Understanding Your Equifax Credit Report

Overview

• A credit report is a summary of your financial history.
• Contains:
  • Credit cards in your name
  • Mortgages
  • Student loans
  • Vehicle loans
  • Public record information
  • Unpaid debts

Personal Information Included

• Name
• Address

Purpose of Credit Report

• Helps banks and companies assess your credit history
• Requires your permission for access
• Used by lenders to determine creditworthiness and interest rates

Types of Information

• Negative Information: Accounts not paid on time
• Positive Information: Successfully paid accounts

Consumer Credit Reporting Agencies

• Three nationwide agencies maintain your credit history
• Credit activity is reported by lenders and creditors

Accessing Your Credit Report

• Free copy available once a year from each agency at annualcreditreport.com
• Free report does not include credit score
• Reviewing credit report is a good financial habit

Conclusion

• Aim: To provide information for smart financial choices.