Credit reports list your bill payment history, loans, current debt, and other financial
information. They show where you work and live and whether you've been sued, arrested, or filed for bankruptcy. Credit reports help lenders decide if they'll give you credit or approve a loan. The reports also help determine what interest rate they will charge you. Employers,
insurers, and rental property owners may also look at your credit report. You won't know which credit report a creditor or employer will use to check your credit.
Credit reporting agencies (CRAs) collect and maintain information for your credit reports. Each CRA manages its own records and might not have information about all your accounts. Even though there are differences between their reports, no agency is more important than the others. And the information each agency has must be accurate.
It's important to check your credit reports regularly to make sure that your personal
and financial information is accurate. It also helps to make sure nobody's
opened fraudulent accounts in your name. If you find errors on your credit report, take
steps to have them corrected.