Credit Scores

piggybank Credit ScoresYour Credit Scores. Understanding Credit Scores and the factors that go into determining your credit report score is the first step to securing your financial health. A poor credit score will cost you thousands of dollars in borrowing fees and expenses, and will cause you to get turned down for a credit card or loan. Your credit rating may even cost you a job, as many employers check your credit report as a condition of employment.

The credit score is determined by a number of factors which assess how you are as a credit risk. The primary factor in the scoring algorithm is your bill-paying history. Even a couple of late payments will negatively affect your credit score report.

Next, the credit scoring companies look at your credit utilization ratio, or your outstanding debt as a percentage of all credit available to you. Many personal financial experts recommend that you keep open old credit cards (assuming they don’t charge an annual service fee), so that you can keep those credit lines available and boost your overall borrowing power.

The credit report bureaus will also look at the number of “hard inquiries” on your credit report. The idea is that many credit applications over a short period of time may indicate some pressing need for money, rendering the consumer, at least in the eyes of the agencies, a greater lending risk. It should be noted that only “hard inquiries” count negatively against your credit score. “Soft inquiries” such as checking your credit report or score online, have no effect on your credit score.

Another factor used to rate your credit score includes the length of your credit history. Under this particular metric, you are rewarded for getting a credit card at an early age (assuming you have paid the bills on time). Many financial advisers recommend that you help your child obtain a charge card while in college, so he or she can get a head start on establishing a credit track record. Of course, the parent must determine that the child is sufficiently responsible to have a credit card.

Other factors that go into the calculation of your credit score include whether you have ever filed for bankruptcy or a foreclosure (bankruptcy has a devastating effect on your credit rating) and the variety of credit sources in your credit profile (a mix of credit cards, a car loan and a mortgage, is better than having only one type of credit).

Credit Scores are issued by the three credit reporting bureaus — Experian, Equifax and TransUnion. When you submit a loan application or apply for a credit card, the potential lender will request your credit profile from one of these three credit score agencies. Unfortunately, the credit report information used by one credit reporting agency in determining your credit score may not be reflected in the information used by the others. For example, you may have refinanced a mortgage or paid off a credit card balance. Your TransUnion and Equifax reports may correctly show the old mortgage as paid off and the credit card as up-to-date, while the Experian report may show the debts as still outstanding. The result will be that the Experian credit score in this example will be substantially lower than the other two scores. If the potential lender in this case happens to order your credit score report from Experian, you may be rejected or have to pay more for the loan.

So, it is important that when you review your credit score or report, you make sure that you are looking at your credit information issued by all three credit reporting bureaus. The triple credit score, also known as the 3-in-1 credit score or 3-bureau credit score, shows you your Credit Scores and report information as issued by all three credit reporting companies.

Many consumers are pleased with the Free Triple Credit Score provided by CreditScore360, which includes all three credit scores issued by Experian, TransUnion and Equifax. Here is a link to their site:

Get your Free Credit Scores from all 3 Bureaus Credit Scores

Ensure that you will have access to the best credit terms by staying on top of your Credit Scores.

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FTC testifies before Congress on Credit Report Errors





ftc credit report error testimony 150x150 FTC testifies before Congress on Credit Report ErrorsFTC Testimony on Errors in Credit Reports – The FTC announced on May 7, 2013 that it had testified before a U.S. Senate Commerce subcommittee regarding a recent FTC report which examined the accuracy of credit report information. FTC Testifies on Credit Reporting Accuracy Study, FCRA Enforcement, Credit Education

Maneesha Mithal, Associate Director of the FTC’s Division of Privacy and Identity Protection told the Subcommittee on Consumer Protection, Product Safety, and Insurance that credit report errors can cause consumers to be denied credit, or pay a higher price for loans.

Ms. Mithal explained to the subcommittee: “The Commission recognizes the importance of accurate and complete credit reports, both to businesses that use them to make decisions and to the consumers who are affected by those decisions.”

The December 2012 FTC study found that 26% of surveyed consumers reported a material error in one or more of their three credit reports. Half of the survey participants had their credit score revised after filing the dispute with the applicable credit bureau.

