how to read a transunion credit report

How to Read Your TransUnion Credit Report

1. Personal Information Section

• This section includes your name, aliases, Social Security number, birth date, current and past addresses, and sometimes employment information.
• Check for: Correct name spelling, accurate address history, and any other identifying information. Inaccuracies in this section could suggest identity issues or errors.

2. Account Information Section

• Here, you’ll find all open and closed accounts, including credit cards, loans, and mortgages, along with account numbers, account types, balances, and payment history.
• Key Metrics to Review:
  • Account Status: Open, Closed, Paid in Full, etc.
  • Payment History: Late payments are flagged here and can significantly impact your credit score.
  • Balances: Accurate reporting of outstanding balances.
  • Credit Limits and Loan Amounts: Verify that these numbers are correct for each account.

3. Public Records Section

• TransUnion includes public records that might affect your credit, such as bankruptcies, tax liens, and civil judgments.
• Check for: Correct amounts, dates, and statuses. Ensure any resolved or outdated public records are updated.

4. Credit Inquiries Section

• This section lists recent inquiries on your credit. Hard inquiries (like loan applications) impact your score, while soft inquiries (such as account reviews) do not.
• Check for: Unauthorized inquiries, which can sometimes indicate identity theft. Make sure you recognize each hard inquiry, as they can lower your credit score if they are frequent.

5. Negative Accounts Section (if applicable)

• Accounts with negative statuses (e.g., delinquent, charged off, sent to collections) appear in this section.
• Check for: Accurate statuses, amounts owed, and dates of any derogatory remarks.

Comprehensive Credit Report Review Checklist for TransUnion

Use this checklist as you go through each section of your TransUnion report to ensure a thorough review.

Credit Report Review Checklist

1. Verify Your Personal Information

• ☐ Correct full name, spelling, and any aliases.
• ☐ Current and past addresses are accurate.
• ☐ Social Security number and date of birth are correct.
• ☐ Employment information (if included) is up to date.

2. Check Account Information

• ☐ Review each account’s status (open, closed, paid in full).
• ☐ Confirm account details, including lender names and account numbers.
• ☐ Check balances on active accounts for accuracy.
• ☐ Verify credit limits and loan amounts to make sure they match your records.
• ☐ Look for any late payments incorrectly marked, as these can affect your score.

3. Examine Public Records

• ☐ Confirm any listed public records, such as bankruptcies, are accurate.
• ☐ Check the dates, amounts, and statuses for any public records.
• ☐ Outdated tax liens and civil judgments should not appear, as they are no longer included on credit reports.

4. Review Credit Inquiries

• ☐ Confirm all hard inquiries are authorized and recent (within two years).
• ☐ Recognize soft inquiries, which do not impact your score.
• ☐ Flag any unfamiliar inquiries, which may signal identity theft.

5. Identify Potential Errors

• ☐ Look for unfamiliar accounts that may signal identity theft.
• ☐ Ensure there are no duplicate entries for the same account or debt.
• ☐ Verify payment histories for each account are accurately reflected.

6. Document Discrepancies

• ☐ Record each error or issue you identify in your report.
• ☐ Gather supporting documents, such as statements, for any disputes.

7. Submit Disputes to TransUnion

• ☐ Use TransUnion’s online dispute center or mail options to report inaccuracies.
• ☐ Include documentation to support your claim and request a correction.
• ☐ Follow up within 30-45 days to verify that the dispute is resolved.

8. Track Your Progress

• ☐ Set reminders to monitor changes in your credit score after disputing errors.
• ☐ Use credit monitoring services to watch for any unexpected changes or suspicious activity.