A credit report is a summary of your financial history. Potential lenders will use your credit report to help them evaluate whether you are a good credit risk or a bad credit .
The three major credit-reporting agencies are Experian, Equifax, and Transunion. These agencies collect certain types of information about you, primarily your use of credit and information in the public record, and sell that information to qualified recipients.
As the rule of Fair and Accurate Credit Transaction Act (FACT Act), you are entitled to a free copy of your credit report each year from each of the credit reporting agencies.
The person has a right to see the credit report at any time if they have been turned down for a loan, an apartment, or a job because of poor credit. They may also question any information the credit reporting agency has about you and ask that errors be corrected.
If the information isn’t changed following your request, the person has the right to attach a comment or explanation, which must be sent out with future reports.