The testimony cited enforcement of the Fair Credit Reporting Act (FCRA) as a high priority for the FTC. Over the last ten years, the FTC has brought over 30 actions under the FCRA.

The testimony highlights the importance of reviewing your credit report to check for potential errors in your credit history.

Many consumers are pleased with the credit report and score report provided by Equifax, which includes all three credit scores issued by Experian, TransUnion and Equifax.

Here is a link to their site:

“Get Equifax 3 Bureau Credit Report and Scores Now!” FTC testifies before Congress on Credit Report Errors


Here are more pages that might be of interest to you:

About Your Credit Score
Your Credit Report and Score

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Your Credit Score

money32 Your Credit ScoreYour Credit Score – Understanding your credit score is the key to ensuring your financial health. Maintaining a good credit score — that is, personal credit scores of 720 or better — will give you access to the best financial products and borrowing rates.

Credit Report Scores range from 349 to 849. Banks and other lenders use the credit report and score to indicate how likely you are to pay your bills on time. Generally, those with higher a credit score are considered to be a better credit risk.

You can check your credit score free at a number of online sites. You will want to be sure that you are getting a Triple Credit Score, or 3 in 1 Credit Score. Only the three bureau credit score or Triple Credit Report provides you with an online breakdown of your credit rating as issued by Experian, Equifax and TransUnion — the three national credit bureaus. Credit reports issued by only one of the three credit score companies may omit important information contained in the information issued by the other two agencies, which may negatively impact your ability to get a loan. So, when you check your credit score, make sure you are checking your Triple Credit Score.

news Your Credit Score

Updated : Thu, 24 Apr 2014 23:17:59 GMT

How to check and maintain your credit score – The Birmingham News – al.com

 Your Credit Score
How to check and maintain your credit score
The Birmingham News – al.com
Credit.JPG (iStockphoto). MOBILE, Alabama ? Whether you're trying to repair your credit or simply want to keep it in good standing, these simple tips can impact your credit score in long-lasting, positive ways. First and foremost, Navigator Credit

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Publ.Date : Thu, 24 Apr 2014 21:29:49 GMT

Four tips for improving your credit score – al.com

 Your Credit Score
Four tips for improving your credit score
al.com
MOBILE, Alabama ? Now that you know what information is used to calculate your credit score, how lenders use the score and what you're doing that can bring that number down, let's talk about things you can do improve your score. Kathy Scarborough
Credit score scoop: How not to fall prey to predatory lending practicesThe Birmingham News – al.com

all 2 news articles »

Publ.Date : Wed, 23 Apr 2014 15:06:28 GMT

The 4 Laziest Ways to Improve Your Credit – Huffington Post

 Your Credit Score
Siliconindia.com
 Your Credit Score
The 4 Laziest Ways to Improve Your Credit
Huffington Post
There are people out there who expend a lot of energy in the quest for a totally meaningless perfect credit score, which I've written about elsewhere. Most people know it's important to have good credit, but they don't want to spend too much time
Your Money: Credit score not perfect, but still worth bragging about at The Star-Ledger
Answers to your 10 most pressing credit card questionsMSN Money
CommentaryYour credit score impacts your lifeInsurance News Net (press release)
Siliconindia.com -SYS-CON Media (press release)
all 18 news articles »

Publ.Date : Thu, 24 Apr 2014 12:39:23 GMT

3 Credit Myths to Stop Believing Today – U.S. News & World Report (blog)

 Your Credit Score
3 Credit Myths to Stop Believing Today
U.S. News & World Report (blog)
First of all, your credit score is based on your credit report, so if the three major credit bureaus (Experian, Equifax and TransUnion) have differing information about you, your scores can vary. There are also dozens of credit scoring models that can
The do's and don'ts, how to prime your credit score before you house huntMilwaukee Journal Sentinel
Busted: 3 Common Home Buying MythsFox Business

all 3 news articles »

