 |
What is a Credit Bureau?
A credit bureau is an organization that tracks the credit histories and related information of individuals. Whenever a person applies for credit, housing, employment, or anything else that their credit history could have an impact on, their potential creditor, landlord, or employer can check the information on file with the credit bureau. If the credit bureau shows less-than-satisfactory information in its report on the person, it may affect the person's chances of receiving the credit, lease, or job. A poor credit report can also result in higher interest rates on a loan or credit card.
There are three major credit reporting agencies: Equifax, Experian, and TransUnion. Although the three companies share information, each credit bureau maintains its own report and credit score on each individual. When someone applies for a line of credit, housing, or employment, the creditor or employer typically looks at the report and score from each credit bureau. For this reason, if an individual is monitoring his or her credit report for fraud or false information, it is a good idea to request a copy of the report from each credit bureau.
A credit bureau gets the information for their reports from the individuals' creditors. For example, if someone has a line of credit with their bank, that bank will report information regularly to the credit bureau -- good or bad. If the individual is always on time with payments, that fact will show on the credit report; however, if the individual has been more than 30 days late on one or more payments, the credit bureau is sure to know about that, as well.
|
|
| |
|
|
|
|
|
|
| |
Request a copy of your credit reports. There are 3 major credit reporting bureaus, Experian, Equifax, and TransUnion. |
|
Check your report carefully. Check for errors to to be corrected. |
|
Contact the credit reporting agency with a registered letter and by calling them. They'll ask you to show proof of the error. |
|
|
|
 |
|
|
Find peace of mind with a Credit Report and Score!
Where millions of consumers just like you, come to check their credit report and credit score every hour, every minute, every second of every day. CreditReports.com offers the fastest, most reliable and secure credit report data available. The recognized leader. The consumer´s choice. |
|
Ways2Save: Biweekly mortgage program
If you're struggling to make your monthly mortgage payment, the bank has something for you. It's called a bi-weekly mortgage and it's being pushed...
Ways2Save: Biweekly...
Factbox: A distressed economy
U.S. President-elect Barack Obama will take office at a time when the U.S. economy is struggling, with many analysts warning of the potential for a...
Factbox: A distressed...
Getting Personal
Economics editor Chris Farrell and host Scott Jagow take questions on boosting morale in the office, microfinance, and paying for...
Getting...
<< All News >>
|
|
| |
Copyright CreditReports.com - 2008 - All Rights Reserved - Privacy Policy |
|
What is a credit report?