A credit reporting agency compiles your credit report. It is based on information reported regularly to the credit reporting agency by businesses who have issued you credit cards or loans. Landlords, lenders, potential employers, and even your insurance company may use your credit report to determine your worthiness, reliability, and responsibility. Your report contains the following information:
In some situations, a credit reporting agency can include any negative credit history in your report, no matter how long ago it happened. When you apply for $50,000 or more in credit, apply for a life insurance policy with a face amount of $50,000 or more, or apply for a job paying $20,000 or more, the credit reporting agency can report any negative information in your credit report - no matter how old it is.
You can keep your credit report in top form by using your credit cards responsibly. Make payments on time and under the terms of your agreements. Always pay at least the minimum amount required. Paying more than the minimum is always a good idea, but you can keep a good credit record as long as you pay at least the minimum and pay on time.
When you move, be sure your creditors are the first to know your new address. Your bills will continue to arrive on time, making it easier to pay them on time.