Publ.Date : Thu, 24 Apr 2014 12:47:28 GMT

9 Ways To Destroy Your Credit Score – Business Insider

 Your Credit Score
Business Insider
 Your Credit Score
9 Ways To Destroy Your Credit Score
Business Insider
There's one thing all of us know about our credit score: We don't want it to go down. Since lenders use these three digits to evaluate our creditworthiness and determine our interest rates, losing points on our score could cost us thousands of dollars

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Publ.Date : Wed, 23 Apr 2014 14:37:17 GMT

Stop doing these things that are hurting your credit score – al.com

 Your Credit Score
Stop doing these things that are hurting your credit score
al.com
Kathy Scarborough, chief communications officer with Navigator Credit Union in Mobile, said neither voluntary inquiries made by you nor involuntary inquiries made by creditors without your authorization affect your score. So, those relentless pre

Publ.Date : Tue, 22 Apr 2014 17:35:21 GMT

What\’s your IQ on credit scores? – Standard-Examiner

 Your Credit Score
Credit.com News (blog)
 Your Credit Score
What's your IQ on credit scores?
Standard-Examiner
"We want to buy a home but my friends are telling me that my husband's credit score is too low to get a loan." She told me that her husband's score was in the low 600s. There's lots of confusion "out there" on credit scores. Take the following true
5 ways to jump-start your credit scoreIdaho State Journal
What Your Credit Reports Won't Tell YouCredit.com News (blog)

all 7 news articles »

Publ.Date : Tue, 22 Apr 2014 23:16:57 GMT

Demystifying Credit Scores – Huffington Post

 Your Credit Score
Demystifying Credit Scores
Huffington Post
One of the few positive outcomes of the 2008 financial crisis was that it helped shine a light on the importance of understanding and staying on top of your credit profile. Along with that heightened visibility, however, has come a great deal of

Publ.Date : Wed, 23 Apr 2014 18:12:54 GMT

Don\’t Panic About Not Having a Credit Score – Fox Business

 Your Credit Score
Deseret News
 Your Credit Score
Don't Panic About Not Having a Credit Score
Fox Business
I'm a landlord, and if I had my choice between a tenant with no debt and no credit score and someone with a high credit score but lots of debt, I'd take the one who has no debt in a heartbeat. Why? Because that's the one who is most likely to pay
Dave Ramsey says: Being debt-free beats having a high credit scoreDeseret News

all 3 news articles »

Publ.Date : Tue, 22 Apr 2014 15:10:04 GMT

Here is more of the latest credit score news from around the net. Come back daily for the latest personal finance news.

rsslogo Your Credit Score

Updated :

9 Ways To Destroy Your Credit Score
There’s one thing all of us know about our credit score: We don’t want it to go down. Since lenders use these three digits to evaluate our creditworthiness and determine our interest rates, losing points on our score could cost us thousands of dollars …
Publ.Date : Wed, 23 Apr 2014 12:11:00 GMT

The do\’s and don\’ts, how to prime your credit score before you house hunt
(BPT) – Spring is traditionally the busiest home-buying season of the year. And this year, with the housing market and economy finally starting to show signs of resurgence, many consumers are looking to buy. But although location, school district and the …
Publ.Date : Thu, 24 Apr 2014 13:10:00 GMT

5 Weird Ways You Can Hurt Your Credit Score
This article was written by Jack Ryder of Simple. Thrifty. Living. We all pretty much know what hurts our credit score, right? Late payments, charging too much on our credit cards, not having enough credit. Those are the most common mistakes that people …
Publ.Date : Mon, 21 Apr 2014 17:04:00 GMT

7 Weeks To 700: Legal Credit Repair That Will Change Your Life
Click Here for the 7 weeks to 700: Improve Your Credit Score with Legal Instant Credit Repair That Will Change Your Life! Your credit score is one of the most … Get the most from life! Get a free credit repair consultation from … and CHANGE.
Publ.Date : Thu, 24 Apr 2014 13:15:00 GMT

Stop doing these things that are hurting your credit score
MOBILE, Alabama ? As we delve a little deeper into what?s what when it comes to credit scores, it?s time to talk about the missteps that can hurt ? and even haunt ? you. But first, it helps to understand credit inquiries and which ones do and do …
Publ.Date : Tue, 22 Apr 2014 13:32:00 GMT

