Here's a guide to help you read and interpret the key sections of the TransUnion Full Credit Report.
1. Personal Information
SSN Message: During the identity verification process, the applicant enters their SSN which is compared to the SSN in their TransUnion file. The message in this field will tell you the comparison results.
"Exact SSN Match": This means the SSN the applicant entered is an exact match to their TransUnion credit file.
"Partial SSN Match": This means the SSN that the applicant entered was slightly different than the SSN in their credit file. This does NOT mean that the credit report is incorrect. TransUnion still confirmed their identity and released the correct file. This can happen if the applicant makes a typo during the process.
Address History: Lists of current and previous addresses that have been reported to TransUnion. Addresses are reported in situations like applying for a line of credit. The Reported date is when the the applicant was first reported as being associated with the address.
2. Profile Summary
Record Counts:
Tradelines: Total number of credit accounts (credit cards, car loans, etc.)
Collections: Total number of collection accounts
Public Records: Total number of public records (bankruptcies)
Inquiries: Total number of credit inquiries (typically 2 years of history)
Derogatory Items: This section summarizes any negative marks, such as late payments or accounts in collections.
Tradeline Summary: Quick view of all accounts, broken down by the type of account
Revolving: Credit accounts where the balance and amount due changes
Installment: Credit accounts that are paid off
3. Resident's Score
Score: While similar to a credit score, the Resident's Score was developed specifically for the rental industry to assess tenant related risk. TransUnion created this risk scoring model after compiling nationwide credit data from 2.9 million individuals that led to negative rental outcomes.
Key Factors: List of factors that impacted the score.
4. Individual Tradeline Details
Details: View important dates, terms, credit limits, account type, current status and balances for each account.
Payment History: This graph details monthly payment history and provides an easy to read visual for late payments.
5. Inquiries
These are lender requests to view the file when applying for credit, such as a loan or credit card. Only hard inquiries within the past 2 years will appear on a credit report.
6. Collections
Totals: A snapshot of collection accounts and total balance owed
Individual Collection Account Details: Information about each account including the open date, original lender, status, and balance amounts. Keep in mind that medical and student loans collections won't impact the score.
