiers: Your name, past and present
addresses, previous employers, current employers and
your Social Security Number (SSN).
Credit accounts: Current and past loans and credit
accounts, credit limits, current balances and payment
histories. Payment history includes late payments,
repossessions, charge-offs, and collection activity.
Public records: Tax liens, bankruptcies , or legal
judgments in lawsuits against you.
Inquiries: Information about businesses that have
requested your credit report within the last 12 months.
Some credit reports also may summarize any negative information that the report contains.