BBB Tips: How to Improve Your Credit Score
Whether you like it or not, the ugly truth is your credit report and credit score have a great deal of power. They serve as key tools that measure the financial risk you pose to lenders. The higher the score, the lower the risk. Credit scores and reports …
Publ.Date : Mon, 21 Apr 2014 16:32:00 GMT

7 credit myths that don\’t really hurt your scores
One of the most pervasive credit myths, closing an old credit card account will not lower your credit score due to a reduced credit history. Closed accounts in good standing actually stay on your credit report longer than negative entries, thus maintaining …
Publ.Date : Wed, 23 Apr 2014 19:30:00 GMT

9 Ways People Harm Their Credit Card Score
BANGALORE: One of the most important factors of your financial life is your credit score. Most of the financial institutions check the credit card scores before providing their customers with credit cards or loans. Some service providers use this to …
Publ.Date : Thu, 24 Apr 2014 06:06:00 GMT

Top 5 Fastest Ways to Rebuild Your Credit Score
NEW YORK (MainStreet) ? Once your credit takes a hit, bringing up those three little numbers in your credit score may seem like an impossibility, but with a dedicated plan of action you can get back on the road to 850 in no time. Our experts weigh in on …
Publ.Date : Fri, 18 Apr 2014 01:00:00 GMT

Triple Credit Score
Credit Score Range

The first step to ensure your financial health is to check Your Credit Score.

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Three Credit Scores

money21 Three Credit ScoresExperts recommend that you review your Three Credit Scores to get the most accurate view of your credit profile. By viewing your 3 Bureau Credit Score or 3 Credit Report Score, you will get all three credit scores from all 3 Credit Reporting Agencies. When you apply for a mortgage, refinancing, credit card or auto loan, the bank, charge card issuer of other lender will order your credit score from one of the three credit bureaus – Experian, Equifax and TransUnion. Each credit bureau uses its own credit scoring algorithm to calculate your credit scoring. It is important to review your Three Credit Scores from all 3 credit reporting agencies to get the most accurate view of your credit score.

Here is the latest Triple Credit Score news from around the Web. Come back daily for the latest credit score news.

news Three Credit Scores

Updated : Thu, 24 Apr 2014 23:18:01 GMT

3 Credit Myths to Stop Believing Today – U.S. News & World Report (blog)

 Three Credit Scores
3 Credit Myths to Stop Believing Today
U.S. News & World Report (blog)
First of all, your credit score is based on your credit report, so if the three major credit bureaus (Experian, Equifax and TransUnion) have differing information about you, your scores can vary. There are also dozens of credit scoring models that can
The do's and don'ts, how to prime your credit score before you house huntMilwaukee Journal Sentinel

all 3 news articles »

Publ.Date : Thu, 24 Apr 2014 12:47:28 GMT

What\’s your IQ on credit scores? – Standard-Examiner

 Three Credit Scores
Credit.com News (blog)
 Three Credit Scores
What's your IQ on credit scores?
Standard-Examiner
How much money you have in savings has an effect on your credit score. 2. A poor credit score will stop you from getting a loan. 3. The three credit bureaus (Equifax, Experian, and TransUnion) provide the exact same credit reports and credit scores. 4.
5 ways to jump-start your credit scoreScoopSanDiego.com
What Your Credit Reports Won't Tell YouCredit.com News (blog)

all 7 news articles »

Publ.Date : Tue, 22 Apr 2014 23:16:57 GMT

This Week In Credit Card News–Free Annual Credit Scores, Another Massive … – Forbes

 Three Credit Scores
KERO-TV 23
 Three Credit Scores
This Week In Credit Card News–Free Annual Credit Scores, Another Massive
Forbes
Currently, consumers can see their credit reports from all three credit bureaus for free once a year through AnnualCreditReport.com. But they have to pay to see their credit scores on this site. That would change under the SECURE Act. [LowCards.com].
Bill Mandates Free Credit Scores for EveryoneHealth Care News

all 56 news articles »

Publ.Date : Fri, 18 Apr 2014 19:16:04 GMT

Are you worthy? What you need to know now about credit scores – The Huntsville Times – al.com

