Credit Reports 101

Your credit report contains detailed information on your credit history, including identifying information, credit accounts and loans, bankruptcies and late payments, and recent inquiries. Prospective lenders (any institution that lends you money in the form of loans and financing or issues you credit) can obtain it to help determine your credit-worthiness. Your credit report is actually one of the main factors used in determining your credit score. Because of this it is very important that you make sure your report is accurate before submitting credit applications.

You have the right to get a free copy of your credit report, once every 12 months, from each of the nationwide consumer credit reporting companies - Equifax, Experian and TransUnion. For instant access or more information on obtaining your free credit report, visit www.annualcreditreport.com or call 1-877-322-8228.