A credit report is a comprehensive record of all of an individual’s dealings with credit and how they have interacted with credit providers. Consumers should be able to find out how much debt they’ve incurred, if they’ve repaid their debt on time, and the total amount of debt that they currently owe.
A credit report includes information about an individual’s:
- Credit score
- Credit card balances
- Mortgage loans
- Installment loans (consumer durables)
- Personal loans
- Lines of credit (credit cards)
- Payday loan activity.