A consumer’s financial future is greatly affected by what is in their credit report. Keeping close tabs on the rise and fall of the score may be important for everyone. Your credit report may dictate whether you qualify for certain important financial opportunities like renting or buying property, qualifying for a loan, being approved for a credit card, or even landing a job. This makes it essential that your credit report is error-free and reflects your current financial situation.The Fair Credit Reporting Act was established in 1970 when Congress realized the weight of credit information. This act was set up to protect consumers and to regulate the use and distribution of credit data