Credit Report

Definition

A detailed record of your credit history, including your debts, payment history, and credit inquiries. It’s a key tool lenders use to evaluate your creditworthiness.

What to consider

Review your report to catch any errors or suspicious activity.
It’s a snapshot of your creditworthiness used by lenders.
Dispute inaccuracies as soon as you spot them.

Real world scenarios

To prepare for homeownership, Tyrone pulls his credit report and finds an old collection he can resolve. Clearing it improves his mortgage prospects.
Sasha signs up for annual free checks of her credit report, catching any inaccuracies swiftly.
Max notices a newly opened account on his report. He disputes the fraudulent entry and successfully removes it, saving his score from a drop.