Your credit report is important as it affects your financial opportunities. It is a representation of you as a potential borrower and is used to give you a credit score. The true answer to “what is a credit report?” is “very important”.
The type of information recorded in a credit report includes:
- Identifying information: your name, sex, all addresses, date of birth, driver’s license number
- Name of creditor
- Date of credit application
- Amount of loan sought
- Co-signers on the loan
- Negative items such defaults, judgements etc