Credit Report
What Is a Credit Report?
A credit report is a detailed record of your credit history.
It includes information about:
- Credit accounts
- Payment history
- Balances
- Credit inquiries
- Public records (such as bankruptcies)
Lenders use your credit report to evaluate your risk as a borrower.
What’s Included in a Credit Report?
Your credit report typically contains:
- Personal identifying information
- List of open and closed accounts
- Payment history
- Credit limits and balances
- Hard inquiries
It does not include your credit score — that is calculated separately using the data in the report.
Why Your Credit Report Matters
Errors on your credit report can:
- Lower your credit score
- Increase loan costs
- Lead to denied applications
You are entitled to free annual credit reports from the three major bureaus through authorized platforms regulated by federal agencies.
Oversight of consumer reporting practices falls under agencies like the Consumer Financial Protection Bureau.
FAQs About Credit Report
Does checking my credit report hurt my score?
No. That’s a soft inquiry.
How long do negative items stay on a credit report?
Typically seven years, though some bankruptcies may remain longer.
Can I dispute errors?
Yes. You have the right to dispute inaccurate information.
Is my credit score on my credit report?
Not usually. Scores are calculated separately.
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