Monday, January 13, 2014

Why You Should Check Your Credit Report Three Agencies

When it comes to creating a credit report, three agencies collect data on your borrowing history.  Credit card companies and other lenders may report to a specific agency or may report to all three agencies, but the data that is reported to any of them will eventually be aggregated in most cases and you will have a complete and comprehensive report with each of the three different credit bureaus in the United States. 

While your reports should be accurate and each of the three agencies should have basically the same information on your credit history, your scores from the three agencies may be different. Further, there are situations where a mistake may be made on one report but not all of them. As such, it is important to regularly obtain a credit report three agencies so that you will be aware of what each of the credit bureaus is saying about you.

A Credit Report Three Agencies Lets You Spot Mistakes

Sometimes, one credit reporting agency will make an error when compiling your credit report. For example, the agency may confuse you with another borrower who happens to have the same name as you. This mistake may be made by just one of the three credit reporting agencies and not the others. If this happens and you only check your report from one credit bureau, you may never see the error and won’t know to correct it.   This could adversely impact your ability to borrow money.

You Don’t Know Which Credit Reporting Agency Your Lender Will Use

You should get a credit report three agencies because you may not know which credit reporting bureau your lender will use when you apply for credit. You need to be aware of what your lender is going to see when you apply for credit so if there is a mistake or a problem you can fix it.  The credit bureaus may also have different credit scores for you, so you need to know what your score is that will be seen by the particular lender you are seeking a loan from.  If your credit score is lower with one of the credit bureaus, you should try to find out what is causing the score to be lower and can take steps to try to improve your credit so you get a more favorable interest rate.

Get a Full Picture Of Your Finances With a Credit Report Three Agencies

Since there are three different credit bureaus out there collecting information on you, getting a credit report three agencies just makes sense. Your credit report and score have such a profound impact on your finances and ability to borrow money, it only makes sense to stay informed.   Fortunately, it is easy to get a credit report three agencies from services like IDENTITY GUARD® so visit Credit Report 123 today to learn more.

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