Do you really understand your credit report?

Anytime you apply for a credit product (mortgage, car loan, credit card, etc.), your lender is required to check your credit report. Understanding what makes up your credit report is part of important financial literacy, and will help you ensure your credit is in good-standing. What’s included in my credit report? Credit accounts/transactions: credit cards, retail cards, lines of credit and loans Telecommunications accounts: phone and Internet Bad banking history: NSF fees, missed payments, etc. Public records pertaining to credit: bankruptcy, legal judgments, liens, etc. Collection agency debts Inquiries from anyone who has requested your credit report before Is my mortgage part of my credit…