What Is a Credit Report?

A credit report is much like a financial CV. It’s a detailed history of your credit card and how you’ve used it. Credit reports contain information that helps lenders confirm your identity, which can help to decide whether you are a good candidate for borrowing money.

Credit reports include details of credit accounts that are held by the account owner. They also state whether or not you’ve kept up with any repayments, information on current and previous addresses and details of any personal financial connections.

Credit reports are compiled by credit reference agencies, who produce three primary versions of a credit report. There are three major credit reference agencies: Callcredit, Equifax, and Experian. Because there are three main agencies, lenders don’t always share the same information with all of them. Because information held on you can differ between the credit reference agencies, it’s recommended to check on all three when necessary.