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If you have ever applied for a charge card,student loan, or other kinds of credit, you probably have a credit report (orcredit profile). Credit reporting agencies collect and organize informationabout you and your repayment history, and make it available to those who areconsidering granting you credit. Landlords, employers, government licensingagencies, and insurance underwriters can also obtain your credit report.Lenders will look at things like How promptly do you pay your bills How manycredit cards do you own What is the total amount of credit extended How muchdo you actually owe on all of your accounts If they find a history of latepayments, bankruptcies or other collection activities, too many accounts, toomuch indebtedness, maxed out lines of credit, or multiple inquiries in the past12 months, this could negatively impact your ability to get credit. What is onyour credit report Personal identifying information - name, social securitynumber, date of birth, current and previous address and employers Creditaccount information - date opened, credit limit or loan amount, balance,monthly payment, payment history Public record information - bankruptcy, taxand other liens, judgments, and (in some states) overdue child supportInquiries - names of companies that got your credit report. Your credit reportdoes not contain information on checking or savings accounts; medical history;race, gender, religion or national origin; friends; political preferences; orcriminal record. Negative information stays on your credit report for 7years-10 in the case of some bankruptcies. Positive information stays on indefinitely.Inquiries stay on for 6 months to 2 years, depending on the type of inquiry.
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