What is a credit report, and what is it used for?
A credit report is a record of a consumer's credit history and current credit standing. Your credit report will indicate how you have handled past credit obligations, how much credit is currently available to you and your current outstanding debt. Lenders review your credit report to help decide if you are a good credit risk. Prospective employers, insurers and landlords may also review your report to make decisions about you. Your credit report is also used to calculate your credit score.