credit report

A credit report is a detailed summary of your financial behavior related to borrowing and repaying debts. It includes information such as your loan and credit card accounts, payment history, outstanding balances, and whether you have any defaults or delinquencies. Issued by credit bureaus, it helps lenders assess your creditworthiness when you apply for loans or credit cards. Maintaining a good credit report is essential for accessing favorable interest rates and borrowing terms, as it reflects your reliability in handling credit over time. Regularly reviewing your report ensures accuracy and helps you manage your financial health.