How are credit reports created? This question is about Credit Reports

How are credit reports created?

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This question is about Credit Reports

Lauren Smith, WalletHub Staff Writer

@laurenellesmith • 02/17/23 This answer was first published on 02/17/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Credit reports are created by the major credit bureaus, which collect personal information such as your address, birthdate, SSN and employer, along with the payment history, inquiries, balances and credit limits related to your loans and credit lines. Your credit report is generated each time it’s requested.

Although there are dozens of credit reporting agencies, most companies and consumers request reports from the largest three, Experian, Equifax, and TransUnion. The contents of a credit report are used to calculate credit scores.

You can check your credit report and your credit score as well as access personalized credit-improvement tips for free here at WalletHub.

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Who prepares a credit report?

What is a credit report?

A credit report is a summary of your recent credit history plus additional personal facts, including your age, address, marital status, employment history and other details that will help potential creditors or employers gauge your creditworthiness.

A credit report includes a record of all credit cards you currently hold, have held, or applied for. It also includes the credit limit and your payment history.

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What are credit reports based on?

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