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.