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Which Credit Bureau Should I Use To Check My Credit
Report?
There are three main credit bureaus in the United States;
Equifax, Experian and Trans Union. Each bureau collects your
personal and financial information which is then sold to lenders
such as banks, credit unions, credit card companies, mortgage and
auto loan lenders. Your credit report is the product of this
collected information. Lending and credit companies use your
credit information to determine if they will approve you or not
and at what interest rate you will pay.
Many people are recognizing the importance of checking their
own credit report to verify its accuracy and to make sure that
they know where they stand in the credit world. Until they begin
the process to obtain a copy of their credit report, some people
do not realize that they actually have three credit reports
instead of just one. The three main credit bureaus keep separate
credit records from one another and produce their own credit
reports. Instead of the credit bureaus working together and
sharing information among themselves like some people may think,
they are actually competitors. That is why the information
provided on one credit report will more than likely be different
from the information provided on the credit report from another
credit bureau. Therefore, it is recommended to check your credit
report from all three credit bureaus in order to see the complete
picture.
There are a couple of options to checking all three of your
credit reports. You can contact each of the credit bureaus
individually to request a copy. Or you can go through one of the
many companies that provide a 3-in-1 credit report like
http://www.credit-report-credit-score.com.
Obtaining a 3-in-1 credit report is usually more convenient and
user friendly to the consumer compared to requesting individual
copies.
Verifying the data on all three of your credit reports is the
only way to know that the information that potential lenders and
creditors are evaluating you on is correct. When considering you
for a loan, some lenders will pull your credit report from only
one or two of the credit bureaus while other lenders will pull
your credit report from all three. It is always a good idea to
check your credit reports BEFORE applying for your next big
purchase. Covering your bases beforehand can often times save you
a lot of time and hassle during the application process.
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Note: This article may be freely reproduced as long as the
authors bio paragraph at the bottom of this article is included,
the article is published "as is" (unedited) and all URL's are
made active hyperlinks with no syntax changes.
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This article was written by Beth Pardue who has over 10 years
of experience in the financial industry assisting clients with
assorted financial needs. To learn more about credit reports or
to get a free credit report online please visit: http://www.credit-report-credit-score.com
MORE RESOURCES:
Credit - Google News
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