Credit Report

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Credit Report: Definition, Contents, and How to Get It

A credit report is a detailed record of your credit history compiled by a credit bureau. Lenders, insurers, landlords, employers (with permission), and government agencies may use it to evaluate your creditworthiness. Regularly checking your credit reports helps you spot errors, detect identity theft, and understand how lenders view you.

Key takeaways

  • A credit report summarizes your credit history, including accounts, public records, and recent inquiries.
  • The three major U.S. credit bureaus are Equifax, Experian, and TransUnion; each may have slightly different information.
  • You can get a free copy of your credit report from each bureau at least once a year via AnnualCreditReport.com.
  • You have the right to dispute errors; bureaus must investigate reported inaccuracies.

How credit reports work

Credit bureaus collect information from creditors, public records, and other sources to create reports. Not every creditor reports to all three bureaus, so reports can differ. Credit reports focus on credit-related activity and generally do not include income, non-credit bills, investments, or other assets.

What information appears in a credit report?

Credit reports usually include four main sections:

  1. Personal information
  2. Name (and variations), current and past addresses, date of birth, phone numbers, and sometimes a spouse or co-applicant.
  3. Accounts
  4. Details of open and closed credit accounts (revolving and installment), account opening dates, balances, payment history, and status (e.g., current, late, charged off).
  5. Public records
  6. Financial public records such as bankruptcies, tax liens, and civil judgments (non-financial records like arrests are not included).
  7. Credit inquiries
  8. A list of parties that requested your report:
    • Hard inquiries: result from applications for credit and can slightly lower scores temporarily.
    • Soft inquiries: for preapproval or background purposes; they do not affect scores.

Credit reports vs. credit scores

Credit scores are three-digit numbers (commonly 300–850) derived from the information in your credit reports. Scores are calculated by models such as FICO and VantageScore and are not part of the report itself. Different scoring models and lenders may produce different scores.

Typical FICO score weightings:
* Payment history — 35%
* Amounts owed (including credit utilization) — 30%
* Length of credit history — 15%
* Credit mix — 10%
* New credit — 10%

Because scores and models vary, you may have multiple valid credit scores.

How long information stays on a report

  • Most negative items (late payments, collections) remain on your report for about seven years.
  • Chapter 7 bankruptcy can remain for up to 10 years.
  • Positive account information can remain as long as the account is active, and closed positive accounts may remain for several years.

Who can access your credit report

Under the Fair Credit Reporting Act (FCRA), parties must have a permissible purpose to request your report. Common permitted users include:
* Lenders and credit card issuers
* Insurance companies
* Landlords
* Employers (only with your written permission)
* Government agencies

How to get your credit report

  • You are entitled by law to a free copy of your credit report from each of the three major bureaus at least once per year via AnnualCreditReport.com.
  • You’re also entitled to a free report if you’ve been denied credit, insurance, or employment based on your report, or if you’re a victim of identity theft.

What to do if you find errors

  1. Review all three bureaus’ reports—errors may appear in only one.
  2. Gather documentation that supports your claim (statements, letters, identity proof).
  3. File a dispute with the credit bureau(s) reporting the error and, if appropriate, contact the creditor that furnished the incorrect information.
  4. The bureau must investigate and respond, typically within 30–45 days.
  5. Follow up and request a corrected copy after the dispute is resolved.

Practical tips

  • Check your reports before applying for major credit (mortgage, auto loan) so you can fix errors in advance.
  • Monitor for signs of mixed files (other people’s debts appearing under your name) and identity theft.
  • Keep credit utilization low and pay bills on time to maintain good scores.
  • Consider checking each bureau’s report at different times during the year to monitor activity more frequently.

Bottom line

Credit reports are foundational to lending and many other decisions about you. Regularly reviewing your reports, understanding what they include, and promptly disputing inaccuracies will help protect your financial reputation and improve your ability to obtain favorable credit terms.

Sources

Federal Trade Commission; Experian; myFICO; TransUnion; Consumer Financial Protection Bureau.