Credit report
A file the credit bureaus assemble from what lenders send them — a monthly summary of your credit obligations, running 30 to 45 days behind reality.
A credit report is a file maintained by each of the three main US credit bureaus — Equifax, Experian, and TransUnion — describing your credit obligations. It lists open and closed accounts, balances, payment history, credit limits, inquiries, and public records like bankruptcies. Credit scores are calculated from what is on the report.
Lenders send updates to the bureaus on a monthly cycle. That reporting cadence means the report runs 30 to 45 days behind reality: the card paid off two weeks ago may still show its old balance; a loan opened this week may not appear yet. The report is not wrong so much as late.
Under the FCRA, you are entitled to free copies of your reports from each bureau; the official site is annualcreditreport.com. Errors happen and are worth reviewing occasionally. Plumb does not read your credit reports — the plan is built from live connected-account data, which is materially fresher than the bureau file.
Plumb is financial education, not financial, investment, tax, or legal advice.