WalletHub, Financial Company
@WalletHub
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.
Sydney Garth, Credit Cards Moderator
@sydneygarth
A credit report is a record of an individual’s history as a borrower, compiled by one of the three major credit bureaus: Equifax, Experian, or TransUnion. Each credit bureau produces its own credit report, and all major credit scores are calculated using the contents of these reports. Credit reports contain information about any loans and lines of credit a person has open, as well as inquiries and accounts closed in the last 10 years. Credit reports also include biographical information such as your name and address, along with records related to unpaid bills sent to collections and certain public records – bankruptcy and unpaid child support, for example.
Your credit report is used by lenders, landlords, insurers, employers, and anyone else who might make decisions based on your history with credit. These parties must have a “permissible purpose” in order to be granted access to your credit report, according to the Fair Credit Reporting Act. Given the importance of your credit data, it’s very important to check your credit report periodically and file a dispute for any incorrect information.
You can view your free TransUnion credit report, updated daily, through your WalletHub account. You can also read more about what to expect from our guide on What’s Included in Your Credit Report.
Robert Wilson, Financial Advisor
@RobertWilson1
It is report that tell creditor if you pay your bills on time. There are 3 major credit reporting agency who recieve their information from lending instiution such as banks, credit card issuers and companies that provided auto loans such as GMAC. They than report if you are on time, late or are behind on your payments. Courts also report if you have judgements againest you and collection agency report if they are after you for none payment of your accoubts like gas and water bills or rent. With all of this information the credit report rate you as to the chance you will pay your bills.
People also ask
Why is a credit report important?
A credit report is important because lenders, creditors, landlords, employers, utility companies and other businesses use it to determine your ability to repay debt, which is an indicator of your overall trustworthiness. Your credit report is also used to calculate your credit score, which affects your ability to borrow and the cost of doing so.
Reasons Why a Credit Report Is Important
- Determines borrowing costs: Borrowers with a strong credit profile...
How do I get a free credit report?
You can get your free credit report, updated daily, on WalletHub.
To do so, head to /free-credit-score, click on “Get Started Now” and follow the simple steps to set up your account. Hope this helps!
read full answer by WalletHub, Financial CompanyCan I trust Credit Karma?
Much like WalletHub, Credit Karma is a website that offers free credit scores. As such, questions of its trustworthiness are bound to arise. Most of us don’t have a lot of experience with credit scores, after all, and many folks’ first impressions are probably still tainted by flashbacks to the days when catchy jingles promising free credit scores led only to free trials for pricey subscription services that were difficult to cancel. And while a...
read full answer by WalletHub, Financial CompanyDid we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertisers compensate WalletHub when you click on a link, or your application is approved, or your account is opened. Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.