1. What is a consumer credit report?
A consumer credit report is a factual record of an individual’s credit payment history as reported by his or her creditors. It is provided for purposes permitted by law, primarily to credit grantors. Its main use is to help a lender quickly and objectively decide whether to grant you credit.
If you are one of the more than 200 million people in the United States with a charge account, car loan, student loan or home mortgage, then information about your credit experience probably is stored in Experian’s consumer credit database.
Most of the information in your consumer credit report comes directly from the companies with which you do business.