You’ve received your credit reports from Prime Credit Experts, now what?

While most credit reports these days are supposed to be “consumer-friendly”, to the untrained eye the pages and pages of numbers and credit-jargon can still be a bit overwhelming.
Prime Credit Experts is here to help.

The Basics of Reading Your Credit Reports

Each credit report is broken up into 3 main sections: Personal Identifying Information, your Credit History,  and information regarding past and present inquiries made.

Personal Information

This section will include information related to you; details such as your name, date of birth, social security number, and residing address.  You will also see any listed variations that were reported regarding the spelling of your name. Sometimes this section will also list any secondary information that pertains to you such as: your spouse’s name, your phone number(s), and sometimes even your driver’s license number. All in all, this section is to identify that you… are you.

Your Credit History

Within this section you will find your current credit score, as well as any and all information contained within each credit card account held in your name, the accounts that will be included in your reports, as well as any issues in your reports. A few of the most common account types include revolving, installment, and real estate accounts.

Receiving your credit reports from Prime Credit Experts will allow you to see beyond what most credit repair services offer, as we will provide for you the most in-depth and extensive reports in the business. These reports will contain information as far back as when your very first line of credit was opened. Meaning if there are any discrepancies in your credit history from when you turned 18 and, as many of us do, went on a few too many spending sprees with your first credit card, you will be able to see them on our reports.

This section is also where you will see your payment history (if you’ve kept up with payments, make late payments consistently, and so on), and if any accounts were charged off.

Inquiries

Any inquiries you’ve made in the recent past will be visible in this section. Often times, these are divided into two categories: soft pull and hard pull inquiries.

A hard pull is typically made by lenders or loan agencies, whereas a soft pull inquiry is what is made when you request your credit score report.

Most credit repair companies will conduct minimum tier, soft pull inquiries. At Prime Credit Experts, our soft pull inquiries are the highest tier, tri-merge consumer reports.

• For more information regarding the types and tiers of credit reporting, visit our Education Center.

Your credit report may also display a Public Record section, which in most cases is completely blank. A blank Public Record section is a good thing; anything that shows up in this section means there is an issue of some kind on your public record.