What Can You Find on a Credit Report

The information on your credit report is relayed from major credit card companies periodically. Stated below is some of the best credit card information found on your credit report.
The account information is listed in a credit report, such as the highest balance charge, credit limit, and monthly payments. The credit limit and credit card balance are used to find out your specific credit score. The balance and limit listed in a credit report may not accurately reflect your current limit a balance because the scores are only updated periodically.

How you have paid on your credit card will be visible on a credit report, inclusive of the last two years. It will provide if the credit card payment was ever late and by how many days, also if any cards have been charged off. A late payment may only increase an interest rate payment immediately, but in the long run it will be visible for everyone else to see on your credit report.

The information on a credit report is removed based upon whether the information is positive or negative. Bad information on a credit report will stay listed for at least seven years, and if any bankruptcy had occurred then it will be extended to ten years. For positive information there is no date at which the information is taken off a report, just whenever the bureau decides to, thus it could stay on a very long time.

If a mistake is made on your credit report it can be corrected. Simply call the credit bureau and tell them of the mistake such as a payment being on time if they have it listed as late. Be sure to have the appropriate information ready to show the dispute in your favor. If the bureau fails to correct the error you can contact the credit card company directly.

Accurate credit card information is very important to produce an accurate credit report. A credit report is the basis that most companies use to judge a persons trustworthiness in order to loan out money. Thus now that the above information is known to you, be sure and keep your credit report in good order.