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What a Credit Report Really Is

A person’s credit report is like a map of how they have been living their life, if they are worthy enough to be trusted by credit lenders, and how they have been living their lives with the credit that they already have.

What is Your Credit Report

                Your credit report is a detailed record of your entire credit history. It contains your credit card history, loan history, places of employment, places in which you have lived, names that you have used, lenders that have denied you credit, and payment history. Your credit report is very important and can help you get a good APR, take out loans, or even make your monthly payment lower if your credit score is higher. Always remember that your credit report is very important and you should take advantage of the free yearly report that can be obtained online at anualcreditreport.com, which is the only website that is authorized by federal law that entitles you to a free annual credit report.

Are the Credit Report and Credit Scores the same

                A quick answer is no; these are not the same. A credit report is a detailed history of your credit as you can see above in previous paragraph, a credit score is what lenders use to determine your APR and if you can be approved for a loan through them.

What is a Credit Report Used For

                A credit report is used by lenders to make a decision on whether or not to lend to you. If your credit report shows that you do not pay loans on time, have insufficient credit history, or anything else that might call for alarm, these lenders may not lend to you. This is why it is important to check your credit report at least once a year.

What if I find something that is inaccurate on my Credit Report


                By law, once you contact the credit bureau they have up to 45 days to fix the inaccuracy in your report. If you do find something that does not belong, keep after them and make sure that it is removed. This does not mean that you can get bad reports off of your credit history, only the history that is not yours or is inaccurate. 
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