What information do the credit agencies gather?

All three credit agencies will obtain information about all of your current and previous borrowing activities. This includes:

Name of creditor

Date account opened

High credit limit

Current balance

Monthly payment amount

Monthly payment history including delinquent payments

Date last reported to the credit bureau

Date paid in full

Past due status and amount - if applicable

Derogatory account status - i.e. sent to collections, charged off as a loss, settled for less than full balance, included in bankruptcy, etc.

They will also gather data regarding the names and dates of creditors with whom you applied for credit. This data is listed in a separate section of the credit report titled "inquiries".

In addition, the credit agencies will compile data regarding any outstanding or previous judgments, liens (both personal and tax), child support, or bankruptcies.

This information is compiled into an easy to read format and is available to any creditor with whom you apply for credit.

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