A consumer credit report is a document or statement containing a factual record of an individual's credit payment history. Credit grantors are permitted by law to review credit reports to objectively determine whether to grant a consumer credit. Credit card providers usually report consumer credit payment information to the credit bureaus. Most of the information in a consumer credit report comes directly from the companies consumers do business with.

Credit report is a report about anyone's payment history. Credit report is used by lenders so that they can have a background history of how good of a payer you are and if you will be able to pay them once they grant you a loan.

Most of the information gathered in a credit report is taken from the consumer credit database. This includes any type of charge account, student loan, car loan, home mortgage, and more about you. The information used by the consumer credit database is taken from the companies that you loaned money from and some are from public records.

A credit report contains 4 types of information. Personal information credit report, Credit information credit report, public information credit report and inquiries credit report. The personal information on your credit report includes your name, spouse's name, addresses, SS number, employers and a lot more. This was taken when you filed for credit. Credit information contains all the credit you took from loans to balances, payments, payment pattern. Public information has bankruptcy records, tax records and monetary judgments. Inquiries include the names and reason of companies who checked your credit report for the last two years. Your credit report is probably one of the most important files that you have to consider during your lifetime.

Whenever you apply for credit, whether you are approved or not, it will show up on your credit report. The company you applied to will also be listed as well as the amount of the loan.

Credit card holder report gives the details of your monthly payments for each credit card, loan or revolving charge account you have. It also tells whether or not you have any missed or late payments and the number of days your payment was late. The details of your credit history stay on the report for 7 years and up to 10 years if you have declared bankruptcy. Before applying for a loan, you should always check your credit report yourself. This will give you a good idea of whether or not your application will be approved. If you have bad credit, it will show you where you went wrong.

If you or credit card holder know about that where you made a mistake in getting credit or repayments, this credit report can help you work towards repairing your credit rating, this allowing you to get the money you need for major purchases when you need it.

Reasons to Check Your Credit Report Regularly :-

Every credit card holder have many reason to check credit report on daily or time to time basis or when ever he or she Convince but main reason is, every credit card holder wants security from frauds and wants safety. Here are the top reasons why you should make a practice of regularly reviewing your credit report:

• Inaccuracies & Mixed Credit Files
• Tracking Payments
• Identity Theft
• Inquiries
• Credit Fraud--Unauthorized Charges