Your credit report is the documented history of your financial activities where you either borrowed or financed a purchase. In the report you will find:
– Who you’ve borrowed from
– How much money you’ve borrowed
– How much money you still owe
– Your Payment History
– Who you owe money to
Essentially, if you conducted any financial business where you didn’t pay cash or settle your debt, it is possibly reported on your credit report. Not every business reports your payment history to your credit report. For example, when you apply for a cel phone and make monthly payments, this does not show up on your credit report. However, if you close the account and did not pay your final bill, the phone company may report this failure to pay on your credit report.