In the United States, there are three major credit-reporting agencies: Trans Union, Equifax and Experian; these three agencies maintain databases containing the credit records of more than 170 Million Americans. Credit agencies and bureaus do not make decisions for approving or rejecting consumer's applications for credit, they only report the factual information provided by the credit grantors on how customers have paid their bills.

There are thousands of local and regional credit bureaus in the nation who contract with the three major companies for consumers credit history information and public record information which are obtained from court houses all around the country.

The purpose for a credit report is to provide credit grantors throughout the nation credit history for a consumer who may wish to obtain some form of financing. Parties providing the financing may have a different requirement for extending credit.

What is a credit report?

Credit reports may contain the following information about a consumer:

• Name, Date of Birth, Social Security Number, Current and Previous Addresses, Telephone Number, and Current and Previous Employer Information.
• History of consumer paying bills with credit grantors (such as credit cards, store cards, mortgages etc.).
• Information obtained from public records that may affect your credit worthiness (such as liens, judgements, bankruptcies, etc.).
• List of companies and credit grantors who have received the consumers credit report.

Credit reports do not contain:

• Personal information such as the consumers race, religion, origin or gender.
• Bank account information
• Any purchases with cash or check
• Information on the consumers' medical history
• Business accounts unless the consumer is personally liable for the debt

How to build good credit?
In the case you do not have a credit history or do not have a good credit history, it could be difficult to obtain mortgage loans or credit. To establish good credit history it would be advisable to start with small credit lines, such as:

• Credit with a local retailer such as a department store
• Have a friend or relative co-sign for you
• Apply for a small bank loan
• Make a large down payment

You may also use the assistance of National Foundation for Consumer Credit, Inc., who will help you in dealing with your credit problems and provide advice. To contact a Consumer Credit Counseling Service (CCCS) office nearest to you contact:

National Foundation for Consumer Credit, Inc.
8611 Second Avenue
Suite 100
Silver Spring, MD 20910
1-800-388-2227

How long do accounts remain on my credit report?
Accounts containing paid or adverse information remain on a credit report up to seven years from the last activity on the account. Some credit agencies may maintain consumer credit history up to 10 years. In the case of public records, such as Civil Judgments and Tax Liens they remain on the credit report for 7 years (Unsettled Tax Liens remain on file indefinitely). Chapter 13 bankruptcies, which have been dismissed or discharged, remain on file for seven years. All other bankruptcies remain on file for ten years.

How to correct errors on my credit report?
If you feel there is an error on your credit report, you should contact the credit agency that has reported that information, by filing a dispute and providing an explanatory statement. The disputed information is subsequently verified by the agency and in most cases, the investigation is completed within 30 days. The agency then would send an updated copy of your credit report, reflecting the results of the investigation.

You may find the below web sites to provide credit reports and useful information

Equifax
Equifax is one of the three primary sources of credit information. It serves financial, retail, credit card, telecommunications/utilities, transportation, information technology and healthcare industries, and government and also includes consumer and commercial credit information services. Equifax provides its customers with services and systems that help grant credit, offer credit and debit card services, issue and manage digital certificates, authenticate identity, enhance customer relationships, manage checks, prevent fraud, outsource receivables, predict consumer behavior, market products and manage risk.

Experian
Experian is one of the three primary sources of credit information. It operates as a credit-reporting agency and is one of the nation's leading marketing information and management company. It helps bring the consumer together with the marketer, creating value through meaningful offers and opportunities and by helping customers and consumers make informed financial decisions.

Trans Union
Trans Union is one of the three primary sources of credit information. It operates nationwide through a network of its own offices and independent credit bureaus. Trans Union serves a broad range of industries that routinely evaluate credit risk or verify information about their customers. Its customers include financial and banking services, insurance agencies, retailers, collection agencies, communication and energy companies, and hospitals. Trans Union has relationships with every large and most medium and small credit grantors throughout the nation.

Credit411.Com
Credit411.Com provides consumers with a secure and simple process for obtaining their credit reports as they are reported by Experian, Trans Union and Equifax, and also monitor when and who reviews or changes the information on the report. Credit411.Com's consumers also receive unlimited access to the 24- hour toll-free customer advisory hotline. It also provides credit monitoring services which will alert consumers when and who accesses any of their personal credit records.

iCreditReport.com
Online credit reporting company which provides online credit report in 30 seconds from one credit agency.

ConsumerInfo.Com
An online credit monitoring membership service, that provides credit report, and will regularly bring you vital information about your credit. This means that as others check into your credit, you will know everything they know.