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End of Chapter 6 | Credit score report worksheet 1-3

 

Credit score report worksheet

Interactive Element

Let us take a look at a credit card activity that is designed exclusively for you. 

Objective

The goal of this task is to encourage individuals to examine a standard credit report to decipher its individual sections and comprehend its influence on their credit score. This will acquaint you with the terminologies used in credit reports and help you proficiently interpret your personal report.

Instructions

  1. Fetch a sample credit report from one of the three prime crediting institutions: Equifax, Experian, or TransUnion. You can print or download it.

  2. Investigate the sample credit report and offer responses to the questions listed below. A calculator or a spreadsheet will aid in making the required calculations.

Questions

  1. Identify the name and residential details of the person whose credit report this is.

  2. What is the birth date and Social Security Number of this consumer?

  3. How many credit investigation records are there on this person's credit report? Can you provide the dates and origins of these investigations?

  4. How many accounts can you see on this person’s credit report? Among them, how many are active, and how many are inactive?

  5. What's the accumulated balance on all active accounts of this consumer? What is the total credit limit on these accounts?

  6. What's the credit utilization ratio for this consumer? What formula did you use to calculate it?

  7. How many accounts are positively rated, and how many have a negative rating?

  8. Could you mention some instances of the negative items listed on this consumer's credit report? How do these instances impact the consumer’s credit scores?

  9. How many public records are showcased on this person's credit reports? Identify and describe them, providing their dates and sums.

  10. How many disputes could you spot on the customer's credit report? Identify and describe these disputes and suggest ways to resolve them.
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