All 3 Credit Scores

All 3 Credit Scores

All 3 Credit Scores

It is important to know all 3 credit scores assessed to you by each credit bureau; Experian, Equifax, and Trans Union. Staying on top of both your credit scores and your credit reports is key in maintain a healthy credit history. Having low credit scores can affect the amount of interest you pay on loans, affect insurance premiums, influence potential employers, and can deter lenders from lending to you further.

When it comes to managing your credit keep these factors in mind:

  • It Is Up To You To Manage Your Credit

While you can hire a company to do monthly credit monitoring, no one knows the details of your credit history better than you. Make a habit of checking all 3 credit scores and reports annually to ensure that all information is accurate.

  • Uncaught Errors on Credit Reports Can Lower Your Credit Score

You would be surprised how often mistakes are found on credit reports. Sometimes a simple data entry error can lower your score by hundreds of points. Let’s say you finally pay off a student loan, but when your lender transfers your updated account information to the credit bureaus they accidentally check the box ‘Past Due’ instead of ‘Paid In Full’. This error can significantly lower your credit scores.

Make sure you read through each of your credit accounts on your reports to ensure that all information is accurate. All debts will stay on your credit report for 7-11 years after your accounts are closed.

  • Poor Credit Can Influence Potential Employers

In order for a potential employer to check your credit scores, they must first obtain your written permission. Some employers associate low credit scores with a lack of responsibility or cause for concern if you will be working with cash or finances.

If you have low credit scores it may be worthwhile to be upfront with your potential employer before they run your credit history.

  • All 3 Credit Scores May Be Different

Ideally your three credit scores should be within 40 points of each other, but sometimes this is not the case. There are a variety of reasons for this. Some of your lenders only work with 1 or 2 of the three bureaus and some of the bureaus will remove ‘bad credit’ faster than the others.

If you have a large difference in your credit scores you can call the bureaus for tips on how to improve your score.

  • Checking All 3 Credit Scores Can Alert You To Identity Theft

If you check your credit scores and credit reports on a regular basis you will be in a better position to detect identity theft. If you see an unexpected drop in your credit scores, inquires to your credit history that you have not authorized, or accounts opened that you are unaware of, you want to catch them sooner rather than later. At the very least check all 3 credit scores and reports annually.

If your wallet is stolen or you suspect that someone has obtained access to your personal information, you can call each of the bureaus for a 90-day Fraud Alert to be placed on your account. What this will do is notify you every time someone attempts to access your credit information. Keep in mind, that if you try to apply for new lines of credit while you have a Fraud Alert placed on your account, your lending approval time may not be same day.

These are just a handful of the reasons it is important to stay on top of all 3 credit scores. To access your credit scores you can contact each bureau individually or sign up for a credit agency that will provide your credit scores, updated credit reports, and provide monthly monitoring.

3 Free Credit Reports

3 Free Credit Reports

3 Free Credit Reports

Each calendar year you are entitled to receive your 3 free credit reports from each credit bureau. Checking your credit reports each year is important in ensuring that you are not victim of identity theft, and that all of your current lines of credit are correctly updated.

The three credit bureaus that record your credit history are Experian, Equifax, and TransUnion. If you are also interested in receiving your credit scores, you will have to pay an additional fee to each bureau, or you can sign up with one of the many credit monitoring agencies that provide you with your credit scores.

 

Where to Get Your Free Report

To receive your free reports go to www.annualcreditreport.com for instant access or call 877-322-8228 to have your 3 free credit reports mailed to you within 15 days. When you call or go online please be prepared to provide information that verifies your identity such as:

  • Social security number.
  • Current of former employer.
  • Current or former lines of credit.
  • Current or past addresses.

 

Information Your 3 Free Credit Reports Will Provide

 

If you have not accessed your credit reports before, they will provide you with valuable information such as:

 

  • Current personal information such as your Social Security number, date of birth, most recent address, and current employer.
  • Current credit lines such as loans, credit cards, mortgages, or any accounts that have been sent to collection.
  • Closed or inactive lines of credit. Please note that these will stay on your credit report for 7-11 years.
  • The date each line of credit or account was opened, current balance, and if you have paid on time.
  • Companies you have given written permission to access your credit history or score for the past 2 years. Examples of these would be when you apply for a new line of credit, apply for an apartment, sign up for new insurance, or if you give consent for an employer to access your credit.
  • Matters of public record that effect your financial status such as past due child support, liens, or bankruptcies.

