Monthly Archives: May, 2012

Obtaining Free 3 Credit Reports

There are a lot of people who have credit cards or love the idea of having credit cards. They think that it is so cool to have one since all you have to do is let it be swiped, and you could buy everything that you want. For responsible credit card users, they have a rue to watch out of their expenses and other financial responsibilities by obtaining 3 credit scores, whether obtaining it one by one from leading credit report institutions or from a certain credit report agency that can gather credit reports from 3 credit bureaus. There are some credit report agencies that promise to give credit reports, which are free of charge.  But at the end, some people would find a charge on their credit cards because of what they think as free credit reports.

There are also some internet credit report companies that advertise free credit reports, but eventually leave a charge on the credit card of the person who availed it. If that is the case, it is important to thoroughly check the credit report agency first; especially those who promise free credit reports.

If you are an owner of a credit card, you have to be a watch dog when it comes to your credit rating. Usually, those who have credit cards prefer to have 3 credit reports from 3 leading credit report agencies. There are three known companies when it comes to giving credit reports; these are Trans Union, Experian, and Equifax.

They are authorized to give credit reports and majority of the people with credit cards run to them whenever they want to know their credit standing. Having 3 credit reports is a good move since you have the chance to compare your ratings coming from 3 agencies, and you will be able to know the amount that you have to increase in each report.


The Importance of Having 3 Credit Scores

Credit score is considered to be one of the most important aspects of life right now. Loaning and other things that have something to do with finance depend on the credit scores of the people. In other words, credit score is the representation of the financial condition of a person. When it comes to insurance or loaning purposes, there are a lot of companies that are really strict when it comes to credit scores. Therefore, it is crucial for people to take good care of their credit scores. For some lenders or banks, the credit score is the window to see the real personality of the person. Here, they can ascertain if the person is responsible enough to handle financial obligations.

That is the main reason why the majority of companies ask for credit reports before they offer their services. This will be their basis, whether to have a new hire or not. If that is the case, it is important to have 3 credit reports. These credit scores will come from 3 major credit bureaus. There are actually three leading credit report agencies in the United States of America. These are Equifax, which covers east coast, Trans Union, which takes care of the west coast, and Experian for the Midwest.

In some credit report institutions, they only check the credit score for a particular region, depending on the region where the person belongs. However, these 3 credit report bureaus check all major creditors. Among these major creditors are mortgage banks, dealerships and credit-card companies.

What makes 3 credit scores important is that majority of banks and leading lending or credit companies uses the middle score of the 3 credit scores as their barometer to ascertain if you are credit worthy or not. It means that if you have a high score in the first credit bureau, and you have low scores on the other two, companies are more likely to select the second or the lowest score. That is the reason why it is important for you to know your credit score very well and be a watch dog.