Frequently Asked Questions
What is a credit report?
A credit file disclosure, commonly called a credit report, provides you with the information in your credit file as maintained by a consumer reporting company that could be provided by the consumer reporting company in a consumer report about you to a third party, such as a lender. You are entitled to receive a free credit report once every 12 months.
What information is included in a credit report?
Each credit reporting agency formats and reports information differently, but all credit reports contain basically the same categories of information.
- Identifying Information - Your name, address, Social Security Number, date of birth, and employment information are used to identify you. These factors are not used in credit scoring. Updates to this information come from information you supply to lenders.
- Trade Lines (Credit Lines) - These are your credit accounts. Lenders report on each account you have established with them. They report the type of account (bankcard, auto loan, mortgage, etc.), the date you opened the account, your credit limit or loan amount, the account balance and your payment history.
- Credit Inquiries - When you apply for a loan, you authorize your lender to ask for a copy of your credit report. This is how inquiries appear on your credit report. The inquiries section contains a list of everyone who accessed your credit report within the last two years. The report you see lists both "voluntary" inquiries, spurred by your own requests for credit, and "involuntary" inquires, such as when lenders order your report to make you a pre-approved credit offer in the mail.
- Public Record and Collection Items - Credit reporting agencies also collect public record information from state and county courts, and information on overdue debt from collection agencies. Public record information includes bankruptcies, foreclosures, suits, wage attachments, liens and judgments.
The credit file disclosure provided to you includes certain information that is not included in a consumer report about you to a third party, such as the inquiries of companies for pre-approved offers of credit or insurance, account reviews, and any medical account information.
Where can I get my free credit report?
You can request a free credit report at annualcreditreport.com.
My identity has been stolen. Should I notify the credit reporting agencies?
You have the right to ask that nationwide consumer credit reporting companies place “fraud alerts” in your file to let potential creditors and others know you may be a victim of identity theft. A fraud alert can make it more difficult for someone to get credit in your name because it tells creditors to follow certain procedures to protect you. It also may delay your ability to obtain credit. You may place a fraud alert in your file by calling just one of the three nationwide consumer credit reporting companies. As soon as that agency processes your fraud alert, it will notify the other two, which then also must place fraud alerts in your file.
- Equifax: 1-877-576-5734; www.equifax.com
- Experian: 1-888-397-3742; www.experian.com/fraud
- TransUnion: 1-800-680-7289; www.transunion.com
Does my free credit report include my credit score?
No, the free credit report does not include your credit score. You will be given an opportunity to purchase a credit score from any of the nationwide credit reporting agencies after you receive your free annual credit report from any of them in response to a request made through annualcreditreport.com.
There is an error on my report, how do I get it corrected?
Contact the nationwide consumer credit reporting company that is reflecting the error:
The above content is based on information detailed on the website annualcreditreport.com. All links above are to third-party websites and are not maintained by Select Bank.