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Five Ways My Experian Credit Report Can Improve Your Business | my experian credit report

Experian is a credit score provider that reports to the major three credit reporting companies. The goal of these companies is to get you a low credit score and a bad rental payment history. They will use all available means to accomplish this end. First, they will ask for your Social Security number, banking and checking accounts information and the types of credit you currently have. They will then use this information to generate a “guestimate” of your credit score.

Experian also offers Vantagescore. The purpose of this program is to compare the contents in your two credit reports. If they find inaccuracies in one or both reports, they make note of the inaccuracies and offer an appropriate remedy. Some of the remedies they offer are a change in one or more negative items, a correction to a misleading item or a combination of both.

Many individuals believe that errors caused by rental payments do not affect their credit report. This is not true. Your credit reports reflect your payment history with rental payments. Experian and Vantagescore both provide tools for correcting inaccurate rental payments. A positive rental payment report is vitally important to landlords and other prospective employers who rely on your rental payments to qualify you for employment.

Your property management company may check your credit report and, if it finds an error, they would be required by law to notify you of the error. They must also inform you of any potential actions they plan to take about the error. This is called a “cure”. In my Experian credit report, I found one error that showed up on an apartment lease application. The owner informed me that the application was incomplete and that she would send a corrected copy.

I sent the corrected copy, but only later did I find out that three separate credit reporting agencies had reported the error to Experian and Vantagescore. These three credit reporting agencies are TransUnion, Equifax, and Experian. Not only were my three credit reports affected but similar errors had been reported by landlords and other prospective employers as well.

My next step was to contact each of the reporting agencies to notify them of the error. Unfortunately, in my case the landlord had moved since the incident occurred and therefore, her name did not appear on the credit report that I requested. Even though this was the most severe error, it did not prevent me from getting a job. In the end, I was able to fix the errors that were shown on my Experian credit report. Because I made efforts to correct the misinformation shown on my personal credit report, the personal credit report was accurate.

Did my efforts affect my ability for employment? No, they did not, but my Experian credit report did contain inaccurate information about my payment history. This led to an employer placing an ad for a cleaning technician. When I filled out an application, I was able to successfully complete the application with a clean payment history.

The third security freeze affected my Experian credit reporting agency record. Although I contacted the Experian credit reporting agency to let them know that my freeze had been lifted, my financial services agency placed the incorrect freeze on my file. Because my security freeze had been previously lifted by another company, my new employer was able to see that I was once again eligible for credit cards and homeowner loans. Because of the misinformation contained in the three credit reports that I had submitted, I was able to successfully repair the errors that were shown on my personal credit reports.

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