Credit report
A credit report is a detailed record of your borrowing history kept by the credit bureaus — your accounts, balances, payment history, credit inquiries, and any collections or charge-offs. Credit scores like FICO and VantageScore are calculated from the data in this report.
Why it matters
It is the raw data behind every score, and negative items follow you for years: a 30-day late payment and a charge-off (when a creditor writes off a debt after about 180 days) generally stay on the report for about seven years.
Example
If you open a secured card with a $200 deposit, the issuer reports each month's balance and payment to your credit report — that on-time history is what later models build your score from.
Learn more
Educational only — not financial advice. No guarantees.