What IS a Credit Report?

Your credit report is a detailed accounting of all of your credit history. Generally it’s going to list the companies to which you owe money, The companies you do business with, the companies in which you have open credit, like credit card, and other information that creditors or lenders report to the credit reporting agencies; which BTW are also called credit bureaus by some.

Creditors report the information from your account to the bureaus. They may report to one bureau or they may report all three, it is purely up to them. Typically they report the maximum credit limit extended to you the monthly payments and whether there on time or not, the date that the loan was originated, the last date of any activity on the account, and then whether the creditor considers you to be current or not on the account.

Most of you know that you’re allowed to have one free copy of each of the three credit bureaus in any 12 month period. As of 2020 that’s going to change. I recommend getting them from AnnualCreditReport.com. That’s the only site I truly recommend as a teacher. If you cannot get the your reports at AnnualCreditReport.com, the only other place I would get them would be from the credit bureaus themselves, Equifax, Trans Union, and Experian.

I mentioned a change coming in 2020.  As of 2020 will be able to get six more free credit each year for the next seven years from the Equifax website. Those free reports are above and beyond the free ones that you get each year from annual credit report.com. That means you’ll be able to pull a credit report from one bureau or another just about once a month.


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