3-in-1 Credit Report – Part 2

This section of your 3-in-1 Credit Report contains the bulk of your credit history information. It is very detailed, because it contains a history of your monthly payments for the past two years, and summary information for the past seven years for each of your accounts, loans, credit cards etc.

The information contained in this section has the most effect on your overall Credit Score, and for this reason you should make sure that there are no errors or otherwise faulty information contained in it.

It is important to understand that any wrong bad information that’s on your report can have adverse affect on your credit worthiness, costing you hundreds of dollars annually in excess interest rates and monthly payments. Any time spent on a thorough check up of your three in one credit report will pay itself time folds.

For more information on how your Credit Score is calculated and how the information here affects it see Fico Score Rating.

Keep in mind that very recent activities may not yet show on your account, since it takes time for them to show up in the bureaus’ system. This is not a problem because (assuming you’re no behind on any loan) it has almost no effect on your credit score.

Here is what the History information of your Three in One Credit Report looks like:

 
 
 

– ACCOUNT HISTORY INFORMATION

This section of your 3-in-1 Credit Report contains detailed information about all the credit accounts in your name and your credit history. Accounts are divided into the same five categories mentioned in Part-1 of 3-in-1 Credit Report: Real Estate, Revolving, Installment, Other, and Collection. Your account history may be very detailed, but it’s important that you read through to make sure the information is being reported correctly.

For each of the accounts, the following details are included:

Creditor Name:	The name of the institution that gave you the account, such as a bank, credit card company, or mortgage lender.
Account Number:	An identifying number associated with the account. Typically, this would be a credit card number for a credit card account, or a loan identification number for mortgage. Part of the account number may be scrambled or shortened for privacy purposes.
Type:	The type of account, such as Real Estate, Auto loan, Educational, Revolving or Credit Card.
Condition:	The state of the account. For example, “Open” or “Closed”.
Responsibility:	This indicates whether you have individual, joint, or authorized user responsibility for the account.
Pay Status:	A detailed description of the account’s payment status as of the last reported date.
Date Opened:	The date when the account was opened.
Date Reported:	The last date when the creditor reported any activity in this account. Activities may include payments, credit card billings, etc. Very recent activities may not yet show on your account, since it takes time for them to show up in the bureaus’ system.
Balance and Limit:	The amount you presently owe on the account (based on the last reported activity) compared to the maximum amount of credit approved.
Payment and Terms:	The minimum amount you are required to pay in order to maintain the account, and number of monthly payments scheduled.
High Balance or High Credit:	The most you have ever owed on this account. In the case of a credit card this would be the highest balance you’ve ever accumulated. For a mortgage or other loans, it would be the initial amount of the mortgage/loan.
Past Due:	The amount of payment overdue as of the most recent reported activity.
Remarks:	Comments made by your creditor about your account.

Two Year Payment History:
A histogram that graphically illustrates your monthly payment status history over the past two years. Even if your account is current, it might contain information about previous delinquencies.

Here’s a list of the most commonly used symbols and their meaning:

Symbol	Meaning	Symbol	Meaning
*	Paid As Agreed	CA	Collection Account
CUR, OK	Current	CO	Charge Off
30	30-59 Days Past Due	F	Foreclosure
60	60-89 Days Past Due	KD	Key Derogatory
90	90-119 Days Past Due	PP	Payment Plan
120	120-149 Days Past Due	R	Repossession
150	150-179 Days Past Due	VS	Voluntary Surrender
180	180+ Days Past Due

Seven Year Payment History:
A record of any late payments that have occurred in your account over the past seven years.