A credit report is a record of how you have paid your debts. It tells lenders:
• Who you are
• How much debt you have
• Whether you have made payments on time
• Whether there is negative information about you in public records

• There are three major credit reporting agencies: Equifax, Experian, and TransUnion.
  These agencies receive information from a variety of creditors, usually monthly, about whether you are making loan and credit card payments on time. The agencies also collect information about bankruptcy filings, court-ordered judgments, tax liens, and other public record information from courthouse records.

The reports from each of the credit agencies look different, but generally contain the same basic information.

1. Your identifying information, including:
  o Name
  o Social Security Number (SSN)
  o Current and previous addresses
  o Telephone number
  o Birth date
  o Current and previous employers
  o Spouse’s name, if married
2. A report containing your credit history
3. A list of inquiries
4. A report containing information about you in public records (e.g., collection accounts, bankruptcies, foreclosures, tax liens, civil judgments, delinquent student loan payments, and late child support payments)

Your credit score is based on the information in your credit report.
• Your credit score—sometimes referred to as a credit rating or Fair Isaac Corporation (FICO) Score—is a number that helps lenders determine how much of a credit risk you may be.
• It has become increasingly common for lenders to make decisions largely based on credit scores.

It is important to learn how the score is calculated so you can improve your score if necessary to obtain credit.
• Your payment history is the largest percentage of your credit score. That is why it is important to pay your bills on time.
If you do not have a history of late payments, your score may be lowered if your credit card balance is close to the limit or if you have just begun to use credit.

Creditors may use one or more credit scores. They may generate the scores themselves, or they may use a score calculated by another firm. Two of the scores used by creditors and lenders are FICO Score and VantageScore.

To order your free annual report from one or all three of the credit reporting agencies, do one of the following:

• Submit a request online at www.annualcreditreport.com
• Call toll-free: 1-877-322-8228
• Complete the Annual Credit Report Request Form and mail it to:

Annual Credit Report Request Service
P. O. Box 105281
Atlanta, GA 30348-5281

You can print a copy of the Annual Credit Report Request Form from www.annualcreditreport.com or www.ftc.gov/credit. You will need to provide:

• Your name, address, SSN, and date of birth
• Your previous address if you have moved in the last 2 years
• Identifying information specific to you for security purposes (e.g., amount of your monthly mortgage payment)
• Different information for each requesting company, because the information each has in your file may come from different sources