A credit report is a detailed record of your financial history, including loans, credit cards, and payment behavior. Lenders, landlords, and even employers use it to assess your reliability. A good credit report helps you secure better interest rates, higher loan approvals, and even job opportunities.

Your report includes personal details, account history, credit inquiries, and public records like bankruptcies. Checking it regularly helps spot errors that could harm your score. Late payments, high credit utilization, and too many hard inquiries negatively impact your report, while timely payments and responsible credit usage improve it.

Review your credit report at least once a year through free services like AnnualCreditReport.com and dispute any inaccuracies. Understanding and managing your credit report wisely can open doors to better financial opportunities.