What is a Credit Report
A person’s credit history follows them throughout their life. It tells the story of what they have achieved and where they might have stumbled along the way. To understand what a credit report is and what a credit report is not, it is necessary to understand why a credit history is necessary. A credit report is a way to gain the instant trust of a company or business from whom you would like credit to be extended to you. If you would like a loan from a bank, for instance, your credit report will tell whether or not you are trustworthy based on the number of times others have granted you credit and been paid back fully in a timely manner. In the United States of Amercia when you apply for credit a business will look at your report to determine if they wish to extend you credit, or if they feel you might not be able to pay them back based on your prior or current credit accounts.