Should I Get a 3-in-1 Credit Report? One of the best ways to protect your credit score from being damaged by inaccurate information or unauthorized activity - which may indicate identity theft or credit fraud - is to check your credit report at least once a year. Three credit reporting agencies; three different credit reportsEach of the three credit bureaus - Equifax, TransUnion, and Experian - generate credit reports and scores based on information they gather independently, producing unique reports based on their own criteria. This makes it impossible to get a comprehensive picture of your credit history unless you look at all three credit reports. If you request a report from just one of these bureaus, you will be seeing only one-third of the information that lenders, landlords, and employers see when they check your credit. What is a 3-in-1 credit report?A 3-in-1 credit report includes each individual report from Equifax, TransUnion, and Experian. The most obvious benefit of a 3-in-1 report is the convenience of comparing your entire credit history from each credit bureau at a glance, instead of having to shuffle through three separate reports. Check for inaccuracies by requesting a 3-in-1 credit reportIt is estimated that nearly 25 percent of the information contained in credit reports may be so seriously inaccurate as to cause denied credit application. This illustrates the importance of keeping a close eye on your report. Since identity theft and credit fraud may appear on your credit report in the form of wrong addresses, unfamiliar credit card or loan accounts, or questionable inquiries into your account, checking the information from all three credit bureaus is imperative. Your 3-in-1 credit report will include:
Each credit bureau, as well as many other companies, offer 3-in-1 credit reports to consumers for a fee. A quick search online will bring up ample information to get you started. |
Tuesday, January 06, 2009
