How to read a TransUnion Credit Report
The Fair Credit Reporting Act (FCRA) requires each of the
Nationwide Consumer Reporting organizations (Equifax, TransUnion
and Experian) to provide you with one free credit report every
12 months per your request. This means that you are entitled to
three free credit reports per year, if you deem it necessary.
You can stagger the requests or order all of them at the same
time.
Each of the National Consumer Credit Reporting bureaus have a
unique credit report format, but in essence they provide you
with the same information. When you receive your free
TransUnion credit report use the following guidelines to
read your report:
Personal Information
This section will detail your personal information: Name, Social
Security Number (SSN), phone number, current address, current
employer, date hired and position. Your SSN will be masked to
protect against identity theft. The file will also indicate how
long you have been in the TransUnion database.
Account Information
This is a legend to help you understand the status of each
account. Status range from not applicable, unknown, current, 30
days late, 60 days late, 90 days late to 120 days late.
Adverse Accounts
Any information that may lead creditors to view you as a credit
risk will be listed here. The following details will be listed:
name of the creditor, their address, their phone number, your
account number, account balance, highest balance on account,
account limit, account status, account type and the date the
account was opened. It will also indicate who bears the
responsibility for resolving any claims or issues against the
account.
In addition, this section will list any bankruptcies,
foreclosures, judgments or liens in your credit history.
Satisfactory Accounts
Hopefully all your accounts fall into this section rather than
the previous section. Every account you have listed here works
towards a good FICO Score. The following details will be listed:
name of the creditor, their address, their phone number, your
account number, account balance, highest balance on account,
account limit, account status, account type and the date the
account was opened.
Regular Inquiries
Any companies that have made inquiries against your credit file
and have received your credit report will be listed here.
Inquiries are generated when creditors with whom, you have
applied for credit lines or loans (e.g. mortgage loan or credit
card application) inquire about your credit history. Some
inquiries may have been originated from potential employers. The
request will detail the name of the requesting company, their
address, the date on which they made the request and the reason
for the request. The inquiry record will remain on your credit
report for two years.
Inquiry Analysis
This is a list of all companies that have requested your credit
report. The request will detail the name of the requesting
company, their address and the date on which they made the
request.
Sample TransUnion credit report
You may also find the following credit report terms helpful: