Credit reporting bureaus gather information primarily from creditors and lenders who report the details of all their consumer credit accounts to the credit reporting bureaus. These creditors and lenders work with one or more of the three credit reporting bureaus (banks, finance companies, collectors) on a subscription basis. For an annual fee, a "subscriber" has access to the credit reporting agencies databases. This allows a creditor to post credit status on any loans or accounts a consumer has with them. Typical information on a credit report includes payment history, amount owed, credit line amount, maximum owed, date opened, type of account, type of relationship (personal, business, single, joint). The account types that typically populate a consumer credit report are:
- Bank credit cards (Master Card, Visa, American Express, etc.)
- Retailer credit cards (Sears, Macys, Etc.)
- Student loans
- House loans (Mortgages, 2nd Mortgages, Equity Lines of Credit)
- Vehicle loans
- Personal Loans
Other account types may be included but only in the case of default:
- Utility bills (phone, electric, etc.)
- Rent payments
- Medical bills
- IRS Liens
- Property tax bills
- Attorney's bills
- Other suits and judgments against you
In addition, any information supplied on applications for credit may be added by the lender/subscriber to your personal credit history: name, address, employment, employment type.
