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Ten Reasons Why Top Credit Bureaus Is Common In USA | top credit bureaus

Credit bureaus were once agencies which gathered aggregate credit information from many different data sources and compiled credit reports into one. They then sell the information to lenders, banks, credit card companies and other consumers and get credit scores to gauge the creditworthiness of a person. Today, the top credit bureaus are global agencies that compile information from different sources in different countries and compile them into standard credit reports for consumers. The purpose of these agencies is to provide the consumer with accurate, complete and up to date credit reports so they can make informed decisions about their credit worthiness.

Experian – The top credit bureaus that Experian provides to consumers are Experian, Equifax and Trans Union. Experian gathers information from many sources in order to create your credit scores. These sources include credit reports from credit reporting agencies such as Experian, Equifax and Trans Union, application activity from banks, insurance companies and mortgage companies and even your banking history from banks. The sources that Experian uses are just the tip of the ice Berg.

Once you have your credit report from Experian, Equifax or Trans Union, you need to check it thoroughly for errors. You can easily do this by getting a free copy from each of the three agencies. Once you have the free copy, you need to look for anything that does not seem right, then call the hotline number provided on the cover sheet. Each of the top credit bureaus will supply a toll free number where you can easily access your credit bureau and report.

Get Your Credit History – After reviewing your credit report from the top credit bureaus, you should check it against the records in your state. If you find something that is not correct, you should dispute the item. When calling the agencies that provide the reports, be sure to provide your name, address, and any additional information that you know would help prove the inaccuracy. Once the items are disputed, the credit bureau has thirty days to fix the problem, unless they can contact you to offer a settlement. The most common disputes stem from incorrect bills, wrong addresses, old bills that are not recognized by the agencies, duplicate copies of bills and other items.

Compare Scores – After you get your credit history, you should then compare all of the three major credit bureaus. The comparison process is quite simple. You simply need to look for the score that corresponds to the amount of money that you have already paid on bills. If you have paid more than the minimum payment, then you should see your overall score improve. Otherwise, you should keep checking your score at least once a year.

Check All of Your Credit Cards and Debt – One of the best ways to check your entire credit history and see what lenders are reporting is to use the internet. There are many websites available to help you check your lenders. You can even get copies of your credit report to make sure that everything on it is accurate. The main credit bureaus, Experian, Equifax, and TransUnion, do not offer online checking of your credit cards. Therefore, you will have to use the websites for the individual lenders.

Inquire about Old Loans – If you want to check your entire past credit history and find out how lenders view your situation, you should also inquire about old loans. These lenders may not report to the three main credit bureaus. However, they will still have information on their records. They may be able to tell you whether they were turned down for a loan or whether a loan was granted. This can save you time when you are applying for new loans, since you will already know whether or not your past credit cards and loans are showing properly.

Use the Websites Available to You – If you cannot find information from the three credit bureaus on the website, or if you would rather view everything in detail, you can go to each of the three credit bureaus' websites. All of the websites will give you information on the lenders who would be able to approve you. However, all three credit bureaus will have different ways of reporting your past payments and debt. Therefore, you would want to look at all three reports carefully, and not just the most recent one. The most recent will show you the most recent information, since older reports may not reflect your current financial situation accurately.


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