Vianey M asked:


Without having to do it online (I don’t want to give credit card info).
Main credit bureaus: Experian, Equifax, Trans Union.

Leslie

Cathy Taylor asked:


So you ordered a copy of your credit report to check for inaccuracies and get the most from your credit score. Now how do you read it? Your credit report is read and used by any number of people you deal with on a daily basis, from your landlord to your employer to a potential lender. Fortunately, it has gotten easier to order a copy of your report, but it’s not so easy to understand what all those abbreviations and numbers mean once you’ve got it.

If you haven’t ordered your credit report yet, you will soon be entitled to a free copy from each of the three major credit bureaus, Equifax, Experian, and TransUnion. Some states can already take advantage of this new policy, but people living in eastern states will have to wait until September of 2005. Order your free yearly copies from all three agencies and check for the availability of the annual reporting program in your area at the same website: www.annualcreditreport.com . Each report will contain different information because retailers and creditors only report to the agency in their area or with whom they have an agreement.

Once you have your credit report in your hands, you will see that it is divided into four main sections:

• Consumer information

• Account histories

• Public records

• Inquiries

Double check the accuracy of your identifying information. This will include your name, address, phone number, previous addresses, date of birth, and Social Security number (SSN).

Next, for each account history, or trade line, you will see the following information:

• Date you opened the account

• Type of credit account (either installment, such as a car loan or mortgage, or revolving, such as a credit card)

• Name(s) on the account

• Total loan amount, credit limit, or highest card balance

• Amount you currently owe

• Amount of your monthly payment

• Account status (either open, closed, inactive, paid, or other)

• How promptly you have paid on the account

Credit agencies vary as to how they word various sections of the report and should provide you with a guide to reading their versions. One agency might report in the last column of an account history that you paid “on time” or “30 days late.” Another agency might use a numeric code to rate how well you paid off a debt. R1 is the code used for an excellent repayment history on a revolving charge account. I1 is the code used for an excellent repayment history on an installment account. Obviously, the higher the number next to either the R or I, the lower your repayment history is rated. So an R4 would indicate a history of late payments.

The public records section will include any tax liens, bankruptcies, judgments, or other financial-related legal matters. Depending on the type of action taken, these damaging records may stay on your credit report for up to 7 to 10 years.

The last section lists the inquiries made on your credit. Hard inquiries are those requests to pull your credit when you apply for such things as loans or lines of credit for services. Soft inquiries result when companies sending out promotional items to pre-qualified individuals check your history or when your current creditors check your payment status. The soft inquiries only show up on the report that you order, not on reports pulled by lenders.

While too many inquiries in a short period of time can signal a red flag to a lender, most credit scoring models are least affected by this portion of your report.

Check your report for any errors and report them immediately in writing. If you need more information about how to reach the three main credit bureaus, please go to www.apscreen.com.

Don’t forget that the credit agency providing your report is also a great source of information on not only reading your credit report, but raising your credit score.



Kansieo.com

Sandra Stammberger asked:


An annual credit report contains information regarding your loans and repayment history. It also contains information about your employment and registered residential address. Any names that you have used in the past will be included in this annual credit report, as well as any loans you applied for and been denied. Most importantly, your annual credit report will contain your social security number and beacon credit score. Lenders, potential employers and property owners all look at this report. Identity thieves also prey on the personal information in your annual credit report to defraud credit card companies, banks, loan companies and many other businesses.

To obtain an annual credit report is very simple. All three major credit reporting agencies allow every individual consumer one free annual credit report per year. Equifax, Experian, and Trans Union have combined a single website for this purpose and with access to an online computer you can easily navigate your way to a free annual credit report.

Equifax, Experian and Trans Union will also honor written requests for an annual credit report as well as telephone requests. The waiting times for receiving your annual credit report using these methods are as short as one week and as long as six weeks. Online credit services are extremely fast and also appeal to some consumers by offering incentives such as a free one-time annual credit report for issuing monthly or quarterly reports to you for a nominal fee. Fees and services vary among these businesses, and it is worth comparing them, and perhaps reading the reviews on a number of consumer forums.

