how credit reports work
in the united states there are three major credit reporting bureaus equifax experian and transunion each of these companies collects information about your credit history to create a unique credit report on you although most of their information is similar there are often small differences among the three reports depending on which of your creditors such as mortgage lenders and credit card companies provide information to that particular bureau some creditors may supply information to one or two bureaus but not all three and some may not supply any information on you at all credit reports focus primarily on your use of credit they do not include information on other types of bills nor do they show your income investments or other assets derek notman cfp chfc cluintrepid wealth partners llc madison wimake sure to review your credit report before you need it a client of mine was applying for a home mortgage and when the bank pulled their credit report there was over 20 000 of credit card debt on the report but the client didn t have any credit cards 