The credit report of an individual is constituted from data shared by various banks and financial institutions to collate into one comprehensive document. It is a compilation of data on the entire spectrum of the customer’s credit related activity including details on repayment record, credit card limit, previous application for loans or credit card, any settled or written off loans and any other credit related activity.
Broadly, there are following sections in a credit report:
Equifax score: It is the credit score, which is calculated on the basis of your credit history. It ranges between300-900.
Personal information: Includes your name, date of birth, gender and KYC.
Contact information: Address and contact numbers. It may include up to last 4 addresses.
Employment information: Monthly or annual income details as provided by the banks and financial institutions.
Account information: This section includes the details of your credit facilities, account numbers and types, current balance and a monthly record (of up to 3 years) of your payments.
Enquiry information: Every time you apply for a loan or credit card, the respective bank or financial institution accesses your credit report. The system makes a note of the activity in your credit history and marked it as Enquiries.