Those cryptic credit reports

Home Office Computing, Feb, 1998 by Carol Leonetti Dannhauser

ACCOUNT: Norwest Mortgage, Frederick, MD Finance Acct #591335XXXX This conventional real estate mortgage was opened 08/16/93 and has 30-year repayment terms. You are obligated to repay this joint account

ORIGINAL AMOUNT: $256,000 As of 08/01/93, this open account is current and all payments are being made on time

SCHEDULED MONTHLY PAYMENT: $2,341

LAST PAYMENT REPORTED: 03/01/97

BALANCE: $247,112 on 03/21/97

MONTHS REVIEWED: 44

Here's something else a banker can smile about. You pay your mortgage on time, and because it's a joint account, you're spreading the risk.

INQUIRY: Cellular One, San Francisco, CA Utilities 07/24/95 inquiry made for credit extension, or other permissible purpose

Don't sweat the small stuff--there's nothing here that creditors will get hung up about. They'll assume that you've applied for new credit at Cellular One, or that you currently have an account, and the company wants to review your situation before amending your terms.

In addition to helping you keep tabs on your standing with lenders, regularly reading your credit records offers another advantage: junk-mail control. At the end of your credit report, you'll find a list of companies that pulled your report prior to mailing you pre-approved credit cards. If you've been showered with unwanted plastic, write directly to the offending parties and ask them to remove you from their mailing lists (you can always reapply later). After all, it's the least you can do to reward yourself for having a clean credit record.

Business reporter CAROL LEONETTI DANNHAUSER, who has written for The New York Times, is always striving to maintain spotless credit.

RELATED ARTICLE: Where Credit's Due

The three major credit reporting companies will provide you with your report upon written request for free or for a nominal charge (depending on where you live). If you've been denied credit within the last 30 days, you're entitled to receive a report at no charge. Here's where to go:

Experian, P.O. Box 949, Allen, TX 75013-0949, 800-682-7654, www. experian.com

Equifax Information Service Center, P.O. Box 105873, Atlanta, GA 30348, 800685-1111, www.equifax.com

Trans Union Corp., Consumer Disclosure Center, P.O. Box 390, Springfield, PA 19064-0390,800-916-8800, www.transunion.com

For more information, check out Home Office Computing's credit minisite at www.smalloffice.com.