Credit Report
A detailed record of your borrowing and repayment history compiled by credit bureaus.
What is Credit Report?
A credit report is a comprehensive record of an individual's credit history, maintained by the three major US credit bureaus: Equifax, Experian, and TransUnion. It includes personal identifying information, a list of all credit accounts (cards, mortgages, loans), payment history, credit inquiries, public records such as bankruptcies, and collection accounts. Lenders, landlords, and employers may review credit reports to assess financial responsibility. Under the Fair Credit Reporting Act (FCRA), Americans are entitled to one free report from each bureau annually at AnnualCreditReport.com.
Example
A consumer checking their Experian report before applying for a car loan discovers an error — a missed payment incorrectly reported. They dispute it under FCRA rights; after investigation, it is removed, raising their score by 30 points.
Source: Consumer Financial Protection Bureau — Credit Reports