Your credit report is a compilation of your personal and financial data, gathered and maintained by a credit reporting agency. The information contained on your personal credit report can mean the difference between "approval" and "decline" on your next application for credit. Find out what kind of information may be contained in your personal creidt report.

Of greatest interest to potential lendors is the history of your past and current credit transactions, including any accounts with banks, retailers, credit card companies, and other lenders. This information is used by creditors to determine your past financial behavior, current level of debt and available credit, and other factors which may affect your creditworthiness.

Your report also includes personal information like your current and prior mailing addresses, Social Security Number, year of birth, spouse's name, and employment information. It may also contain public record information, such as bankruptcies, tax liens, or any monetary judgments against you.

Federal laws help regulate how your credit file is used, and who can access the information in your credit report. Only companies with a legitimate reason to view your credit information, such as banks, mortgage lenders, etc., are permitted to access your personal credit information. Potential employers can only access your credit report with your express permission.

Due to the massive volume of information processed by credit bureaus, inaccuracies may occasionally occur. By reviewing your credit report regularly and properly disupting any discrepancies, you can help prevent potential delays or denials in receiving credit.