Your credit report is a crucial document that reflects your credit activity and payment history, impacting your ability to borrow money and the terms you receive. Major credit bureaus—Equifax, TransUnion, and Experian—compile these reports, which include details about loans, credit cards, and even utility payments. Various entities, including lenders, landlords, and employers, may access your credit report to evaluate your financial reliability. Given its importance, it’s essential to check your credit report at least once a year for accuracy. Under the Fair Credit Reporting Act, you are entitled to a free report from each of the major bureaus annually. You can easily obtain your report by visiting AnnualCreditReport.com. The report includes personal information, payment history, credit utilization, collections, and inquiries from creditors. If you face adverse actions like credit denial, you have the right to review the report used in that decision and dispute any inaccuracies.
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