Process Terms
Credit Report: Definition
A detailed report of a consumer's credit history.
Definition
A Credit Report is a detailed record of a consumer's credit history compiled by a credit bureau. It includes information from data furnishers about accounts, payment history, and public records. Credit reports are used by lenders, employers, and others to evaluate creditworthiness.
Usage Notes
- Consumers entitled to free annual report
- Contains tradelines from multiple furnishers
- Used to calculate credit scores
Related Terms
More Process Terms
Dispute
A consumer's challenge to the accuracy of reported information.
ACDV (Automated Consumer Dispute Verification)
The system used by bureaus to process consumer disputes.
e-OSCAR
The industry system for processing credit disputes electronically.
File Submission
The process of sending Metro 2 data to credit bureaus.
Credit Score
A numerical representation of creditworthiness.
Tradeline
A record of a single credit account on a credit report.
Soft Inquiry
A credit check that doesn't affect credit scores.
Hard Inquiry
A credit check that may affect credit scores.
Inspect a real Metro 2 file
See how this concept appears in an actual file with the free in-browser Metro 2 File Viewer — no signup, nothing uploaded.
Simplify Credit Reporting
Metro2 software handles all the complexity of Metro 2 format compliance, so you can focus on your business.