Many myths exist about the information included on your credit report. Some myths would be frightening if they were true. Here is the credit report reality:
Your income is not listed on your credit report or gathered by the credit bureaus.
Whether you are employed or unemployed is not listed. Your report might list current or former employers, but such information is never a factor in your credit rating.
Discriminatory factors such as race, ethnicity, gender, disabilities, country of birth, sexual orientation, religion, and primary language are NOT listed anywhere on your credit report.
Criminal records, traffic violations, parking tickets, judgments, wage garnishments, evictions, and tax liens are also nowhere to be found on your credit report.
However, if at any time an account ends up in collections, it will show up as a collection account on your credit report.
Who cares, though, what is or is not on your credit report? Other than potential lenders, does anyone really look at your credit history? Absolutely. Keep going to learn just who is making decisions that affect your life and basing those decisions on your credit report.
Bonus Resources
Read our blog post, The Top 5 Credit Myths at https://www.moneyfit.org/blog/top-5-credit-myths to learn about five things you WON'T find anywhere on your credit report. It might surprise you.
What do you think? Which of the following are found on most credit reports and which are not?
- Bankruptcies you have filed in the past 7-10 years
- Judgments against you
- Your checking account activity
- Your employer's name
- Your employment status (full-time, part-time, unemployed, self-employed...)
- Your income
- Your loan and credit card interest rates
- Your overdue child support
- Your paid child support
- Your phone number
- Your race or ethnicity
- Your savings account balance(s)
- Your speeding tickets
- Your spouse's name
- Your spouse's income
- Your spouse's accounts
Not sure, read the post or listen to the corresponding 8-minute audio file below.