Whichever method you decide suits your needs, the benefits are limitless. Knowledge is very important in respect to your annual credit report. When applying to meet any of your financial goals, such as freeing yourself from debt, it is pertinent to understand your credit score and that you correct any mistakes in the information it contains. Also organizing your finances and updating employment, phone numbers and addresses can be crucial to help prevent identity theft.

Checking your annual credit report is your key to a healthy and secure future for yourself and your family. Each agency or service attaches a detailed instruction sheet or page explaining exactly how to read and understand your annual credit report.



Kansieo.com

Sophie Wilson asked:


What is a credit report? A credit report contains all the financial details of a borrower along with his personal details. It includes the detail account of debts taken, defaults and unpaid dues etc. in short it reflects the credit worthiness and financial soundness of a borrower. It is considered as a reliable and acceptable source. Also creditors decide terms and conditions on the basis of this credit report.

Transunion, Equifax and Experian are three credit agencies that issue credit reports. It is quite possible that information provided by these agencies will differ from one another. To make it transparent and free from errors 3 in 1 credit report is prepared.

This report plays an important role in approval of your loan amount. As before approving your loan application this report is analyzed and taken into consideration. And on the basis of the credit scores your application is approved or rejected by the creditors.

The positive aspect of this report is that it shows if borrower falters payments. All the records and credit like defaults, late payments, missed payments, arrears; CCJs and IVA are incorporated in the 3 in 1 credit report. Such defaults show up negative in your credit report and affect it. You can compare all the three reports and check for the missing information. This will enable you to keep up your records good. On the basis of your credit history and records you are categorized as a good or bad creditor.

You can easily apply for 3 in 1 credit report online and know your financial standing too. No matter where you are you can easily register by filling up a simple online form and get it for free. There are various companies that provide you with credit report but before applying do check the credibility of the company well.



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Court Tuttle asked:


Though many of us may have a pretty good idea of what the credit system is as a whole, the complex details of it are sometimes hard to understand. There are several important aspects of credit that people who have credit debt do not even understand fully. It is important to know and understand what rules we are playing by and who decides what the rules are in the credit world.

One of the bigger questions that may people may ask is, “Who decides what is on your credit report, and who calculates your credit score?” Honestly, you’re the one who controls what goes on your credit report, and you determine your credit score by the way in which you spend the money you borrow, how and when you pay it back, and the amount of time it takes you to pay it takes you to pay it back. But still, who is responsible for actually calculating your credit score and documenting what goes on your credit report, and how do you know that they are doing it right?

The people who do all of the updating of your credit reports and credit scores are members of a credit reporting agency. A credit reporting agency is basically another word for credit bureau, which may be a little bit more familiar term to credit users. But what ARE credit reporting agencies/bureaus, what do they do, and how do they affect the credit carriers in our world today?

The three main credit reporting agencies are Equifax, Experian, and TransUnion. These are the three that are most reliable when you want to get a copy of your credit report safely, without risk of identity theft or other forms of fraud. They are the ones who are best to call when you have a complaint about your credit report, and they are the ones who can most likely fix it, based on how well you prove your argument.

The credit reporting agencies are given “reports” of the way you manage your credit from several different sources. Whomever you are borrowing money from on credit, like a bank or a credit card company, probably “tells” on you periodically to the credit reporting agencies, so that they can determine your credit worthiness based on factors like how close you come to reaching your credit limit, how many late payments you have, and how much debt you are in at the present time. This can either be a bad thing or it can be an advantage to you, depending on how well you have managed the credit lines that are currently open to you.

Recently, citizens of the United States who have credit have gained the right of getting one free credit report per year from each of the major credit reporting agencies. These credit reporting agencies are each obligated to send you a free credit report once a year, but only if you ask for one by requesting online, over the phone, or through the mail. This means that you can receive three credit reports for free each year altogether, if you request one from each agency individually.



Alvin

Zongy asked:


This is inregard to going to the Internet using the web site www.annual credit report.com .to get one’s free credit report from the three main credit report companies ” Experian ”
. ” Equifax” , and ” Transunion ” (sp).. Although by a new law , one can get a free credit report ” one time ” , is there a ” gimmick ” whereby you are inviting all kinds of spam people to bombard you with sales deals , or worse , requiring you to make purchases ?
Appreciate feedback !

Darrell