A credit report
summarizes historical financial information collected to determine an individual's or an entity's creditworthiness, that is, the means and willingness to repay an indebtedness. Financial institutions utilize credit reports to gauge credit
reputation, and thus determine whether to extend credit
, and on what terms.
In the U.S. the three major credit reporting agencies are: Equifax, Experian, and Trans Union.
See also: credit repair