To make sure that their potential customers have enough creditworthiness, that is, they have a stable source of income, have a good history of paying back past debts, etc., banks, financial institutions and stores that issue credit cards check the person’s credit history. There are a number of agencies in countries around the world that provide these institutions with people’s credit reports, and give a credit score assessment to help determine whether someone is creditworthy and should be approved for a loan or a credit card.

In the United States, the three biggest nationwide agencies that are responsible for credit reporting are Equifax, Experian and TransUnion. Every consumer is entitled by Federal law to free credit reports once a year from each of these agencies.

In fact, for your convenience, and to effectively comply with Federal law, these three credit bureaus have co-sponsored a secure website, AnnualCreditReport.com, through which you can access your free instant credit report with all three bureaus easily and conveniently.

It is highly recommended to take advantage of this instant credit report option, and check your credit report at least once a year (remember, it’s free!), to keep track of your credit history, know about your creditworthiness (remember, banks and financial institutions have access to your information in this regard, and so should you), and to identify and protect against potential identity theft.