Credit reports, credit scores and borrowing
How lenders judge you, what is in your credit reports, and how to borrow without it costing more than it should.
Every time you apply for a credit card, a loan, a mortgage or sometimes an apartment or a cell phone plan, the lender may check your credit history. That history is held by three nationwide credit bureaus: Equifax, Experian and TransUnion. Each keeps its own file on you, and the information in them is not always identical.
Your credit score is a number calculated from the information in your report. There are many scoring models, including several versions of FICO and VantageScore, so you will see different numbers in different places. Lenders choose which model they use and combine your score with their own rules about income and existing debt.
The habits that matter most are well understood: pay on time, keep balances well below your limits, avoid opening lots of accounts at once, and keep older accounts open where it makes sense. You can get a free copy of your report from each bureau every week at AnnualCreditReport.com, and checking your own report does not hurt your score. If you find a mistake, you have the right to dispute it.
Credit topics
How credit scores are calculated
The factors that go into a score and which ones matter most.
Reading your credit report
What each section means and how to spot errors.
Disputing a mistake on your report
How to dispute an error with the bureau and with the company that reported it.
Building or rebuilding credit
Practical steps if you are new to credit or recovering from problems.
Credit cards: how they really work
APR, grace periods, minimum payments and how interest is charged.
Credit freezes and fraud alerts
How to protect yourself from identity theft, and why a freeze is free.
All credit guides
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Get your free weekly credit reports from Equifax, Experian and TransUnion, check them for mistakes and dispute errors step by step, with the CFPB's guidance.
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How do I get my free credit reports?
Go to AnnualCreditReport.com, the official site. The three nationwide bureaus, Equifax, Experian and TransUnion, each offer free reports every week. You do not need to pay anything or give a card number to get them.
Does checking my own credit hurt my score?
No. Looking at your own reports or scores is a soft inquiry and does not affect your credit. A hard inquiry, which can affect your score slightly, happens when you apply for credit.
How long do negative marks stay on my report?
Under the Fair Credit Reporting Act, most negative information can be reported for up to seven years, and some bankruptcies for up to ten. The effect on your score generally lessens over time.
Official sources and free help
- AnnualCreditReport.com(opens in a new tab)
The official source for free credit reports from Equifax, Experian and TransUnion.
- Federal Trade Commission: credit and loans(opens in a new tab)
Advice on credit reports, disputes, identity theft and credit repair scams.
- Consumer Financial Protection Bureau(opens in a new tab)
Explainers on credit reports, scores and cards, and a way to file a complaint.
This page provides general information only. It is not personalized financial, legal or tax advice, and rules and figures can change and can differ from state to state. Your situation is unique, so please check official sources such as the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC), and speak to a qualified credit counseling professional before making important decisions about your money.