 

What to Do If Something is Incorrect on Your Report

 

If you find something on your report that is incorrect or that someone has accessed your credit history without your consent you need to file a dispute and may want to place a fraud alert on your accounts.

 

If you accessed your 3 free credit reports online and need to file a fraud alert, you can simply click the button from the drop down menu that states “File a Dispute”. You can also contact each agency by phone or mail. It is also best to contact the source of the incorrect information as soon as possible. For example; if a credit card has been opened in your name without your knowledge, call the credit card company immediately. All creditors’ phone numbers show up on your credit reports.

 

When filing disputes make sure to document the date, time, and name of everyone assisting you in resolving your dispute. Also keep copies of any paperwork that you provide to the credit bureaus or credit sources.

 

If you suspect identity theft while checking your annual reports, or at anytime throughout the year, call each bureau to place a Fraud Report on your accounts. This will ensure that for the next 90 days, or longer if you call to extend, that anytime someone attempts to access your account you will be notified. You can reach each bureau at:

 

Experian

Tel: 888-397-3742

 

Equifax

800-685-1111

 

Trans Union

800-888-4213

 

For identity theft you should also contact the Federal Trade Commission to see if it is appropriate to file for a Security Freeze. You can contact them at:

 

http://www.consumer.ftc.gov/features/feature-0014-identity-theft

3 Free Credit Report per Year

3 Free Credit Report per Year

3 Free Credit Report per Year

A credit report checkup is not something that most people ever think about doing. However, this is a very important thing to put on your to do list. Just as a physical checkup is vital to our personal health, so is a credit checkup vital for our current credit standing. Credit reports are important to check because there can be so many errors that can occur to many people each year. One of the best ways to maintain your credit checkup is to get your 3 free credit reports per year.

The top three credit bureaus are;

  • Experian
  • Equifax
  • Transunion

These are the big three in the credit reporting industry. They are necessary for all creditors to check and all three will give a customer a free report at least once per year. All an individual needs to do is to contact each one and request the free report. After you have obtained the free report, what do you do if there are inconsistencies showing up?

Clean it up

After you get your 3 free credit report per year from all three bureaus, it is time to really look them over with a fine tooth comb. There are millions of people who find that there are inaccurate reports listed on their credit report. Sometimes people do not find out that there are problems until they are applying for a loan for a new home or other purchase. This is not the time when you want to encounter trouble. If you are thinking about purchasing a home or other item that will result in your credit being checked, take some time prior to that purchase and make sure that your credit report is the best that it can be. Clean up all the items before you go to your lender.

How do you get these inaccurate items removed? You will need to request that the credit bureaus do an investigation on your behalf, by logging online and denying or appealing that the negative listing is yours. However, not just negatives can affect you. If your report lists that you have had a paid mortgage in good standing and you do not, the lender will wonder why you need to buy another home, and may think that your credit is not good enough. After you begin the appeal of the negative listing, it may take several weeks for the credit bureau to remove it from your report, although it can take much longer. Keep checking your report, even if you need to purchase a monthly plan to do so. It is better to have these things removed once and for all before you set out to obtain loans again.

Free reports

Free reports will help you discover what is going on with your credit and let you take the right steps toward fixing it. However, it is important not to hire any outside firm to fix your report yourself, unless you check them out thoroughly. If you do not, you are taking great risk at losing your money if you cannot make sure that the company is legitimate.

If a company tells you things that seem too good to be true, then they probably are not true. No one needs to hire a credit fixing company, as you can accomplish what you need to do on your own with some old fashioned homework and a determination to succeed and really turn your credit around. Many people get into tight spots during an illness, a divorce, or the collapse of a business and may suffer negative credit times, but those times can be put behind you.

3 Credit Bureau Scores

3 Credit Bureau Scores

3 Credit Bureau Scores

Just what is a credit score and who are the three main credit bureaus? A good credit score can do the following;

  • Get you a lower interest rate on a home loan
  • Lower your rate on any credit cards you obtain
  • Makes your car payment lower with a better interest rate
  • Get you a better position in your career.

While all of these things may not apply to all people, a great credit score will help you get much lower interest rates for the items that you need to buy. To obtain a credit score, one will need to take a look at all 3 credit bureau scores and see how they stack up to each other.

