Credit Bureaus: What Gets Reported and What Doesn’t
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Your credit report can make or break major financial decisions, from loan approvals to apartment rentals and home purchases to job opportunities. But despite its importance, many people aren’t quite sure what goes into a credit report, or what stays out of it. As confusing as it can be, don’t worry. Let’s take a look at what goes into a credit report.
The Big Three Bureaus
When people refer to “credit bureaus,” they usually mean the Big Three:
- Equifax
- Experian
- TransUnion
These agencies collect financial information from banks, credit card companies, lenders, and public records. Each bureau maintains its own report for every consumer with a credit history, and although the data is often similar across all three, there can be differences in what’s reported or when.
These bureaus aren’t government entities; they’re private companies. Their job is to compile information that helps lenders assess risk. That’s why they focus on credit-related behavior rather than every financial or personal detail of your life.
Who Checks Credit Reports
A wide range of entities can access your credit reports, depending on the purpose. Lenders and credit card companies use them to evaluate applications. Landlords might check your report when you apply to rent an apartment. Insurance companies may use credit information to help set premiums. Some employers (in certain states) even look at a modified version of your credit report during the hiring process.
Each of these checks has rules and limitations, especially under the Fair Credit Reporting Act (FCRA), which governs how and when your credit information can be accessed.
Rationale Behind Included Metrics
Credit reports focus on information relevant to lending risk. In other words, the bureaus track data that suggests how likely you are to repay debts on time. That includes your history of making payments, how much credit you use, the types of accounts you have, and how long you’ve had them.
What doesn’t get included is often just as important. For example, owning valuable assets like a home or car doesn’t necessarily show up unless they’re tied to a loan. Similarly, your income or job title doesn’t appear directly. Why? Because those details aren’t always reliable predictors of repayment behavior, and they’re more prone to discrimination or bias.
What Gets Reported
Now that we’ve covered the logic behind credit reports, let’s dig into what actually gets reported.
Hard Checks
Whenever you apply for a new loan, credit card, or even some rental applications, a “hard inquiry” is generated. This means the lender is checking your credit report as part of making a lending decision. Hard checks are recorded in your file and can impact your credit score slightly, especially if you rack up several in a short time. These remain on your report for about two years, though their impact fades over time.
Defaults
Missed payments, charge-offs, and collections all show up on your report, and they’re a major red flag to potential lenders. If you default on a loan or credit card, that negative mark can remain on your credit report for up to seven years. Even if you eventually pay the debt, the fact that you fell behind will likely still be visible.
Credit History
One of the most important parts of your report is your overall credit history. This includes how long your accounts have been open, your payment history on those accounts, and your credit utilization (how much credit you’re using versus your limit). Longer histories and consistent on-time payments help build a stronger credit score.
And...
Other reportable items include bankruptcies (which can stay on your report for 7 to 10 years), foreclosures, and repossessions. Even things like late utility payments can show up if the account is sent to collections. Public records tied to financial activity, such as civil judgments and tax liens, were once common on credit reports, but most were removed after a 2017 settlement. Still, if financial records are court-related and verifiable, they might appear in some form.
What Doesn’t Get Reported
It’s just as important to know what credit bureaus don’t include, either because it’s not relevant to lending, or because privacy laws restrict it.
Medical Records
Credit bureaus don’t collect details about your medical history or the specific nature of any treatments. If you fail to pay a medical bill, the unpaid debt might be sent to collections and show up on your report, but not the diagnosis or procedures involved. Recent rules from the major bureaus have made medical debt reporting less aggressive, particularly for paid-off accounts.
Employment Info
While some credit reports may list your employer, the information is minimal and not always updated. Your job title, salary, or employment status doesn’t affect your credit score and isn’t consistently tracked. That said, lenders might still ask for employment verification separately when you apply for credit.
Assets
Owning property, savings, or investments isn’t reflected directly in your credit report. That’s because the report isn’t a full picture of your financial health, it’s a snapshot of your credit behavior. A millionaire with no loans or credit cards might have a very thin credit file. Conversely, someone with debt but a strong repayment history could have a high score.
Personal Information
Credit reports include basic identifying info like your name, Social Security number, date of birth, and address history, but not your marital status, religion, race, political affiliation, or immigration status. These categories are excluded to prevent discrimination and are not relevant to assessing creditworthiness.
Conclusion
Understanding what gets reported to credit bureaus, and what doesn’t, puts you in control of your financial reputation. Focus on the behaviors that do matter: making payments on time, keeping balances low, and avoiding unnecessary hard inquiries. Don’t stress over things like your income or medical history, they’re not part of the equation. For more on credit, reporting, and learning about building up good credit, sign up for our newsletter and become a Consumer INsider!
