Information from the Washington State Department of Financial Institutions

Credit Reports and Scores

Understanding how credit reports and scores work is an essential financial skill. Below, we have helpful resources and information that can help you understand credit reports and scores.

How Your Credit Is Reported

Your credit report is a detailed breakdown of your credit history based on information provided to the US's three primary national credit bureaus – Equifax, Experian, and TransUnion.

You have a different credit report at each of the three credit bureaus.

Various entities, such as lenders, insurance companies, employers, utility companies, and landlords, check your credit report to look at how you use credit.

Getting Your Free Credit Report

You are entitled to a free annual report from Experian, Equifax, and TransUnion. Obtain your credit report at AnnualCreditReport.com. In addition, the three bureaus have permanently extended a program that lets you check your credit report once a week for free.

Understanding Your Credit Score

Your credit score is a number between 300 and 850 based on information found on your credit report.

FICO and VantageScore are the most common credit scores used by lenders.

Your credit score is primarily based on how well you have made payments, but there are other factors, such as how much you have borrowed, how many accounts you have, and if there have been a lot of recent credit applications.

Correcting Errors

Credit reports do occasionally contain errors. If you notice an error, contact the credit bureau right away. The errors could be impacting your credit score.

Additional Resources