Your credit report is the single most important financial document you own. It determines interest rates, mortgage approvals, and even rental applications. Yet most people have never actually read theirs.
According to the CFPB, credit reporting complaints increased 182% in 2024, with "incorrect information" complaints surging 247%. Knowing how to read your report is the first step toward protecting yourself.
How to Get Your Free Credit Reports
The only federally authorized source is AnnualCreditReport.com. The three bureaus now allow you to check your report once per week for free.
- Online at AnnualCreditReport.com for instant access
- By phone at 1-877-322-8228
- By mail using the Annual Credit Report Request Form
Pull all three reports because creditors do not always report to every bureau. If you find errors, our credit repair services can help.
Anatomy of a Credit Report: The Four Main Sections
1. Personal Information
Your name, addresses, SSN, DOB, and employer information. Not used in scoring, but errors here can signal mixed files or identity theft.
2. Tradelines (Account Information)
The most important section. Each credit account appears as a separate tradeline with dozens of data fields in Metro2 format.
3. Credit Inquiries
Hard inquiries occur when you apply for credit and can lower your score. Soft inquiries do not affect your score. Look for hard inquiries you do not recognize.
4. Public Records
Since 2018, only bankruptcies are reported. Chapter 7 stays for 10 years; Chapter 13 for 7 years.
Understanding Your Tradelines: What Each Field Means
- Creditor Name and Account Number — The lender and your account identifier
- Account Type — Revolving (credit card), installment (auto loan), or open (charge card)
- Date Opened — Affects your average age of accounts
- Credit Limit or Loan Amount — Determines your utilization ratio
- Current Balance — High balances relative to your limit hurt utilization
- Account Status — A Metro2 code (see table below)
- Payment History — 24-month record coded 0 through 6
- ECOA Code — Your relationship to the account
- Date of First Delinquency (DOFD) — Starts the 7-year clock for negative items
Check out how our process works to understand dispute steps.
Metro2 Account Status Codes: Complete Reference
| Code | Meaning | Impact |
|---|---|---|
| 11 | Current (0-29 days past due) | Positive |
| 13 | Paid/closed, zero balance | Neutral to Positive |
| 71 | 30-59 days past due | Negative |
| 78 | 60-89 days past due | Negative |
| 80 | 90-119 days past due | Severely Negative |
| 82 | 120-149 days past due | Severely Negative |
| 84 | 180+ days past due | Severely Negative |
| 93 | Assigned to collections | Severely Negative |
| 97 | Charged off | Severely Negative |
| 64 | Paid in full, was charge-off | Negative (historical) |
| 65 | Paid in full | Positive |
| DA | Deleted (not fraud) | Removed |
| DF | Deleted (confirmed fraud) | Removed |
A single 30-day late (code 71) can drop your score by 60 to 100 points. If your report shows a delinquency code that does not match your payment history, that is a disputable error.
Payment History Profile Codes
Each tradeline includes a 24-month payment history — a string of codes representing monthly performance:
- 0 — Current, paid as agreed
- 1 — 30-59 days past due
- 2 — 60-89 days past due
- 3 — 90-119 days past due
- 4 — 120-149 days past due
- 5 — 150-179 days past due
- 6 — 180+ days past due
- L — Charge-off
Payment history makes up 35% of your FICO score — the single most influential factor.
What Is DOFD and Why It Matters
The Date of First Delinquency (DOFD) is the date you first became delinquent and never recovered. Most negative items must be removed 7 years from the DOFD.
Watch for Re-Aging
One of the most common illegal practices is re-aging — a collector resets the DOFD to extend the reporting period. If you notice a DOFD that does not match when you actually went delinquent, you have a strong basis for a dispute. Our FAQ page explains the process.
ECOA Codes Explained
- I — Individual account (sole holder)
- J — Joint account (shared responsibility)
- A — Authorized user (not liable for debt)
- C — Co-signer/guarantor
- M — Maker (primary borrower)
A common error: being coded as joint (J) when you are only an authorized user (A). This matters because joint holders are fully liable for debt while authorized users are not.
How to Spot Errors: Section-by-Section Checklist
An FTC study found 1 in 5 consumers had an error, and 5% had errors serious enough to affect loan terms. In Q1 2025, credit reporting complaints crossed 1 million in a single quarter for the first time.
Personal Information Errors
- Names you do not recognize
- Addresses where you never lived
- Incorrect SSN or date of birth
Tradeline Errors
- Accounts you never opened
- Incorrect status codes showing delinquency when you paid on time
- Wrong balance or credit limit amounts
- Incorrect ECOA code
- Re-aged DOFD extending the reporting period
- Duplicate accounts (same debt listed twice)
Inquiry Errors
- Hard inquiries from companies you never authorized
If you find errors, you have the right to dispute under the FCRA. See our pricing plans for options.
Frequently Asked Questions
How often should I check my credit report?
At least once every four months. With free weekly access now available at AnnualCreditReport.com, check more frequently if monitoring for errors or recovering from identity theft.
What is the difference between a credit report and a credit score?
Your report is the raw data (accounts, payments, balances). Your score is a number calculated from that data. Think of the report as your transcript and the score as your GPA. Errors in the report directly cause inaccurate scores.
Can I dispute a Metro2 code directly?
Yes. Under the FCRA, you can dispute any information you believe is inaccurate. The bureau must contact the furnisher to verify within 30 days. If unverified, it must be removed.
How long do negative items stay on my report?
Most negative items: 7 years from DOFD. Collections: 7 years + 180 days. Chapter 7 bankruptcy: 10 years. Chapter 13: 7 years. Hard inquiries: 2 years.
Take Control of Your Credit Report
If you have found errors or are overwhelmed by what you see, Flow Credit Solutions specializes in identifying inaccuracies and building dispute strategies based on Metro2 data. See how our process works and take the first step today.