The 3 scores

There are three main sites that a creditor will check when you are applying for a loan or a credit card. When a creditor contacts one of the three he or she will obtain a FICO score, or a credit score on you and that will help them determine whether they can do business with you and at what terms. The 3 credit bureau scores portray certain details about the customer, but certainly do not tell us everything.

Who are the 3 main credit bureaus? The main three that are utilized by most creditors are TransUnion, Experian and Equifax. All three of them are a little bit different and it is common for a creditor to really like the relationship that they have established with one over the other and may never use the other two. All three of them have the information that is needed but just like working with any other establishment, someone has a preference with one over the other.

All 3 credit bureau scores are sometimes looked at by many creditors to see if one has some information that is not included with another site. Not all information is included in the same way on all three sites. However, it is important that if you are intending to make a major purchase and take a loan out that you do your own check on all three sites to get all 3 credit scores. Sometimes there are mistakes on a credit report that may get you turned down for credit. It is so important to take a look at everything so that there is nothing on there that does not apply to you.

There is an opportunity to get a free copy of your credit scores at all three credit bureaus once per year. If you have an ongoing problem, or already know that your credit is not where it should be, you can purchase a monthly option that will let you check your report any time you wish. This is important to be able to raise your lower score so that you can qualify for lower interest rates when you decide to purchase a home or a car.

How to Appeal

If when you check your credit report and get all 3 credit bureau scores and find that there are errors listed, you can ask the credit bureau to check out your claims and to notify you in the event that they determine that a mistake has been made and then those mistakes can be removed. Once you notify the credit bureau that a mistake has been made, it usually takes about two weeks for the investigation. In addition, if there are negatives on your report and you have paid the creditor you may request from the creditor that he or she remove the error from your credit report. Be proactive and stay on top of your own credit.

My 3 Credit Scores

My 3 Credit Scores

My 3 Credit Scores 

There are three top services that give credit-reporting information. They are Experian, TransUnion and Equifax. All of these agencies deliver a variant of FICO scores that uses the system developed by the Fair Isaac Corporation. Individuals can order their credit report from the three major companies for a small price.

The opportunity is also available for individuals to use numerous identity and credit monitoring facilities that will give the consumer their credit score weekly or even on a monthly basis. Finally, the consumer is allowed to view their credit report from each of the companies for free once a year. Although, this free credit report won’t show the individual’s credit score. It will only show his or her credit record or report.

My 3 credit score companies are:

TransUnion

The agency, TransUnion is a main credit bureau. It proposes the consumer a monitoring service that is monthly and entitles him or her the opportunity to view his or her credit report and score monthly. After a free trial of one month, TransUnion credit bureau will begin charging a monthly price.

Equifax

Equifax presents consumers with a service that they call Score Watch. Score Watch lets the consumer have the ability to monitor his or her credit score each month for a monthly fee. The subscription that includes the monthly fee gives consumers the opportunity to have admittance to explanations of the user’s scores or score, admittance to two FICO scores, in addition to the ability to monitor and give alerts if something fluctuates on his or her Equifax reports. Not only that, Equifax provides many different products that are designed to help consumers to have the ability to monitor their credit scores, which comprises a “3 in one” report on their scores. This allows consumers admittance to their credit report from the three top credit bureaus, as well as receiving their credit scores. There is a price for this service.

Experian

Another one of the 3 credit scorefacilities, Experian computes the consumers credit score. Experian provides free admittance to an individual’s credit score and report just for enlisting in a package called Triple Advantage. If an individual fails to stop the Triple Advantage program in trial period offered that allows the consumer to a free score, he or she will need to pay a monthly price for the service. This membership, however, gives the consumer admittance to the three major credit scores and reports.

How to Get all 3 Credit Scores

3 Credit Bureau Scores

How to Get all 3 Credit Scores 

There are numerous suggestions as to how to get all 3 credit scores online. With such a variety of selections, it may be hard to decide what option is best. Consumers are authorized that gives them the opportunity to obtain one credit report for free every year. But, it requires a fee for a consumer to get his or her credit scores.

A corporation titled, Fair Isaac Corporation (FICO) developed a system for calculating credit scores to aid lenders in determining whether a consumer was “credit worthy” and the possibility of the individual to make payments on time. FICO scores benefits businesses and other corporations to expand their decision-making ability about credit lending and lending money. The credit score is produced by data that has been collected from separate credit reporting companies and certain lenders.

