What type of information do credit bureaus collect and sell?

There are four types of information that are stored on your credit report. These four distinct types of information are collected by Credit Bureaus who in turn obtain them from public record and creditors:

Identification and Employment information - Your name, birth date, social security number, spouse's name, and your home address will all most likely be on your credit report. Previous addresses, previous and current employer names and addresses may also be listed on the credit report. Sometimes, home ownership will also be listed.

Bankruptcy, Forclosures & Other Public Records - If you have had a bankruptcy, this information will be listed on your credit report for a fixed amount of time. There will also be records of tax liens, court judgments, or foreclosures. Many people are distraught to see such personal information listed in all in one place, but if the information is public record, it will most likely be located on the credit report.

Payment History - This information may be the most crucial to your financial future. The record of all open and closed accounts, current revolving credit accounts, and major loan accounts in repayment will be listed on the credit report. This information is what often determines whether you will be able to get further credit or qualify for good rates on an auto loan or mortgage.

Credit Inquiries - While this information is not on your credit report, this information can be obtained from the credit bureaus who issue your credit report. Credit Bureaus are required to keep a record of all of the companies who request your credit report for credit purposes for one year, and a record of those companies that request your credit report for employment purposes for two years.

As you can see, Credit Bureaus and your credit report contain a wealth of information. It is crucial that you monitor this information and keep your credit profile current.