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A credit report is a document that provides insight into the financial reliability of an individual or business. It includes information such as payment history, outstanding debts, bankruptcies, and overall creditworthiness. The purpose of a credit report is to assess the risk of non-payment before entering into a financial agreement.
In this article, you’ll learn when to request a credit report, what’s included, and how to easily obtain one.
Table of contents:
Requesting a credit report is a smart way to reduce financial risk in your business operations. Before working with new customers or suppliers, it’s important to ensure they can meet their payment obligations. Reviewing a credit report in advance can help you avoid unpleasant surprises.
Even for existing clients, it can be valuable to check their credit information regularly—especially when payment behavior changes or the transaction value increases.
For individuals, a credit report is often used to assess personal creditworthiness when applying for a loan, signing a lease, or making large financial commitments. In these cases, the report includes personal loans, credit limits, and any missed payments.
A credit report consists of several components that provide a complete picture of a company’s or individual’s financial status. A typical report includes:
If you’re unsure what a report looks like, you can review a sample credit report from major providers like Experian or GraydonCreditsafe.
You can easily request a credit report online through specialized agencies like GraydonCreditsafe, Experian, or Equifax. These providers offer in-depth reports containing payment behavior, outstanding balances, credit risk scores, and more. In most cases, all you need is the company name or business registration number.
For individuals in the United States, you can obtain a free credit report once per year from each of the three major credit bureaus (Equifax, Experian, and TransUnion) via AnnualCreditReport.com. This annual credit report gives you access to your full credit file without cost or impact on your credit score.
Payt doesn’t provide a full downloadable credit report, but it does offer direct access to real-time credit information for your business clients—thanks to integration with our partner GraydonCreditsafe.
With Payt, you get:
Want to see how Payt can support your business? Download our brochure and explore the possibilities.
A credit information report is a document that outlines a person’s or company’s financial reliability. It includes data on debt, repayment history, credit limits, and public records like bankruptcies. It helps lenders and businesses assess risk before entering into a financial relationship.
Yes. In the U.S., you’re entitled to a free credit report from each of the three main credit bureaus once a year via AnnualCreditReport.com. This report includes your open accounts, payment history, and any delinquencies.
Yes. Every U.S. consumer with credit activity has a credit score, calculated based on factors like payment history, debt levels, and length of credit history. FICO scores and VantageScores are the most commonly used models.
By requesting your annual credit report, you can review any negative information such as missed payments, defaults, or accounts in collections. These are usually listed under “adverse accounts” or “derogatory marks.”
To improve your score:
Consistent, responsible financial behavior is key to raising your credit score over time.
