Credit History

The term credit history refers to the accumulated credit related information that appears on a consumer credit report. This information is gathered and provided by credit reporting agencies. Banks and other lending institutions, as well as credit card companies and any other entity that has an interest in establishing the credit status and habits or the financial reliability or character of a given individual request this information in making credit decisions and, increasingly, other decisions concerning the consumer.

Employers, landlords, insurance companies and even utility companies make use of this information in deciding whether or not to hire or provide services to a consumer. Therefore, it is very important that consumers make use of the wide variety of easily accessed opportunities to review their credit status, making sure that there are no errors. It is the responsibility of each to take the necessary steps to protect themselves.