How to Read Your Credit Report in 10 Minutes

A credit report looks dense, but it has only a few sections. Here’s what to check in each.

Personal information

Names, addresses, employers. Unknown addresses or misspelled names can signal mixed files or identity theft. Report them.

Accounts (tradelines)

Each account shows the creditor, balance, limit, status and payment history. Look for late payments you don’t recognize, wrong balances and accounts that aren’t yours.

Collections

Debts sold or assigned to collectors. Check for duplicates — the original creditor and the collector both reporting the same debt as unpaid.

Public records

Today this is mostly bankruptcies. Check the dates and the chapter.

Inquiries

Hard inquiries come from credit applications and can affect your score for up to a year. Soft inquiries (like checking your own report) don’t affect it.

Then compare all three

Line the three bureau reports up side by side. Inconsistencies between bureaus are often the first sign of an inaccuracy worth disputing.