What is a Credit Reporting Agency?

A credit reporting agency (CRA) is a company that collects information from various sources and provides consumer credit information on individual consumers for a variety of uses. This helps lenders assess credit worthiness, the ability to pay back a loan, and can affect the interest rate and other terms of a loan. Credit reporting agencies [...]

What is a credit score?

A credit score is a number based on a statistical analysis of a person’s credit file. This score represents the creditworthiness of that person, which is the perceived likelihood that the person will pay debts in a timely manner. A credit score is primarily based on credit report information. Lenders use this score to evaluate [...]

How to get a free copy of your credit report.

The first thing you will need to do is obtain a copy of your personal credit report from all three of the major credit report agencies. AnnualCreditReport.com is a centralized service for consumers to request free annual credit reports. It was created by the three nationwide consumer credit reporting companies – Equifax, Experian, and TransUnion. [...]