What is a Credit Report?

If you have applied for credit, be assured there is a credit report on you including where you live, date of birth, place of employment, income, and whether you pay your bills on time or not. It is very detailed. Your credit report is used to evaluate your debt-to-income ratio and you as a credit risk. There are three separate credit bureaus (Credit Reporting Agency) that create the reports: Experian, Equifax, and TransUnion. The credit bureaus are in business to earn a profit by selling your …