Step 2. Read And Understand Your Credit Reports

We are going to throw a lot of information at you in this section. Don't worry, you don't need to memorize it. Just use it as a reference. Our recommendation is to review your report but leave the difficult part of dissecting and correcting it to the experts. This is exactly what credit repair companies do and since this is their area of expertise they are much better at it than you will ever be. Just give them your credit report(s) and they will go to work for you. We arranged for you to get a free consultation from what we think is one of the best credit repair companies out there. To take advantage of this special free no obligation offer please go to Credit Repair page.

Typical Credit Report Decoded:

Creditor Name & Account Number
The name of the Credit Grantor, Bank or Credit Card issuer. This is followed by the Account Number. NOTE: Account numbers may be truncated due to regulatory privacy requirements.

Date Reported
This is the date the information was last reported to the credit agency.

Date Opened
This is the date the account was opened.

Date of Last Activity (DLA)
The date of last payment or other activity on the Account.

High Credit
This is the highest balance reported or credit limit on the account.

Balance Owing
This is the balance on the account as of the Date Reported.

Past Due
This is the dollar amount that the account is past due, if any, as of the Date Reported.

Historical Status

Months Reviewed
The number of months reviewed by the Payment History.

30 60 90
The number of times the applicants account was 30, 60 or 90 days past due.

Manner of Payment
The current rating on the account.

Type of Account

Rating

Source
Lists the repositories where the tradeline information originated for each tradeline.

Kind of Account