If you are applying for a loan then you need to establish that you have a good credit standing. You can do this by requesting a credit report from credit reporting services. A credit report provides a history of your borrowing, as well as information on credit problems such as late payments. These companies get their data from a credit bureau which collates information from credit card issuers, banks and stores. The credit report is also used to compute a person’s credit score, a number which is supposed to reflect his or her creditworthiness.

The most prominent credit reporting services companies are Transunion, Equifax and Experian. All three offer credit reports either for free or for a fee. You can also qualify for a free credit report if you believe you are a victim of fraud, are currently unemployed or on welfare, or have been refused credit because of something in your credit history. A free report is also available from CreditReport.com, this will show all your credit score. You can expect to get a paper copy of your report within 15 working days.

To get a complete picture of your credit situation, it is imperative that you get a credit report from all three services since they usually have different information on them. Comparing the three will also allow you to easily detect errors in your credit history that you need to report. If you see an error, dispute it in writing with the creditor that reported negatively on your report. Also send a copy of the dispute to the credit bureau and the service that provided your credit report.