Credit Cards Truthiness

Archive for September, 2009

The Three major credit reporting agencies are the following;

1.    Equifax
P.O. Box 740256
Atlanta, GA 30374
(800)-685-1111
Web site: www.equifax.com

2.    Experian
PO Box 2002
Allen, TX 75013
(888) 397-3742
Web site: www.experian.com

3.    TransUnion LLC
P.O. Box 2000
Chester, PA 19022
(800) 888-4213
Web site: www.transunion.com

You will find their respective mailing address, which is a PO Box. This means that you may contact them thru mail. You may also call them up or send a Telefax message. For online queries, the trusted website has been provided above. You may login anytime and enter your pertinent information when you need to get your credit score.

Equifax highlights its mission on a company that can be totally trusted of any information. It has been serving the people for over a hundred years now and has served everyone with the highest integrity and reliability, as quoted. Its vision is to empower every customer to manage their credit information, secure and maintain a high level of confidentiality, and most of all to guide everyone to be financially sound. This means protecting and enhancing the credit score of each and everyone. It boasts of a patented ID verification and authentication services to eliminate theft and fraud. At present, it has approximately 7,000 employees across North America, Latin America, and Europe.

Experian is a provider of information and analytical tools to guide companies and businesses in making financial decisions. They develop materials for companies as well as individuals to help them manage well their finances and cash portfolio. They presently support clients in more than 65 countries and employ 15,500 people around the world. One thing evident about Esperian is its’ transparency. It embodies in itself the responsible company image as it holds on to a “No Door Policy.” It values communication as a public responsibility and gives out updates regularly thru its’ Press Relation Staffs.

Here are some of the recent press releases, which Esperian has brought to the public: Auto Loans Past Due went up to 21.2%; Higher Delinquency on Auto Loans; Consumer Car Loans not supported by big banks. There are more to these. One may just login and be a member, and sure enough you’ll get the latest updates in the financial world.

Experian emphasizes confidence and control when making financial decisions. Organizations, as well as an individual must exercise full control whenever he is faced with a situation whereby one has to make a wise financial judgment. Confidence and control can be achieved when one has the complete and accurate information on hand. With the latest technology and highly advanced financial tools, one can readily make a wise decision. The core products and services of Esperian are divided into four categories, namely: Credit Services, Decision Analytics, Marketing Service, and Interactive. And its strategy centers on the following elements: Focus on Data and Analytics, Drive Profitable Growth, and Optimize Capital Efficiency.

TransUnion centers on the following key factors: honesty, experience, and relationship. These elements have continuously guided TransUnion in serving the people. As emphasized: “Providing the Power to Achieve.” The most recent project it had undergone is the “3 in 1 Credit Report with Free Score.” This is a faster and easier way of tracking your credit score from the 3 Bureaus. The enhancements in the report are the Side by Side Comparison of Scores, Clearer Graphics, and a Quick Summary detailing the Report. One can apply for this online.

A better perspective of the three major credit reporting agencies can be done by logging in to their respective sites and check the most recent updates.

Credit Score is vital for each and every consumer. It identifies the person to his financial capacity to purchase a product or service. This is very much needed when applying for loans and much so for credit cards. When one applies for a housing loan, an auto loan, or a credit card, the credit score is being considered on top of the list. This is the parameter as to how the person has been managing his financial assets. A bad management of one’s budget and cash flow will surely project a bad or poor credit rating. While one who has shown a well balanced income and utilization of funds will surely be given a Fair or Excellent Credit Rating. As mentioned it is the most important financial profile of a person.

It is imperative then to get your credit score higher. The higher the score is, the better since the score range is 350 to 800.

There are two different ways of getting your credit score, namely online and offline. If you wish to get your credit score online, simply follow the following steps.

1.    Look for a website, which would suit your need. As of now, the AnnualCreditReport.com is one site that offers free online services for credit scores. Credit scores must come from the three given Credit Bureaus. There are still other sites there which you may want to try. There will be offers where you’ll get a credit score higher than the usual, which can be used for better presentation when you apply for that loan or credit card. However, the important thing is you get a credit score with accuracy and for FREE.
2.    The site that you are entering must be secured. You will be entering pertinent information and you must see to it that the personal information you will be providing the site shall be dealt with high confidentiality.
3.    Once everything is set, you may now send your personal information and you shall be receiving a report of your credit score in a few seconds. It will be good to make a hard copy of the result so you may be able to review it thoroughly. Credit scoring should be monitored and done regularly at twice a year.

There are three existing Credit Bureaus doing credit score: Equifax, Experian, and Trans Union. You may want to call them. Send them a mail or fax mail to get your credit score.  They will definitely assist you with your queries once you contact them.

As always, the objective is to get an accurate representation of your credit score. A good credit standing will always be a manifestation of a person who has good financial management and better income capability. Should there be any errors in your credit score, you may dispute the error as this affects your Credit Report. It should be noted that this comprises your credit history and errors such as this would affect your other activities. Raise a dispute or lodge a complaint so that an investigation will be done to rectify your rating. The three Credit Bureaus mentioned above will surely assist you in getting your credit score for free either online or offline.