Credit reports is a report that contains information about your bill payment history, loans, current debt, and other financial information. It consolidates and shows where you work and live and whether you\'ve been sued, arrested, or filed for bankruptcy. 

Credit reports assist lenders to decide whether or not to extend you credit or approve a loan, and determine what interest rate they will charge you. Prospective employers, insurers, and rental property owners may also look at your credit report.

It\'s important to maintain your credit report regularly to ensure that your personal information and financial accounts are being accurately reported and that no fraudulent accounts have been opened in your name. If you find errors on your credit report, take steps to have them corrected.

You are entitled to a free credit report from each of the three major credit reporting agencies (Equifax, Experian, and TransUnion) once a year. You can request all three reports at once, or space them out throughout the year. Learn about other situations in which you can request a free credit report.