What is a credit report?
A credit report is a document that contains information about your credit history. It is maintained by the three major credit bureaus (Equifax, Experian, and TransUnion) and is used by lenders to determine your creditworthiness. This report includes information about your past and present credit accounts, such as credit cards, mortgages, auto loans, and other types of loans. It also lists your payment history, including whether or not you make your payments on time and for how much each month. The credit report is also used to determine your credit score, which is used to determine if you are eligible for certain types of loans or lines of credit. In Maryland, credit reports can be requested for free once per year. Additionally, the Fair Credit Reporting Act ensures that any inaccurate information can be disputed and corrected.
Related FAQs
What are the late payment fees for credit cards?How does a balance transfer work?
What are the consequences of not paying my credit card bill on time?
What is a Fair Credit Billing Act?
How do I dispute unauthorized charges on my credit card?
What is theCard Act of 2009?
Are there any rules or regulations that apply to credit card companies?
What is the most important information to know about a credit card?
What can I do to improve my credit score?
What is a balance transfer APR?
Related Blog Posts
The Basics of Credit Card Law: What You Need to Know - July 31, 2023The Pros and Cons of Credit Card Use - August 7, 2023
What Is the CARD Act and How Does It Impact You? - August 14, 2023
5 Tips for Understanding Credit Card Law - August 21, 2023
Understanding the FDCPA and Its Impact on Credit Card Law - August 28, 2023