How to Read Your Credit Report

A credit report is a record, kept by each of the three nationwide credit reporting companies — Equifax, Experian, and TransUnion — of how you've managed credit over time. The three reports don't always match, because not every creditor reports to every bureau. That's one reason it's worth reviewing all three, not just one.

The sections you'll typically see

Personal information — your name, addresses, and employers on file. Old addresses and name variants are normal; wrong or unfamiliar ones are worth a second look.

Accounts (tradelines) — every credit card, loan, or line of credit reported in your name, including the creditor, balance, credit limit, payment history, and current status (open, closed, in collections, charged off, and so on).

Inquiries — a record of who has requested your report. "Hard" inquiries happen when you apply for credit and can affect your score slightly; "soft" inquiries (like checking your own report) don't.

Public records and collections — items like bankruptcies or accounts sent to a collection agency.

What to look at first

• Accounts you don't recognize at all.
• An account you closed that still shows as open, or vice versa.
• A balance, credit limit, or payment status that doesn't match your own records.
• The same debt listed more than once, especially if it's moved between collection agencies.
• Personal information that isn't yours (a strong sign your file may be mixed with someone else's).

Where to get your reports

You're entitled to a free report from each bureau through AnnualCreditReport.com, the only site authorized by federal law for this purpose. The Consumer Financial Protection Bureau also publishes plain-language guidance on reading a report at consumerfinance.gov.

This article is educational and general in nature — it isn't legal or financial advice about your specific situation.