What Exactly Is A Credit Score? Credit Report?

Credit Report is a detailed statement of your credit history. It provides lenders the information about how you manage your finances from paying your bills, debts, bill payment history such mortgage payments, settling credit card balances and more.

A particular lender or creditor depends on a larger part on what is reflected on your credit report whether these are accurate or not. Therefore, it is very important for everyone to check on your credit report at least once a year to see if all of the information recorded in your credit history are true and work on repairing reports in your credit history about an error which is needed in order to repair your credit history.

AOL Money has an interesting information about requesting free credit report stipulated under the Fair Credit Reporting Act(available in pdf file) or with a fee with one of the three major credit bureaus in the US: Equifax, Experian and Trans Union.