Each of the three major CRAs produce and update your credit file with their own standards of recording, from which your personal credit report is based. Some of the information in your credit report are factors related to calculation of your credit score (a.k.a. FICO score or credit rating), an aggregated score ranging from 300 and 850 that acts as a numerical summary of your creditworthiness. The credit score is one of the most important factors is approval or denial of credit and its terms, including interest rates, fees, length of loan, or other payments built into the type or credit you receive (Please see “Your Credit Score” for detailed information.

Though not all of your creditors report your credit history to the CRAs, the creditors who do may report to one, both, or all of them. Combined with the potential reporting errors made by both creditors and CRAs, the items on your credit report and how they are reported vary between CRAs. However, in many states, consumers are entitled to a free copy of their credit report from one or all of the CRAs (see www.annualcreditreport.com). This gives you an opportunity to monitor your credit without cost, and make corrections to your credit report (see “Resolving Errors on your Credit Report”).

Included on your credit report are items that may be used to judge your creditworthiness and calculate your credit score. The information that does not affect your creditworthiness or credit score includes identifying information, like your name, date of birth, and social security number.

Additionally, residential history---including all addresses lived within the last 7 years and the length of time at each address, are reported in your credit report. Though this is not included in credit scoring calculations, it is widely accepted that more stable residential history (e.g.: residing in the same address for at least two years, less addresses reported) is related to lower risk and better creditworthiness.

Employer(s) reported on your tax returns may also be included on your report. Much like residential history, having the same employer(s) for at least two years is viewed as a sign of financial stability and creditworthiness. However, employment history is not a factor weighted in credit scoring. Additionally, no information related to employment performance or income is included.

All other items have varying effects on your credit score. Please see “Items that Affect your Credit Score” to review what types of information is weighted in credit scoring, and how it can have positive or negative effects to your creditworthiness.