Credit Reports
How do I read it?
There are three main credit bureaus - Equifax, Experian, and Trans
Union - each of their credit reports look different. Your credit
report will have many codes on it. You will have a key, or explanation
with the report. It's important to study it and see what is in the
report. You might see "inquiries" on your report. For
example, when a person is buying a car, and shopping price, it is
possible that several car dealers ran a bureau report. Sometimes
a creditor will turn down a person for "excessive inquiries",
thinking that the person has been recently applying for a lot of
credit and been turned down.
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