A credit report contains information about your credit such as loan paying history and the status of your credit accounts. Lenders use these reports to make lending decisions.

This information includes whether you pay your bills on time, how much credit balance you have on credit cards, how much you have used, and whether you have had bills in collection.

Credit reports also can contain rental repayment information if you are a property renter. It also can contain public records such as liens, judgments, and bankruptcies that provide insight into your financial status and obligations.

Lenders use these reports to help them decide if they will loan you money, what interest rates they will offer you, or to determine whether you continue to meet the terms of the account. Other kinds of companies can purchase reports to help inform them while making  a wide range of business decisions such as providing or pricing insurance; renting you a residential property; providing you with cable TV, internet, utility, or telecommunication services; and (if you agree to let them look at your consumer report) making employment decisions about you.

Credit reporting companies (also known as credit bureaus or consumer reporting agencies) compile these reports.