Understanding Tradelines on a Credit Report Part 1

Studying a tradeline

A Tradeline is a representation of your account where you have borrowed money. On a credit report each tradeline contains different listed advice about the particular consideration such as date exposed, amount, payment history, conditions, balance, Account Type, Particular date Last Reported, etc. A tradeline even offers a Position section which shows the current status of the account; this section will reflect “Current” if the account is in good standing. The tradeline will also have a Large Balance and an Equilibrium, the High Balance is major balance that is on the account while the Balance is what is currently owed. au tradelines for sale

Examining the Lates Section

The lates section of a credit history is one of the more intimidating sections to try and read, but it is infact
quite easy. The payment history parts contain 3 columns, 40, 60 and 90 days and nights late, each column has a value this presents the number of lates that the tradeline has. 

Reading the Payment record

This portion of the credit report can be reported in several ways so I will be using the format from a CreditAPI XML Merged Credit rating Report but most credit reports will use this format. Under “History” section of the tradeline, it can list a date (if there are any lates) then the series of 0’s, 1’s, or -‘s. The date is the day of the lates that are reported on the account and then for the next section the 0’s signify current on time repayments and the 1’s stand for a missed payment. The -‘s are unknown and were most likely never reported to the credit repositories, you may need to inquire with them to learn more information.