CREDIT REPORT | SCORES
CREDIT REPORTS AND SCORES
Your credit reports and scores have an impact on your finances. Our resources can help you better understand them, learn how to correct errors, and improve your credit record over time.
KNOW THE DATA ON YOUR CREDIT REPORT
You know your credit report is important, but the information that credit reporting companies use to create that report is just as important—and you have a right to see that data. Use our list of credit reporting companies to request and review each of your reports.
KNOW YOUR DATA
Consumer reporting companies collect information and provide reports to other companies about you. These companies use these reports to inform decisions about providing you with credit, employment, residential rental housing, insurance, and in other decision-making situations.
KNOW WHEN TO CHECK A REPORT
With the exception of employment screening, users of your reporting data generally don’t warn you in advance when they’re about to take an adverse action against you based in whole or in part on your consumer report. That's why the accuracy and completeness of your consumer reporting data is extremely important.
Check your reports regularly
It’s important to review your credit reports from the three nationwide consumer reporting companies—Equifax, TransUnion, and Experian—every twelve months to ensure they are accurate and complete. This is especially important if you intend to purchase a home or car with credit, or otherwise intend to apply for credit in the future.
Check your reports before making financial decisions
If you are applying for a job, an insurance policy, or a lease, you should fact-check your background screening reports to ensure there are no errors.
Check your reports if you think you may be a victim of identity theft
Data breaches are an unfortunate reality. It’s important to be aware of your options to take greater control of your consumer reporting data.
Fact-check your reports and consider blocking third-party access to your consumer reporting data through a security “freeze.”
RESOURCES TO TAKE ACTION
HOW TO REQUEST A REPORT
Under the federal Fair Credit Reporting Act (FCRA) , all consumer reporting companies are required to provide you a copy of the information in your report if you request it.
You are also entitled to a free credit report every 12 months from each of the three nationwide consumer reporting companies—Equifax, TransUnion, and Experian. You can request a copy through AnnualCreditReport.com .
WHO CAN SEE YOUR CONSUMER REPORT
Consumer reporting companies must follow legal restrictions, but can generally provide your consumer reports and scores to an array of businesses, including:
- Debt buyers and collectors
- Lenders, including those that offer credit cards, home loans, payday loans, auto loans or leasing, and student loans
- Insurance companies
- Employers, volunteer organizations, and government agencies to determine eligibility for government assistance
- Landlords and residential real estate management companies
- Banks, credit unions, payment processors, and retail stores that accept personal checks
- Companies that market and sell products and services specifically to lower-income consumers and subprime credit applicants, such as short-term lending and rent-to-own businesses
- Communications and utility companies
- Retail stores for product return fraud and abuse screening; as well as retail stores that offer financing, such as appliance and rent-to-own businesses
- Gaming casinos that extend credit to consumers and/or accept personal checks
