Credit Report Definition: A credit report provides information that gives a potential lender history on loan payments, missed installments, and other details to assess your creditworthiness. Credit reports are statements that credit bureaus issue, and it’s common for most people to have more than one report or assessment.
While creditors are not required to report every incident to the bureau, it’s done often enough to track individual and company payment trends and determine creditworthiness for potential lenders in the future. Lenders utilize these reports to decide if a consumer is deemed suitable to borrow funds, including the amount they can borrow and the interest rate.
These reports include payment history on utilities, internet, cable, and other services. Credit reports include a social security number (or social insurance number, in Canada), birth date, addresses (current and previous), phone number, and previous names.

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