A credit report is the resultant product, given to the lender, after an individual’s credit history has been thoroughly checked.

Typically a credit report is prepared by the credit bureau and then used by the financial institution in deciding whether the applicant is worth the “risk” of lending the money to.

The contents of such a report usually includes pertinent information such as : the number of creditors you have or have had in the past, your repayment schedules, whether you were able to meet these on time, any interest incurred, any difficulties reported, and your current financial status.