A credit report is a document that states your credit payment history. Every citizen of the US is granted to view a free score annually. Once in every 12 months he can view all the statements that show his credit worthiness. This document enables him to show his credit standing and it thereby helps in determining the financial status of the person. It is important for one to keep a track on it and keep a check on it every now and then. This helps him in keeping a close tab. If in case of any differences, he must report to the US bureau which creates and keeps such records.
A free credit report and score is entitled to all. It is essential for one to know what his credit history is, are all his transaction properly recorded. By holding a good credit score, you are benefited in a way of being able to attract creditors and avail loans at low-interest rates. At the same time, if you are a bad score holder then it may lead to rejection in such loans or provision of them at high interest rates. Without such reports it becomes hard for a lender to judge a persons financial sturdiness.
Free annual credit reports are provided to you by three of the head bureaucratic departments of the US namely; Experience, Equifax and Trans union. These are the head companies who collect all the data in relation to your score and report and then compile it to create one major data. It would help a bad creditor on improving his situation. He can understand where all he has gone wrong and can thereby try changing his status to a good creditor.
You can avail this Free Credit Report Online as well. Since so many applicants exist, it becomes hard for the head offices to issue copies of a persons report personally. So as to ease this, they provide you with the online facility of gaining knowledge about your free credit score and report.