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What is a Credit Report?
A credit report is a kind of financial biography about your credit.

Not only does it include your credit score (which is usually a FICO score), but it also gives details about your credit, including things that either do or do not directly influence your score.

People usually assume that the report lists information about credit card accounts, which is correct. However, it will also likely include information about bank accounts, loans (such as student loans, auto loans, etc.), and most anything else that required credit verification before goods or services were delivered (i.e., rental apartments and utilities such as telephone, electricity, gas, water, cable, etc.).

There are a number of companies that publish credit reports. The three that are considered to be the most commonly used are:

  • Equifax
  • Experian
  • Trans Union
Although information should ideally be similar on each report, discrepancies can and do occur. Therefore, before shopping for a mortgage, second mortgage, home equity loan, home equity line of credit, or refinancing, it's a good idea to contact these companies and verify all information.
 
 
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