Credit Reports

This section contains the

persons name and address,
along with the Social Security
number and date of birth. It
also tells the previous address
and employment information.



This section contains publicly
available information about
legal matters related to credit.
It might include judgments,
tax liens or bankruptcy history.


This section lists information
about each credit account
opened in the persons name.
It identifies the lender and
contains balance and payment
information for the
loan.












This section lists
information about anyone
who has accessed this credit report.
Credit Reports
Answer these questions in complete sentences using the sample credit report on Page 1. [15 points]
1. What is the total credit limit on the two revolving credit card accounts? [1 point]
The total credit limit is $3,500
2. What is the persons current debt? [Hint add current balances] [1 point]
The persons current debt is $8,620
3. Are there any accounts that are past due? [1 point]
Not there are not any past due accounts
4. Why would the information in Personal Identification Information be important to a lender? [3 points]
Incase the lender needs to reach out to the client they have their contact information

5. Why would the information in Public Record Information be important to a lender? [3 points]
So that the lender knows what the clients history is with paying their dues.

6. Why would the information in Credit Account Information be important to a lender? [3 points]
So that the lender knows if the client is in debt or if they are reliable

7. Why would the information in Recent Credit Inquiries be important to a lender? [3 points]
To see what kind of purchases the client makes and to see if they pay the credit bill.