The Benefits of Having A 3 Credit Report

To whom do you owe money to?  Be wary about having lots of unsettled obligations – one day these may just catch up on you through an ugly and nasty impression about you, on a 3 credit report!

There are three major credit reporting agencies: Experian, Equifax, and TransUnion, and each of them has its own information about your credit.  To get a good credit report, you have to use all 3.  Fortunately, you can get a 3 credit report for about $24, and this will tell you all you need to know about your credit.

A 3 credit report can be useful for a variety of reasons:

First,  many institutions need to know your 3 credit report before they will approve any loan for you.  Knowing your credit record can give you a heads up on your chances of receiving all kinds of credit services. For example, a home loan will not be given if you have a bad credit score, and neither will insurance, a credit card with a low apr, or sometimes,  even a lease on a house or car. So.  knowing your 3 credit report can be a short cut to save you time applying for services which you won't receive, anyway because of a bad credit score.

Second, if someone has been defrauding you or stealing your identity, your 3 credit report score can show you. For example, someone has been getting accounts in your name and not telling you or paying for them, they will show up on your 3 credit reports as a bad score against you.  You can then take appropriate legal action against the crook; with the bad credit rating removed from your record.

Getting the bad fraud charges off your 3 credit report score can be a major hassle. Once, my mom had serious charges on her 3 credit report because someone was filling up his cell phone, in Detroit, using my Mom’s name.  The company would not believe it was not her, even though it was a different residence listed in there! To get them to believe it, she had to produce several pieces of identity and supporting mails, as well as her home title, to show where she was living. They would not believe that the address was what she said it was, until she showed them lots of proof.  What a hassle.

Is a bad credit score, immutable?

Definitely not.  There are many ways you can improve your credit score. One of them is to own credit cards and regularly pay off your payments to show that you are reliable and can be trusted with credit. If you regularly pay off your balance, and are on time with gas, phone, electric, and utility bills, this too can help.

Exert effort to keep your credit good, this will serve you better in the long run.  It means you can qualify for better interest rates, bigger lines of credit, and all kinds of other financial benefits that you wouldn't have otherwise. Really, it's never easy but you've got nothing to lose, if you try harder – you have everything to gain, instead.