A consumer credit report is a limited record of your personal information as it relates to your consumer credit activities. It is primarily used by lenders and creditors to determine your credit reputation or credit worthiness when deciding to extend you credit or grant you a loan. Although numerous smaller credit reporting agencies (CRAs) exist, there are only three major credit reporting agencies (CRAs) that are widely accepted; TransUnion, Equifax, and Experian. The consumer credit report is separated into a few major categories with the most common being Credit History, Public Records, Collection Accounts, Inquiries, and Personal Information.
The Credit History section displays some of the most common information that you would expect to see on a consumer credit report such as real estate mortgages, credit cards, lines of credit, personal loans, and auto loans. While displaying some of the most common information that you might expect to see such as the account name and account number of each account, this section of the consumer credit report also displays the status of each account and whether it is current or past due in payment. This section of the consumer credit report goes into further detail by displaying the balance, minimum payment due, and payment history of each account.
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