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Know How To Read Your Credit Report – 3 Must Have Standards

In order for your Credit Profile/Report to be accurate, the law states that there must be 

These 3 Credit Report standards are:

  • First, items in the credit report must be reported within the allowable time periods.  It must be reporting timely information.
  • Second, item must be 100 % accurately reporting all the information on the account.  So all of the information on the account – name of the creditor, account number, status, date of last activity, date the account was opened, date of last delinquency, balance, payment amount and history, all that information must be reported 100% accurately.

These are the three thresholds that every item that they’re putting on a credit report must meet.  If it doesn’t meet it, they must delete it.

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