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

    CRA (Consumer Reporting Agency)Credit ScoreTradeline

    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.

    Simplify Credit Reporting

    Metro2 software handles all the complexity of Metro 2 format compliance, so you can focus on your business.

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