TMCC Financial Literacy Guide

22 WHO CARES ABOUT YOUR CREDIT HISTORY? Lenders, landlords, insurance companies, and potential employers are a few who might look at your credit history. Your credit history can make a big diference when you: • apply for a loan or credit card • look for a job • try to rent an apartment • attempt to buy or lease a car • try to get rental or homeowner’s insurance Because these lenders, landlords, and others care how you handle your bills and other fnancial decisions, you should care about your credit too. WHAT’S IN YOUR CREDIT REPORT? Your credit report is a summary of your credit history. The three major credit bureaus—TransUnion, Equifax, and Experian—collect credit and other information about you. In your credit report, you’ll fnd information like: • your name, address, and Social Security number • your credit card balances • what loans you have • how much money you owe • if you pay your bills on time or late • if you fled for bankruptcy Other businesses pay the credit bureaus to use that information to check your credit. They run a credit check, before they decide whether to lend you money, give you a credit card, or rent you an apartment.