Credit Profiles - Understanding the Specifics

A credit profile is a compilation of an individual’s use of credit. Like most profiles, it begins with indentifying information including an individual’s name and address. It also includes information on current and past places of employment.

The bulk of the credit profile consists of information on credit usage. Here is where information regarding the individual’s credit accounts is listed. For each account listed, the credit profile provides information about the length of time the account has been open, the account’s credit type and current balance, and the monthly payment history for each account. Late and missed payments show up here as do payments made on time.

If applicable, the credit profile also displays information obtained from public records such as tax liens and bankruptcies. Finally, a credit profile maintains a list of recent inquiries made to the individual’s credit report including the institution that made the inquiry, date of the inquiry, and reason for the inquiry.

Income, religion, race, criminal, driving and health records, and your political affiliation are not part of your credit profile.

By analyzing the information in a credit profile, a lender gets a good idea of the way you have managed your financial obligations, which in turn, helps a lender determine your creditworthiness.