Credit Reports

In order for credit providers to offer the right product to a customer, they have to determine his or her creditworthiness. A credit report is a documented history of a consumer's credit behavior. It is a detailed, up-to-date account of how an individual uses credit and his or her repayment patterns.

When someone applies for a loan or credit card, the issuer may "pull" the applicant's credit report. The credit bureau information is compiled by independent companies called credit bureaus, which will provide you with a copy of your report for a nominal fee. The three largest U.S. credit bureaus are Equifax, Experian and TransUnion.