Examples

Below you will find an example of a Credit Report you could receive while doing business with us. You can also download a copy onto your computer by clicking the link here.

Along with the example are 3 pages that will detail and explain each line of the credit report you may receive. The most important lines for a landlord are the Credit Score, Credit Summary, Public Records, Collections, Trades, and Inquiries.

Credit Score: The credit score is much like the score on a test. The higher the number scored the better. Credit scores range from 300-999. We usually say that anyone who scores above a 600 has a generally good credit report. Anyone scoring below 500 has a poor credit report. Between 500-600 is a "gray" area. However, it's not good to just rely on someone's score to decide whether or not to rent to them. It's also a good idea to weigh their score and their income/job security with other factors.

Credit Summary: This section of the credit report summarizes all the accounts and inquires.

Summary Top Line:
Along the top will be a list of the total amount of Public Records (PR), Collections (COL), Negative Trades , Trades (TRD), Revolving Accounts (RVL), Installment Accounts (INST), Mortgage Accounts (MTG), Total Open Accounts (OPN), and Inquires (INQ).

Debt Chart:
This is a list of the total debt this person has accumulated. It includes their High Credit, Total Balance, Monthly Payments, and Past Due amounts. For Revolving accounts it's also listed their total amount available to charge. (Pay Available)

Public Records: This section is reserved for claims against your applicant. There are a few different types of accounts you will see under public Records.

Judgments:
Judgments are cases that have one party suing another. In most cases the suits are for either evictions or other matters such as accidents. The credit report will list the total amount of the money and the name of the Plaintiff.

Bankruptcies:
You may also see a Bankruptcy on your applicant's credit report. The credit report will detail when the Bankruptcy was filed and whether or not it discharged or not.              

Collections: Collections have a wide range of diversity. They range from medical bills to past due student loans and credit cards. It's not uncommon for an applicant to have a few collections they are not aware of.

Trades: This section is where all open and recently closed accounts are listed. Past due or not. There are a few different types of accounts: Revolving, Installment, and Mortgage.

Revolving:
Revolving stands for accounts such as Credit Cards or Charge Accounts. The account will have the letter R next to the rating to designate it.

Installment:
Installments are reserved for non-housing loans such as student loans, car notes, and even furniture sales. The account will have the letter I next to the rating to designate it.

Mortgage:
Mortgages are self explanatory. Any Loan taken out against the value of someone's home will be listed here. The account will have the letter M next to the rating to designate it.

Inquiries: The last 2 years of inquiries will show on a person's credit report. They're in reverse chronological order at the end of the report. On the end of all reports at the inquiries section you will see Advance Credit Reports on top with the date we ran the report.

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