Credit history

Credit history is the record of use of debt. In the United States, three major credit bureaus — Experian, TransUnion and Equifax — track individuals’ and businesses’ credit histories, and compile them into credit reports. Credit card issuers and other lenders use credit histories to decide whether to provide customers with credit, and on what terms. What records are kept in your credit history, for how long and how they may be used are regulated by the federal Fair Credit Reporting Act.