Some Helpful Tips When Reading Your Consumer Credit Report

Having a good credit rating will enable you to get approved when it comes to your loans and lines of credit; however, in order to determine whether you indeed have a positive rating, you must first learn how to read your consumer credit report. That being said, first-timers may have a hard time doing this early on.

In such a case, there is no need to worry. We have listed a couple of tips below to help you read your consumer credit report and efficiently determine your current credit rating.

1. Copy the Credit Report on a Separate Document

If you are viewing or saving the credit report on multiple computers, we advise you to do this. This will help you highlight the critical information without causing you to worry about it being altered by other people viewing it.

2. Check the Accounts That Have Been Included in Your Credit Report

After you finally have a copy of your credit report, you will then be able to check which accounts have been included in determining your current credit rating. You will find a line for each of your accounts, and each will have an account number in it. Therefore, you should check to ensure that the information in the document is indeed the same as the actual accounts.

3. Check for Errors

While reading the report, you should also look for any erroneous entries that may have made their way on the document. Simple mistakes like typos and incorrect account numbers can have a significant impact when it comes to the accuracy of your rating. Therefore, you should always look for and eliminate these errors.

4. Check the Credit Scores of Your Accounts

Your credit scores will also be included in your consumer credit report. You can check if they have gone up or down by going to the bottom of the page and looking for the scores’ ranges provided for your accounts.

5. Check Out the Credit Limits for Your Accounts

As such, your credit limits will be included in your consumer credit report too. Likewise, you can check them by going to the bottom of the page and looking for the credit limits section.

6. Compare the Current Information of Your Credit Report

After you have checked all of the information and the various discrepancies, you should then compare the current information of your credit report with your previous ones. This will help you determine whether you have indeed improved your credit rating or whether there is a need to do something so that it can go up.

7. Order Additional Copies

You can also order additional copies of your credit report if you want to, given that you may acquire one every year. With each copy that you purchase, you can check your credit rating, thus helping you keep an eye on it from time to time.


Knowing how to read your consumer credit report is essential, especially if you want to keep your credit rating in check. By learning how to do so, you can actually build up on your rating, enabling you to get approved faster when applying for loans or lines of credit.

Moreover, this will also help you take the necessary steps after determining that your rating has decreased or that some of your accounts have slipped. Having a positive consumer credit report is essential if you want to qualify for loans in the future, after all.

With all of that being said, if you are looking for a company that provides ,personal loans in Madison, TN, look no further than what we have to offer here at First Finance Madison. We strive to make same day installment loans with concise repayment plans. Call us today and let us discuss all your financial options.