Reviewing a Minor’s Credit Report 

Obtaining a Minor’s Credit Report 

If you haven't yet obtained a report, follow the steps outlined here.

Once you have obtained a credit report, it's important to review the report for errors, inaccuracies, unauthorized accounts or transactions. If any errors are found, you will need to take steps to dispute them. Look out for any unfamiliar inquiries as they could be a sign of identity theft. Generally, but with some exceptions, youth under 18 are not legally old enough to enter into a contract and therefore they should not have a credit file.

Parts of a Credit Report

There are typically 4 main sections of a credit report:

1

PERSONAL IDENTIFYING INFORMATION

May include:

  • Name and Variations
  • Addresses, past and present
  • Employment information
  • Spouse, Co-applicants
  • SSN, DOB
  • Contact information

2

CREDIT HISTORY

Accounts in Good Standing

  • Open and Closed
    • Open stay on the report indefinitely
    • Closed stay on the report for 10 years after date of closure

Delinquent and Collection Accounts

  • Information stays on the report for 7 years from date of first delinquency

3

PUBLIC RECORDS

As of 2018, bankruptcies are the only public records that appear on the credit report*

  • Chapter 13: Up to 7 years from the filing date
  • Chapter 7: Up to 10 years from the filing date


*It is possible for some limited instances of foreclosure records to appear in the public records section of the credit report.

4

INQUIRIES

Soft Inquiries

  • Initiated by consumer and some businesses for education and informational purposes
  • Do not impact credit score
  • Appear only on consumer disclusure reports for 24 months

Hard Inquiries

  • Initiated when consumers apply for credit
  • Hard inquiries in the last 12 months can impact the score
  • Appear on consumer and business division reports for 24 months
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