Your credit reports are statements of your credit history. There are three major bureaus that compile credit reports: Equifax®, Experian® and TransUnion®.
Each credit bureau compiles its own credit reports, so your credit reports may be slightly different.
Keep in mind, your score can differ depending on which credit reporting agency provided the information, the scoring model, the type of loan product, and even the day when it was calculated.
Why Is Credit Important?
It gives lenders an idea of how financially responsible you are.
So the better your credit, the better your chances of qualifying for credit cards, loans, mortgages and other credit products.