3 bureau credit report is actually a misnomer, it is loosely for credit reports from 3 different agencies.

They are as follows:

Transunion
Experian
Equifax

If you are having social security number in USA, your entire financial history is with these 3 agencies. Everything financial in your life is pretty much reported to them and based on the data they receive they create a document known as "credit report"

It is amazing how much information they have.  When I checked my credit report for the first time I was amazed at the wealth of information contained in it.

These credit report is very important because whenever you apply for car loans, home loans, student loans, personal loans or try to rent a home or try to get an employment your credit worthiness is usually checked by one of these reports.  It is very essential that you keep an eye on your credit report, because not everything reported is correct on your credit report and sometimes scammers can post negative things on your credit report and you loose your creditworthiness.

If you notice any negative items you can always dispute it.  Any sort of dispute must be done in writing and you should have records of them with you because that will help you in the long run. 

Credit report is also utilized in generating your credit score.  Credit score is a numerical representation of your creditworthiness, and higher the number better it is.  Any payments you have made, bills you have paid late, and even bills you have completely ignored, all these is taken into consideration in forming your credit score. Length of your credit history, number of credit card account, outstanding loan balances, your employment history - all these factors contribute to form your credit score. 

If you want to know your credit report and credit score, it will be very easy.  Once a year you can review it for free.  You can order it by calling toll free number of all 3 bureaus or you can order it online.  You can also order it free if for whatever reason you were denied credit or loan.

As I told you earlier it would be wiser to keep an eye on your credit report.

Article source:  3BUREAUCREDITFREEREPORT.COM