QUICK REFERENCE
Credit report terms, explained.
Short definitions and links to the deeper guides.
Terms
- Credit bureau
- A company that collects information used in consumer credit reports. The three nationwide bureaus are Equifax, Experian and TransUnion.
- Furnisher
- A business, such as a lender, that supplies account information to a reporting company.
- Tradeline
- An account entry on a credit report, such as a card or loan, with its status and history.
- Hard inquiry
- An access request commonly linked to applying for credit that may affect a score.
- Soft inquiry
- A review, such as checking your own file, that does not affect a score.
- Security freeze
- A restriction on access to a report by many potential new creditors; you manage it with each bureau.
- Fraud alert
- A notice telling businesses to take extra steps to verify identity before extending new credit.
- Credit utilization
- How much revolving credit you are using relative to available limits.
Common questions
Does checking my own report lower my score?
No. Reviewing your own report is not a new-credit application. CFPB source ↗
Do I need to pay for a report?
No. Start with AnnualCreditReport.com ↗ for the authorized free route. Paid services may offer additional features.
Are all my bureau reports identical?
Not necessarily. Reporting can differ across bureaus. Check each one for inaccuracies and missing context.
Can I dispute an error myself?
Yes. You can dispute inaccurate information without paying a third party. See our step-by-step guide.
Does a freeze stop every form of fraud?
No. It primarily restricts access to reports for many new-credit applications. Keep monitoring existing accounts. See our freeze guide.
Is my score printed on my free report?
A free report does not necessarily include a score. A score and a report are different products. Learn the difference.