There are three main credit bureaus, Equifax, Experian and Trans Union. These companies gather credit information from various creditors and sell this information in the form of a credit report. This report is sold to lenders or others who have a need for it. Each individual has a right to see what on their credit report at the different credit bureaus. Everyone is entitled to a copy of their credit report free once every 12 months.
The information in your credit report is as follows:
Individual’s full name, address, place of employment, spouse’s name, if married.
Complete credit history showing bank accounts, dates of loans taken and amounts that were borrowed and terms that the loans were given. How many payments have been made and number of late or missed payments and finally how much is still outstanding.
Any lawsuits filed or judgments against you and any tax liens or bankruptcies that you have filed.
Finally any inquires regarding your credit for the last 18 months can appear on your credit report.
This information is updated on a monthly basis so that any companies requesting your reports gets the most accurate information available to make a decision on your credit application.