The three major credit reporting agencies are Equifax , Experian , and TransUnion . Establishing a good credit history is an important part of your personal and financial future. It can help open doors for you or keep them locked. A variety of people and businesses make decisions affecting your future that are based on your credit history. Banks and other lenders consider your credit report when reviewing applications for mortgages, revolving lines of credit or other loans.
Landlords sometimes use credit reports to decide among rental applicants.
And a potential employer may even assessan applicant's credit report prior to extending a job offer. Your credit report may also be reviewed when you apply for auto insurance or homeowner's insurance, or even a mobile phone. That's why it is so important to establish a positive credit history. In short, by consistently paying your bills on time. Remember, to establish a good credit rating you should always pay at least the minimum amount due every month by the due date.