Other names for credit reports are credit records, credit histories, and
credit files. They are referring to the same documents. They are records
of borrowers' bill-paying habits. They are collected, stored, and sold by
credit reporting companies.
Your credit history provides important data
that impacts your borrowing ability. Perhaps even more importantly, it
determines how much you will have to pay a lender to borrow its money.
Obtain a
copy of your credit file to ensure the records are exact, comprehensive, and
timely before you apply for a loan for a major acquisition like a house or car,
buy insurance, or apply for a job. Many employers are currently asking for
credit reports for new hires as a reference of character. Knowing your
credit score also helps protect you against identity theft.
Best Credit Card Comparison