Equifax, Experian/TRW, TransUnion Credit Report Information
You'll save money and reduce risk when you take charge of your own credit health.Whatever your financial status you hold, your credit report is the beginning to any financial actions you plan to take. See how your credit will measure up for a loan or credit before you apply.
A credit report contains four distinct sections, your ID information, including name and social security number, public records, such as bankruptcies, account information, which are the people you owe, and inquiries made by companies that are checking your credit.
You might have been told to get a copy of your credit report as part of the pre-qualifying process for a mortgage. The purpose is to see how your credit looks and to clear up any errors that might be in the report.
Protect Yourself from Identity Theft
Identity theft is growing at such a phenomenal rate. According to a Federal Trade Commission (FTC) survey, one in eight respondents (12.7 percent) were victims of ID theft in the past five years. This equates to about 27 million Americans — 10 million of them in 2003 alone.
A common admonishment
is to check one's credit report at least once a year to see if you're
a victim of identity theft. If
you find a mistake on your credit report -- an account that isn't yours
or a disputed amount -- you'll need to fill out the form that comes with
the report, or follow the instructions on the explanatory sheet.
Consumer-frientdly online credit reports
New consumer-friendly reports are color-coded, easy to read, and if ordered online, it comes instantly. There are three diffrent major credit bureaus: Equifax, Experian (formerly TRW), and TransUnion.
People tend to pull one and think everything is the same on all of them. That's not normally the case. The credit reports will have different information because it's a voluntary system, and creditors subscribe to whichever agency they want -- if any at all.
| Experian credit report |
Trans Union credit report | TRW credit report |
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