Your credit file is created when you first borrow money or apply for credit. On a regular basis, companies that lend money or issue credit cards to you (including banks, finance companies, credit unions, and retailers) send specific factual information related to the financial transactions they have with you to credit reporting agencies. The credit reporting agencies organize and store this information so that it can be referred to in the future, with your consent. Your credit file contains all the information that a credit reporting agency has received from companies that have extended credit to you. For example, it might include a listing of your credit cards or lines of credit, along with a history of whether or not you have paid on time. If you have declared bankruptcy, that fact will appear. If you did not pay a bill and your account was sent to a collection agency, that will also show on your credit file. In summary, your credit file is a report of your financial history and performance with credit grantors.