Instructions on Obtaining All 3 Credit Scores

  • You can to online to myfico.com and click “Start Free Trial”. Since you will have to pay for your credit scores, you’ll need to have a credit or debit card. The best method to get all three-credit scores is to pay for all three-credit scores at the same time.

TransUnion, Experian and Equifax are the US agencies that report your credit scores. It has been reported that annualcreditreport.com or myfico.com are the favored ways of getting your credit scores.

  • If you go online at annualcreditreport.com, you will need to fill out a form of your personal information. You’ll be guided to the credit company’s website to get your data. You’ll need to mark a check on each credit agency that you would like to visit. Those websites will allow you to request a business or personal FICO score that you will need to pay a fee for. Pick the choices that you want.
  • You will be able to get a free credit report if you are refused credit. These reports won’t include the credit scores if the user requests a specific credit score and there will still be a fee for obtaining the score.

If you’d rather not use the Web, you can ask that each credit agency send you your report by mail. Free credit reports that are requested by mail or phone should be sent within 15 days of the original request.

The FCIC recommends against communicating with each credit unit because of an agreement contract.

3 Bureau Credit Scores

3 Free Credit Reports

3 Bureau Credit Scores 

What a Credit Score Is:

When an individual applies for a loan, 3 credit scores are frequently used by the creditor to assist them in determining the likelihood of whether the person is likely to pay the loan off. Whether the individual applies for credit for a car loan, a credit card or a mortgage, lenders need to be aware of any risk they may take by loaning the money.

Most of the lenders use FICO scores to help them to establish whether the person applying for credit poses as a credit risk or not. Individuals have 3 bureau credit scores – one score for each credit bureau – TransUnion, Equifax and Experian. Every credit rating is based on data that the credit bureau maintains on record about the individual applying for credit. While the data change, a person’s credit score are inclined to also change. A person’s FICO credit scores influence both what the terms of the loan will be and what interest rates a lender may offer. Improving one’s FICO score can aid in receiving a better interest rate from a lender.

For an individual’s three FICO credit scores to be computed, each of the 3 bureau credit reports needs to have at least one of his or her accounts to have been open for no less the six months. Not only that, every report needs to have at least one of his/her accounts to have been updated within the last six months.

FICO Scores

3 Bureau Credit Scores are frequently referred to as FICO scores for the reason that the majority of credit bureau scores that are used in the USA are made from software that was developed by Fair Isaac & Co. – hence FICO.

FICO scores deliver the best monitor to prospective risk that is solely based on the data of the credit report. The higher score indicates a lower risk. However there is no score that can say whether a particular individual would be a bad or good customer. Despite the fact that most of the lenders use FICO scores to aid the in determining their lending choices, every lender provides a strategy of its own, which includes the amount of risk the lender finds is satisfactory for a credit product. Lenders do not use a lone cutoff score and there are a variety of other factors that lenders may use to decide what an individual’s interest rate will be. Nevertheless, individuals now have the ability to see what the typical interest rate lenders will offer which is founded on the FICO score spans.

3 Credit Reports for Free

3 Credit Reports for Free

3 Credit Reports for Free 

A person’s history of credit is extremely important especially if the individual would like to apply for a mortgage loan, bank loan, employment, etc. An individual’s credit history is not only important to him or her, but a lot of other companies and people are interested in it as well, such as: banks, utility companies, mortgage lenders, possible employers, etc. It’s vital to understand one’s credit score, credit report and the agencies that gather the credit data – credit bureaus.

Each consumer or individual has the right to request a 3 credit reports for free, under the Fair Credit Reporting Act bill that was passed in 2003. The bill mandates that reporting companies like TransUnion, Equifax and Experian provide a consumer with a free credit report at the consumer’s request. The consumer can request their 3 credit reports for free every 12 months.

A person’s credit reports contains a person’s information on where he lives, how he pays his bills, whether or not he has been arrested or sued, or if he has ever filed for bankruptcy. The companies who report consumer credit sell this data to insurers, creditors, employers, potential employers and other establishments in order to evaluate the individual’s credit when applying for employment, renting a home, applying for credit and/or insurance.

Information on Credit Reports

In addition to the information given above, an individual’s name and Social Security number will be included in the report. The consumer’s current credit status, such as mortgages, credit card accounts, student loans, car loans, etc. may be of great importance for other reasons. In addition, it may also have how much the consumer owes his creditors, the terms of the credit and the payment history. There will also be the information about the consumer’s public record as to whether there are any court judgments against him, whether he has filed for bankruptcy or if there are any liens against his property.

