Credit report
Also known as: Consumer report · Credit file · Free credit report · AnnualCreditReport.com
The record a consumer reporting agency keeps of a person's credit accounts, payment history, inquiries and certain public records, governed by the Fair Credit Reporting Act.
Legal basis
15 U.S.C. §1681j (free annual disclosures)
In the US, credit reports come mainly from the three nationwide consumer reporting agencies. The Fair Credit Reporting Act controls who may obtain them and why, how long negative items may stay — generally seven years, ten for bankruptcies — and how errors get fixed: the agency must reinvestigate a dispute, as a rule within 30 days.
Consumers are entitled by law to a free report from each nationwide agency once every 12 months, requested through AnnualCreditReport.com; the FTC notes that free reports are now available there weekly. Checking all three matters, because lenders do not report to every bureau and the files differ.
For a lender, the report shows the past of a person's formal credit — nothing about those without one, and little about what changed since the last reported month. It is also a target: synthetic identities are built precisely to grow a clean file. Reading it alongside identity and behavioral signal is what fills both gaps.
Frequently asked questions
How do I get my free credit report?
At AnnualCreditReport.com, the centralized source set up under federal law. You are entitled to a free report from each of the three nationwide consumer reporting agencies, and the FTC says free reports are available there every week.
How long does negative information stay on a credit report?
Most negative information, such as late payments and collection accounts, can be reported for seven years. Bankruptcies can be reported for up to ten years from the order for relief.