Overview of Credit Basics

Credit is a key driver of the U.S. economy. Most American consumers have at least one credit card and some other type of credit-based financing. Before lenders decide to lend you money, they evaluate the risk associated with lending to you. A key way lenders gain insight into the level of risk in lending to you is to access your credit record from one or more of the three major credit reporting agencies – Experian, Equifax and TransUnion – oftentimes in the form of a credit report but also commonly as a credit score. Your credit report contains a wealth of information about your financial history and how you have paid your bills in the past.

Explore these pages to learn the basics about your credit report, where to get a copy of your credit report and FICO^® Score and common credit terminology that you should know.