A compilation of how a person or corporation has paid its bills. A credit history shows whether the subject is typically late with payments, has defaulted on an obligation, or has filed for bankruptcy. Consumer credit agencies compile this data and then sell it to financial institutions interested in checking a personÂ’s credit history before extending a mortgage, loan, or credit card. A credit history is judged by a credit scoring system that adds or subtracts points depending on certain behaviors such as a large income or late bill payments. In recent years, some companies have required potential employees to agree to having a credit history run on them before being hired.