Example credit report
This is an example credit report and not based on the format of any one credit reporting agency.
The italicized text explains what types of information are found in each section.
It is for example purposes only. Readers should note that each credit reporting agency has its
own format that will vary in layout, look, and level of detail reported.
This example is fictional. The credit card payment schedule is based on a credit card with a 22%
APR. In this example, the individual is paying down a high balance of $9,869, paying the
minimum payment each month calculated at 4% of the balance, and not using the card to make
additional purchases. While credit card companies use a variety of methods to determine
finance charges, a simple interest calculation was used for the purposes of this example.
Amounts were rounded to the nearest dollar.
According to the credit card payment calculator on Bankrate.com, making the minimum
payment of 4%, it will take the consumer 15 years and 3 months to pay off this credit card debt.
The consumer will also pay $8,165 in interest assuming no late fees.