What is in My Credit Report?

Your credit report contains your history of transaction with credit and contains your credit score, which is used by lenders to determine your creditworthiness and affects the kind of interest rates you can obtain from various creditors, for things like auto loans, mortgages, credit cards, and personal loans. Your credit report is likely to contain another thing: ERRORS. Errors almost always produce a negative credit effect on your credit score and they are quite common. Many people are surprised when they see just how many negative marks there are -- mistakes by a creditor that cost you money in the form of higher interest rates on credit.

We recommend that you check your credit report often. Services like TrueCredit can provide you with your credit report from all three credit bureaus. We aren't saying that you need to watch it like a hawk, but checking it once in a while with help you catch errors and even credit card fraud or identity theft.