What Won't I See When I Check Credit Score Details?
When you request a copy of your credit report, you will see many different sections with different sets of data inside. Whilst credit score reports are very comprehensive - there are a number of things which are not included in them. Ultimately, anything which is not included will not show up during a credit check, and therefore will not be viewable by potential creditors.
Let's take a look at what details don't show up when you check credit score data included in your credit report.
Everyday Transaction Accounts
One of the major exclusions of credit reports is that they do not provide any information on the current state of your transaction and checking accounts. For all we know, you could have a negative balance of ($2,000) in your account, or a positive balance of $40,000.
Either way, no one who pulls data to check credit score details will be able to see how much money you currently have. Ultimately, this could work in your favour - or it could also negatively affect your chances of getting credit.
Irrelevant Personal Details
Many people are already uncomfortable when they see the amount of personal data included in their credit report. However, there is a limit as to how much personal data can be included. Therefore, when you check credit score reports - whether it be your own or someone else's, you won't see the following information on them:
- Race / ethnicity
- Gender
- Religion
- Political affiliation
- Medical history
- Criminal records
At the end of the day, whilst some of these things could well affect the credit worthiness of an individual (i.e. a criminal history) - the government and law have deemed these areas completely out of bounds in terms of credit reporting.
Credit Score Calculation Details
When people check credit score information, they often expect to find detailed information on how their credit score was calculated. This is not the case. No credit reporting agency allows their credit score algorithm to be revealed - and this is why all credit reporting agencies give you a different score.
Whilst there are guidelines as to how different sections of your credit report affect the overall credit score, don't expect to find exact calculations when you check credit score details.