Credit Reporting Agencies - The Big 3 by primusboy


									Credit Reporting Agencies - The Big 3
Your credit rating is one of those things you might not give much thought
to on a daily basis, but it's an important part of your daily life. Good
credit is vital to your financial freedom. When you consider making a
large purchase, one that requires credit, you have to give consideration
to your credit score and the health of your credit.
And when you do think about your credit score, you have to think about
the credit reporting agencies that give you that score. Who are these
agencies? What do they do, and how should you deal with them if the need
The three most prominent credit reporting agencies are Experian, Equifax
and TransUnion. When you apply for a car loan, or go to rent an
apartment, or apply for a new credit card, these three are the ones that
most commonly receive requests for your credit score. Sometimes employers
even check with them before hiring a new employee as part of their
screening process. They all do the same thing basically, but in a
different way.
Experian - As one of the major credit reporting agencies, Experian
provides credit information as a tool to determine the credit worthiness
of individuals as well as businesses, both large and small. Experian also
provides other services to businesses such as risk management.
Equifax - Equifax also provides credit-worthiness information to lenders
as well as fraud protection and ID theft protection programs to
consumers. Services such as payroll are offered to businesses.
TransUnion - TransUnion also provides credit scoring for consumers, as
well as help with fraud and ID theft. Services provided to businesses
include risk management solutions and others.
As you can see, each of the three major credit reporting agencies not
only reports on the credit scores of everyday people, they also provide
other valuable services to individuals, and services to businesses as
Each offers you access to your report and credit monitoring services for
a fairly reasonable fee. If you are working on reb uilding your credit, or
are simply watching your credit closely, these services can be
When it comes to your own credit, it's vital to know how to deal with
each of these agencies if you have a question or a dispute about
something that you find on one of your credit reports. Since each credit
reporting agency uses a different format for their reports, and each uses
different methods to rate your credit, you may find errors or omissions
on one, but not another.
When you do find a problem, it's important to have the agency correct it
so that your future credit isn't threatened by faulty or missing
information. All of the credit reporting agencies are eager to make sure
that the information they are reporting is correct and up to date.
They have their reputation at stake after all, so each provides means for
consumers to report problems and request corrections. The agencies strive
to research and correct mistakes in a timely manner, usually within 30
days. You requests should always be in writing and as detailed as
possible, with copies of any documentation you have. This makes it easier
for each credit reporting agency to act quickly.
The health of your credit is essential to your financial health and well -
being. Monitoring your credit score is one way, perhaps the most
important way to gage your credit's health. By taking advantage of what
the credit reporting agencies can offer, you will be helping yourself to
better financial health.
Get help dealing with the 3 credit reporting agencies today - learn how
to protect your best interest at now!

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