How to read your CRB report

How to read the CRB report? What information will you find in different sections of this report? Learn, how to analyze your CRB report, and how can you benefit from this.

CRB report is made of a few sections. All of them contain a specific set of information.

If You know the meaning of all the data from your CRB report, you have precious knowledge. Analysis of all sections enables you to understand your creditworthiness. It helps you to find any errors that could affect your situation.

At times, errors can arise on your CRB report, and this might completely change your CRB status to positive, in case you had a debt. Or, the worst can happen where your CRB status is negative, yet you are clear of any debts.

These errors arise due to malfunctions and typing errors. Worry not as we take you through the process of analyzing CRB report. 

How can you get the CRB report?

Request for a free copy of your credit report if you do not already have one. Check by dialling Metropol’s *433# or credit info’s website. Alternatively, you can send a quick SMS with your full name to 21272 for TransUnion.

What are the different sections of a CRB report? What errors can occur in those sections?

Personal information section

This is the section that describes who you are. It may include your name, date of birth, home and work addresses, phone contacts, and emails.

Carefully cross-check on spelling and letter alteration on names and addresses. Ensure the addresses indicated are right and belong to you.

If you find interchanged names, wrong spelling, addresses of places you have never stayed at, this should ring an alarm. Contact CRB and report it.

Credit summary

The credit section indicates your current and prior credit history.

Ensure that the total number of accounts listed right. Make sure the accounts and their balances do not seem higher than they should be.

In case of any inaccuracies in any area of the credit summary section, check the account history of your credit report. It will give you more detailed information on an account by account basis.

Accounts details

Make sure all of your accounts are in good standing and are well represented. Ensure that the information in this section is accurate. 

Pay especially close attention to any information related to delinquency, collections or past due accounts. All of these things negatively impact your credit report and credit score.

Not all creditors report account data to all credit bureaus. If you don’t see an account that you believe to be in good standing, contact your creditor and ask them if they report your account information. 

Make sure you recognize all of the creditors and accounts listed in this section.

• Inquiries

This section shows that companies have requested for your credit information from CRB. You can see here requests from companies that received your loan requests.
Ensure you know the name of all the companies that requested the inquiry on you.
If you don’t recognize the name of a company listed in this section, then research it to find out whether or not you had initiated a credit inquiry with them.

Make sure to take note of the total number of hard inquiries and their dates since hard inquiries may have some negative impact on your credit score.

• Credit score band

From this section, borrowers can know which credit band they belong to. This section explains what your credit score means to lenders and how it will impact their perception of your loan risk.
If your credit band seems suspicious to your gut, recheck all accounts and inquiries data to ensure accuracy.
Borrowers are advised to contact the lenders whose information they might not fully agree with. This will help clarify the confusion at hand.

• Dispute file information 

If you find information that you believe is inaccurate on your credit report, act quickly as this could be an early warning sign of possible identity theft.

In addition to disputing inaccurate information with CRB, we strongly suggest that you contact the company that reported the account information to them in the first place.

Is the clearance certificate invalid in case of errors?

Yes, the clearance certificate is invalid in case of any slight error. A different character on your ID number or address will change the data.

Lenders systems might fail to recognize your credit report. 

When there is an interchange of names and characters in your designation, a lender might consider the credit report as belonging to somebody else.

How much are you charged for correcting your CRB report?

You are not charged for correcting information on your credit report.

The CRB Regulation 2013 (clause 35) provides for a mechanism to correct wrong information appearing on a credit report, known as “ the Right to dispute”. 

If a dispute is not resolved within 21 days, it should be expunged from your profile.

Customers are advised to lodge disputes directly with the Credit Reference Bureau that furnished the wrong credit report. 

For quick solutions to any CRB challenges, privately message any CRB companies with your ID number and service needed on social media.

CRB will give you information on (credit report, clearance certificate, listing status, credit score). Note that CRB will not provide any photo description.