

What is a credit report?

Your credit payment history is recorded in a report. These files or reports are maintained and sold by “consumer reporting agencies” (CRAs). One type of CRA is commonly known as a credit bureau. You have a credit record on file at a credit bureau if you have ever applied for a credit or charge account, a personal loan, insurance, or a job. Your credit record contains significant information about you. Some of the information is about your employment, debts, credit payment history or if you have filed for bankruptcy.

Do I have a right to know what’s in my report?


What type of information do credit bureaus collect and sell?

Credit bureaus collect and sell four basic types of information:

  • Identification and employment information: your name, birth date, Social Security number, employer, and spouse’s name are routinely noted. The CRA also may provide information about your employment history, home ownership, income, and previous address, if a creditor requests this type of information.
  • Payment history: your accounts with different creditors are listed, showing how much credit has been extended and whether you’ve paid on time. Related events, such as referral of an overdue account to a collection agency, may also be noted.