credit

7 secrets your credit report won't reveal

Credit Cards » 7 Secrets Your Credit Report Won't Reveal

Your salary
Your salary © Phil.Tinkler/Shutterstock.com

Your salary

Salaries haven't "been on a report since the early 1990s," says John Ulzheimer, president of consumer education at CreditSesame. Even then, it was "highly dubious" because the information came from the consumers themselves, he says.

If you ask someone what they will make this year, there are "too many variables," such as layoffs, raises, commissions and bonuses to get an accurate answer, says Ulzheimer.

Another reason you won't see salaries on credit reports: "Income really isn't a measure of creditworthiness," he says. "It's a measure of capacity."

Your credit report and your credit scores are meant to tell "a creditor whether or not you're going to make a payment, not whether you can make a payment," Ulzheimer says.

Other income sources that also don't appear on your credit report: unemployment benefits, alimony, child support or public assistance.

Top Card Offers

The best credit cards for you may be a click away. Check out card offers from our Bankrate.com partners.

See Card Offers

advertisement

Show Bankrate's community sharing policy
          Connect with us
Product Rate Change Last week
Balance Transfer Cards 15.80% --0.00 15.80%
Cash Back Cards 16.42% --0.00 16.42%
Low Interest Cards 11.09% --0.00 11.09%
 
Search
advertisement
CREDIT CARDS WEEKLY NEWSLETTER
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.

advertisement

Credit Card Blog

Jeanine Skowronski

US credit cards to work in Cuba

The U.S. is moving to normalize relations with the nation for the first time since 1961.  ... Read more

Partner Center
advertisement

Connect with us