 Three Credit Scores
Credit.com News (blog)
 Three Credit Scores
Are you worthy? What you need to know now about credit scores
The Huntsville Times – al.com
Unfair as it might seem that three little numbers generated by faceless formulas and algorithms wield such power over everyday decisions and long-term financial health, understanding your credit score is the only way to stand a chance at having it work
Why Are Credit Scores So Confusing?Credit.com News (blog)
Why You Should Check Your Credit Score Every 3 MonthsBusiness Insider Australia

all 7 news articles »

Publ.Date : Fri, 18 Apr 2014 17:37:06 GMT

Not All Free Credit Scores are Created Equal – Fox Business

 Three Credit Scores
Credit.com News (blog)
 Three Credit Scores
Not All Free Credit Scores are Created Equal
Fox Business
The formula used for the FICO credit score model weighs payment history, amount of debt owed, length of credit history, new credit and types of credit used. Each of the three major credit bureaus (Equifax, Experian and TransUnion) generates a separate …
What Is My Real Credit Score?Credit.com News (blog)
Demystifying Credit ScoresThe Friday Flyer

all 19 news articles »

Publ.Date : Tue, 08 Apr 2014 21:06:20 GMT

6 ways to improve your credit – CNNMoney (press release)

 Three Credit Scores
CNNMoney (press release)
 Three Credit Scores
6 ways to improve your credit
CNNMoney (press release)
The most widely-used credit score is the FICO score, which ranges from 300 to 850. You have three different scores, one associated with each of the three credit agency reports. Borrowers with scores above 750 are generally considered excellent, while …

Publ.Date : Fri, 28 Mar 2014 18:09:58 GMT

Is Your Credit Score Ready for Mortgage Shopping? – DailyFinance

 Three Credit Scores
Is Your Credit Score Ready for Mortgage Shopping?
DailyFinance
Credit Card Score Cassandra Hubbart/AOL Ah, the credit score. This almost-mythical three-digit manifestation of financial responsibility is among the most important numbers in a person's life. Unfortunately, many of us are confused about how credit

Publ.Date : Thu, 03 Apr 2014 10:14:39 GMT

9 Ways To Destroy Your Credit Score – Business Insider Australia

 Three Credit Scores
Business Insider Australia
 Three Credit Scores
9 Ways To Destroy Your Credit Score
Business Insider Australia
Since lenders use these three digits to evaluate our creditworthiness and determine our interest rates, losing points on our score could cost us thousands of dollars ? or even cost us a loan. For that reason, we asked John Ulzheimer, credit expert at …

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Publ.Date : Wed, 23 Apr 2014 15:09:15 GMT

Is Your Credit Score Keeping You From Your Dream Home? – Credit.com News (blog)

 Three Credit Scores
Credit.com News (blog)
 Three Credit Scores
Is Your Credit Score Keeping You From Your Dream Home?
Credit.com News (blog)
But among consumers in the lowest three credit tiers ? which Experian says consists of 64% of Americans who have a credit score ? the average size of mortgages opened in the third quarter of 2013 declined from the previous year. A quick overview of …

Publ.Date : Thu, 24 Apr 2014 04:10:05 GMT

Here is more of the latest credit report and personal finance news:

rsslogo Three Credit Scores

Updated :

How Many Credit Scores Do You Need to Get a Mortgage?
In order to get a mortgage these days, home buyers are typically required to have three credit scores — one scoring model calculated three times based on each of your credit reports at the three major credit bureaus. However, one problem that I see …
Publ.Date : Tue, 11 Feb 2014 00:13:42 GMT

Think you have three credit scores? You may have 50 or more
You probably know you have a credit score, and that score dictates much of your financial future. You might know you have three credit scores, thanks to aggressive advertising from companies that sell access to them. However, those hardly scratch the …
Publ.Date : Tue, 19 Mar 2013 01:10:37 GMT

Why Are There Three Credit Scores?
Generally, when people talk about your credit score, they mean your FICO score, developed by Fair Isaac to be a three-digit representation of the information in your credit report. Using this score, lenders will determine the likelihood of your default on …
Publ.Date : Sun, 18 Jan 2009 16:00:00 GMT

