A credit report holds important information about your financial history. Everything from credit card accounts, loans, and details about your timeliness in payments are all filed away in the credit report. Accuracy is important to ensuring that the data collectively and fairly grades you with a credit score. FICO credit scores typically range from 300 to 850.
Organizations use credit scores to measure the credit worthiness of a person. Banks and credit card companies use the data to evaluate the risk of lending money. Other organizations such as phone companies, insurance companies, and landlords may also use the report to evaluate financial risk.
Equifax, Experian, and TransUnion run a web site, AnnualCreditReport.com, that enables users to get free credit reports once every 12 months from each of the three credit bureaus. The credit reports may not have a credit score, but users have the opportunity to study the report and check for errors.