A personal credit report refers to a credit report that is produced for a person, an individual, as opposed to a business. There are also business credit reporting agencies that provide credit data on businesses including business credit scores, recommended credit limits, number of employees, sales figures, etc.
A personal credit report is of serious concern to individuals because it contains your personal credit history from one of the three credit bureaus, Equifax, Experian, or TransUnion. The information in your credit report determines your credit score and your credit score can help you save a lot of money in financing charges. Over the lifetime of a consumer, your credit score can save you tens of thousands or even hundreds of thousands of dollars. This sounds far-fetched to some people, but the fact is, it actually is understating the amount of money that could, in many cases, be involved.
Bottom line: You want to be sure that the information in your personal credit report, or your credit files, are accurate. It only takes a few minutes to check your credit report online and it is an easy and convenient process.
What to do if you discover mistakes on your credit report(s)