Credit reports are detailed records of your credit history, including your borrowing and repayment activities. They play a crucial role in determining your credit score and influencing lenders' decisions.
What is Included in a Credit Report?
A credit report typically includes personal information, credit accounts, payment history, and inquiries. Understanding what is in your report can help you manage your credit more effectively.
"Your credit report is a snapshot of your financial behavior."
How Credit Reports Affect You
Lenders use credit reports to evaluate your creditworthiness. A good credit report can lead to better loan terms, while a poor report can result in higher interest rates or loan denials.
