What Is in Your Credit Report—And What Is Not?

A credit report is a record of your history with credit products, such as credit cards, auto loans and mortgages. Lenders and creditors regularly submit account information to credit reporting agencies (CRAs), also known as credit bureaus.

For example, a bank may report the current balance and credit limit for each customer's credit card. The CRAs collect this information from lenders and compile it into a credit report.

There are three major CRAs in the United States: Experian, Equifax and TransUnion. Lenders are not required to report information to every CRA and they may also report updates at different times. As a result, the information held by each CRA can vary, meaning your credit report may look slightly different depending on where you view it.

Rather than having one single credit report, you effectively have several different versions of your credit history.

What is in a credit report?

The information that appears on your credit report generally falls into the following categories:

• Personal information: Your name (including variations or aliases), date of birth, current and previous addresses, phone numbers and potentially current and previous employers. This information is primarily used by lenders to verify your identity when you apply for credit.

• Accounts: A detailed record of your open and closed credit accounts, including revolving accounts (e.g. credit cards) and installment loans (e.g. auto loans and mortgages). Each account may include information such as the lender name, account opening date, payment history, current balance and credit limit.

• Inquiries: An inquiry occurs when someone requests access to your credit file. Credit reports distinguish between hard inquiries and soft inquiries. Hard inquiries are related to credit applications and may affect your credit score, while soft inquiries are typically only visible to you.

• Collections: If you fail to repay a debt, the original creditor may send the account to a collections agency. The collections agency will then attempt to recover the outstanding balance. Certain non-credit debts, such as some medical debts, may also appear if they are sent to collections.

• Public records: This section contains information collected from public sources. Due to stricter reporting standards, this category is now primarily associated with bankruptcies.

What is NOT in a credit report?

Credit reports are focused on your history with credit products. They provide important information about your borrowing behavior, but they do not represent your complete financial picture.

The following information does not typically appear on your credit report:

• Income: Your employers may appear on your credit report, but your salary and income information are not included.

• Debit cards: Debit card activity is not reported because you are spending your own money rather than borrowing from a lender.

• Checking accounts: Checking accounts are not considered credit products and therefore do not appear on your credit report. Overdrafts may be an exception if the unpaid balance is sent to collections.

• Savings accounts: Savings accounts are not included because they are not a form of credit.

• Certain accounts: Not every creditor reports to the credit bureaus. Some lenders, such as certain payday lenders, may not appear on your credit report unless the account is later sent to collections.

• Race and ethnicity: Credit reports may contain personal information used to verify your identity, but they do not include race or ethnicity. Lenders are prohibited from denying credit based on protected characteristics such as race, gender or age.

Final Thoughts

Understanding what is and is not included in your credit report is important because your credit history only tells part of your financial story. A credit report can show lenders how you have managed debt in the past, but it does not capture every aspect of your financial situation.

A strong credit report can help you access better borrowing terms, lower interest rates and more financial opportunities. However, your credit report is ultimately just a reflection of your borrowing history, not a complete measure of your financial health.

Building good financial habits, such as managing debt responsibly, saving money and spending within your means, is ultimately more important than any individual detail listed in your credit report.