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Archive for the ‘Credit Report’ Category

A credit report is a list of your payment history and transactions. It shows the payment behavior of a person whether he had been managing his financial transactions well. This report provides everyone with an overview of one’s financial status. It serves as the basis of any lending agency whether a loan can be granted. People normally go for a bank loan, housing loan, or car loan. The credit report is always required to be submitted for verification to assure that the person getting the loan qualifies for it. This is needed as it identifies the financial status of the person getting the loan. A good credit standing will surely be a big plus as it shows the person to have the financial security and maturity to pay for the amortization. Insurance companies rely also on the credit report. People with poor credit standing may pose a higher risk to the company.  Since the credit report contains the credit score, it displays the credit worthiness of the borrower. The higher the credit score, the better it is. The credit report is very important then for every financial transaction. .

The three Credit Bureaus Equifax, Experian, and TransUnion provide each consumer a copy of their Credit Report once every 12 months. These three bureaus can be contacted thru telephone, mail, telefax, and via online. They will provide you with the service needed and your credit report will be delivered for free. One source where one gets a totally free credit report is in the AnnualCreditReport.com. It used to cost somebody $9.50 to get hold of a copy of this.

The process to is easy. First is to login to AnnualCreditReport.com and access the annual credit report online for free. Next step is to dial (877) 322-8228 for verification. Complete the Annual Credit Report Request brochure and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You may get a copy of the brochure from the Federal Trade Commission website. Your credit report shall be delivered for free. Online requests can be done but this involves keying in personal information, which others are not comfortable doing so. For online request, it will be good to print out for a hard copy so you may review it from time to time.

Once you have a copy of your own credit report, it is important to go through it and check for errors. Remember that this document serves as your identification and a representation of your financial status. Should you find any erroneous entry, a complaint should immediately be forwarded to correct it. Be sure to notify the Bureau at the soonest time possible. Gather all the documents to support your claim. This is important as this will be the basis of the Bureau for verification. The document will be checked with the agency or financial institution concerned. Once the document has been validated and an item has been found to be in error, a correction of entry shall be done. You may ask the Bureau to delete or remove the item from the list for a better presentation of the credit report. A request for an updated report could be done.

Credit Reports speak well of your cash management status and its impact on your financial endeavors. Just always bear in mind that you can get a totally free credit report, so try and get one!

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.