It is said that credit report is one document which reports everything pertaining to you. But is it correct? Well, not really. Though it is true that your credit report will mention various personal details like name, address, Social Security number birth date, etc. but it does not include certain details. Here is a check list of items which is not mentioned on your credit report:
1. Employment status: Even though you lose your job or you face a decrease in your salary due to the present economic situation, this won't be mentioned on your credit report. Name of your present employer or your past employers may be mentioned but the status of your employment won't be mentioned. Equifax will report your last known employer and occupation but not the dates of your employment.
2. Salary: A credit report will never mention your salary. This is mainly because no one can predict his/her salary as there are various variables included in it such as commissions, bonuses, hike, layoffs, etc. Moreover, income can never be a criterion to judge a person's creditworthiness.
3. Credit history of your spouse: Your marriage won't lead to a joint credit file. Both of you will have a separate credit report and your spouse's negative or positive credit items won't affect you in any way. Thus, it won't be mentioned in your credit file.
4. Medical bills: As per the FCRA, listing of your medical information on your credit report is prohibited. Thus, your medical bills and debts won’t be mentioned in your credit report unless the account goes into collections.
5. Criminal activities: Your criminal past won't be featured in your credit file. Though you may have been arrested for trespassing when you were a teenager, you won't have to worry about it as it won't be mentioned in your credit report.
6. Net worth: A credit report will mention all your current and recent past debts. However, it won't include your net worth. There is no information in the credit report mentioning the fact as to how much you have in your bank account or in stocks and bonds.
7. Non-traditional loans: Most of us don't know that loans resulting from pawning your own valuables or taking out a payday loan won’t appear on credit report unless you default on it and it goes into collections. Apart from this, it should also be kept in mind that re-loadable debt cards also won’t appear on your credit report as it is not considered as a credit to you.