The fact that consumers can receive 3 credit reports for free is important in that the consumer should be aware of what is on his or her report. To have the free report is helpful information to the consumer because lenders could use his credit information to determine if he can get a loan and what the terms of the load would be. Insurance companies will want to see the credit reports because they use that information to help them determine whether the consumer can obtain insurance and at what rate.

Even the utility and telephone companies may want to use the consumer’s credit report for decision making on the services they may provide.

3 Credit Scores

Getting all Three Credit Scores

3 Credit Scores 

Credit scores are a statistical expression built on a numerical analysis of an individual’s credit records to signify the creditworthiness of that individual. Credit scores are mainly built on credit report data usually from credit bureaus.

Lenders like credit card companies and banks use the credit scores to gauge a possible risk to lending to a consumer who may have bad credit or problems paying his debt. Lenders will use the consumer’s credit scores to determine if the consumer is qualified for a loan in addition to attaching what rate of interest and the credit limit for the requester of credit.

The scores of credit bureaus are frequently titled “FICO scores” due to the fact that the majority of scores from credit bureaus that are utilized in the US are from a particular software created by Fair Isaac and Company. The FICO scores are given to lenders by the main credit reporting companies.

Consumers have 3 credit scores, or FICO scores – one score from each of the three main credit companies: Equifax, Experian, and TransUnion. The 3 credit scores are based on data that the credit bureau has on their record about the consumer. If a consumer’s FICO score is calculated to a low number, there are steps that he or she can take to improve his or her FICO score which will help the consumer be qualified for better charges.

Additional Credit Scores

There is more than one score in the world of credit scores. When people speak about an individual’s credit score they are speaking about his or her present FICO score. The fact is that there is not just one credit score that is used to make lending decisions because:

  • FICO scores aren’t the only scores from credit bureaus

Even though the FICO scores are used the most, there are scores from other credit bureaus. These scores may appraise an individual’s credit report another way than FICO scores, but the individual could run a higher risk of different scores

  • The scores of credit bureaus aren’t the only scores that are used.

Quite a few lenders have their own scores of crediting that often includes FICO scores in addition to other personal data

  • FICO score could change in time

As an individual’s information changes, so do the credit scores, which cause his or her FICO score to change.

  • Credit scores may differ from the main agencies

There is a chance that an individual’s present scores differ from the other agencies because they have different information on the individual.

All 3 Credit Reports Free

All 3 Credit Reports Free

All 3 Credit Reports Free 

Every person has the right to have all 3 credit reports free one time each year. Because of the Fair Credit Reporting Act the consumer reporting corporations nationwide are required to provide each consumer with a copy of his/her credit report for free. However, the consumer must request the credit reports only once a year. The FCRA endorses the privacy and accuracy of data in the credit records of the national companies that report consumer credit ratings. The Federal Trade Commission is the nation’s protection agency for consumers and puts in force the Fair Credit Reporting Act as far as consumer reporting agencies are concerned.

A credit report contains data on how individuals pay their bills, where they live and whether or not the individual has ever been arrested or sued or have applied for bankruptcy. The credit reporting agencies sell the data in an individual’s report to insurers, employers, creditors and additional businesses that employ it to assess the person’s applications for insurance, renting of a home, employment or credit. It is necessary to discuss the particulars of an individual’s FCRA rights, which founded the free credit report plan

Getting your free report

The three national reporting companies of consumers have established a telephone number that is toll-free, a main website and an address for interested consumers who would rather mail in their request for their free credit report.

Consumers have the opportunity to either request their credit reports from the three individual credit-reporting companies all at once or individually. This law permits consumers to request a free credit report from the three credit companies once a year.

Individuals who request a free report must supply their address, name, date of birth and Social Security number. If an individual has moved within the previous two years, he/she might be asked to give his/her former address. To continue the safety of one’s file, the three national credit-reporting agencies might ask for additional information that only the individual requesting the report would know. Each agency may or may not require other information due to the fact that the data that each company has the probability of coming from different bases.

Depending on how an individual request his or her free credit report determines how long it may take to receive it. Requesting a report online gives instant access. If requested by phone, it may take up to 15 days. It will also take around 15 days to receive the requested free credit report if the individual mails in the request.

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