Your credit report has everything listed in it, isn't it? At times, we feel as if the credit report is spying on our personal lives. The credit report lists most of our personal information which includes our name, address, social security number, birth date, etc. But you don't have to be disheartened - there are certain facts which are not disclosed in the credit report. Thus, you can keep them a secret.
Here are 5 items which are kept secret and are not reported in your credit report:
1. Medical debts: As per the FCRA (Fair Credit Reporting Act), anything that jeopardizes your medical privacy can’t be reported in your credit report. Thus, unless, your medical debts are sent to collections, it doesn’t get reported in your credit report. However, there is one exception, if you pay off the medical bills with your credit card or through a third-party lender, then the balance could show as a regular debt on your credit report minus any medical information.
2. Pawned valuables: If you have pawned some of your valuables in order to get some money, then they won't get reported in your credit report. However, if you’ve defaulted on the payments and the account is transferred to a collection agency, then that might be reported to your credit report. Apart from that, your re-loadable debit cards are also not reported to the credit report unless you default on it.
3. Crimes that you've committed: Credit bureaus don't report criminal activities on your credit reports. Thus, if you’ve been caught trespassing when you were a teenager, it won’t be reported in your credit report. Thus, it won’t affect your credit score in a negative way. However, there are certain exceptions. If you had a judgment filed against you due to non-payment of any debt, or if a lien has been placed against your property, then it will be reported in your credit report. If you’ve any fine or ticket which goes into collection, then that will also be mentioned in your credit report. Apart from that, child support payments will also be mentioned in your credit report.
4. Employment standing: Your employment status is not mentioned in your credit report. Whether or not you lose your job, it won’t get reported to the credit bureaus. After checking your credit report, no one will come to know about your employment status. However, some of the employment information would be listed in your credit report. If you’ve applied for credit and listed the name of your employer, then the names of your employer or past employers could be on the report. Equifax report will list your last known employer and occupation whereas TransUnion report will list, "if available," your current employer and occupation.
5. Salary: The salary that you receive from your employer will not be mentioned in your credit report. Moreover, whether or not you received a pay cut also won’t be reported to your credit report. Similarly, raises, commissions and bonuses are also not reported to the credit report.