Credit & Credit Scores
What's in your credit report, how to check it, and what affects your scores.
Credit report vs. credit score
Your credit report is a record of your credit accounts and how you've paid them: credit cards, loans, balances, payment history, and certain public records. Three nationwide credit bureaus keep reports: Equifax, Experian, and TransUnion.
A credit score is a number calculated from the information in a credit report. There isn't just one. Different scoring models and different bureaus' data can produce different scores, so the number a lender sees may not match the one you see elsewhere.
The reports from each bureau can also differ, because each one may get information from different sources.
How to check your credit reports
You can check your credit report from each of the three bureaus for free, once a week, at AnnualCreditReport.com. According to the Federal Trade Commission, it's the only website authorized to fill orders for the free credit reports you're entitled to by law. Watch for look-alike sites with misspelled addresses.
Some people also use a credit-monitoring service, which can show scores and send alerts when something changes on your report. These are usually paid subscriptions. Compare what's included, the price, and how to cancel before you sign up.
What generally affects your credit scores
Scoring models differ, but most look at factors like these:
- Payment history: whether you pay on time
- Amounts owed: how much of your available credit you're using
- Length of credit history: how long your accounts have been open
- New credit: recent applications and newly opened accounts
- Credit mix: the types of credit you have
Paying every bill on time and keeping card balances low relative to your limits are the habits most people can act on right away.
If you find an error
Under the Fair Credit Reporting Act, credit bureaus must let you dispute mistakes. Contact both the credit bureau and the business that supplied the wrong information, explain what's wrong, and include copies of documents that support your dispute. Keep records of everything you send.
How credit connects to your other numbers
When you apply for a loan, lenders usually look at your credit together with your debt-to-income ratio. Paying down balances can help both. The Debt Payoff Calculator shows how long that takes and how much interest an extra payment saves.