Do You Need 3 Credit Scores to Get a Mortgage?
In order to get a mortgage these days, home buyers are typically required to have three credit scores ? one scoring model calculated three times based on each of your credit reports at the three major credit bureaus. However, one problem that I see …
Publ.Date : Thu, 30 Jan 2014 03:25:37 GMT

Three credit scores no longer needed for mortgage lending
The standard set by the lending industry is that three credit scores are needed for obtaining a mortgage. Reality? That requirement is no longer the benchmark. Securing a mortgage without three credit scores is doable, and here?s how: ? Credit score …
Publ.Date : Thu, 23 Jan 2014 22:49:43 GMT

Clarity Services, Inc. Gives Lenders Three Credit Scores with Clear Bureau Lite
CLEARWATER, Fla., March 5, 2013 /PRNewswire/ — Clarity Services, Inc., the leading real-time credit bureau providing fraud detection and credit risk management solutions for Middle America announces its newest product, Clear Bureau Lite. Clear Bureau …
Publ.Date : Tue, 05 Mar 2013 03:18:00 GMT

How Your Credit Score Can Save (or Cost) You Tons Of Money
From best to worst, these hypothetical homebuyers would pay approximately $1,179, $1,235, or $1,416 on a 30-year mortgage of $250,000, depending on which of the three credit scores they currently have-a difference of almost $300 a month! When buying a car …
Publ.Date : Sun, 09 Feb 2014 10:13:14 GMT

Credit Score Wiz Announces Their Free Credit Score Check Service
Credit Score Wiz is a powerful tool to quickly discover the three credit scores used by all major lenders. They recently announced a new version of their free credit score check service. Dallas, TX February 17, 2014 (FPRC) — A credit score has a profound …
Publ.Date : Mon, 17 Feb 2014 01:42:32 GMT

rsslogo Three Credit Scores

Updated :

Credit Reports Are a Key Part of FHA Approval in 2014
With your credit reports and scores. Much has been written about the importance of credit scores, when it comes to getting approved for a mortgage loan. In short, if this three-digit number is too low, the lender will probably turn you down. FICO credit …
Publ.Date : Thu, 24 Apr 2014 12:10:00 GMT

Bill Mandates Free Credit Scores for Everyone
It gives consumers “access to meaningful credit scores free of charge annually.” This is similar to the service currently offered through AnnualCreditReport.com, where consumers can see their credit reports from all three credit bureaus for free once a year.
Publ.Date : Thu, 17 Apr 2014 01:00:00 GMT

Consumer Financial Protection Bureau Encourages Free Credit Scores
Based on information provided by thousands of providers, more than 200 million Americans have credit scores on file with three major reporting agencies; Equifax, Experian and TransUnion. FICO, created by Fair Isaac Corporation, is the most frequently used …
Publ.Date : Wed, 16 Apr 2014 01:00:00 GMT

The do\’s and don\’ts, how to prime your credit score before you house hunt
because most mortgage lenders will pull all three of your credit reports and credit scores. Consumers are entitled by Federal law to receive a copy of each of their credit reports once every 12 months at www.annualcreditreport.com. * Understand the reasons …
Publ.Date : Thu, 24 Apr 2014 13:10:00 GMT

How to improve credit scores
Mortgage lenders typically get FICO scores for each borrower from all three credit bureaus … and their respective credit scores reflect that reality. What people “deserve” isn’t a factor. How they handle their credit accounts is. Recent columns Also …
Publ.Date : Sun, 20 Apr 2014 11:14:00 GMT

Do You Need 3 Credit Scores to Get a Mortgage?
In order to get a mortgage these days, home buyers are typically required to have three credit scores ? one scoring model calculated three times based on each of your credit reports at the three major credit bureaus. However, one problem that I see …
Publ.Date : Thu, 30 Jan 2014 03:25:37 GMT

How Many Credit Scores Do You Need to Get a Mortgage?
In order to get a mortgage these days, home buyers are typically required to have three credit scores — one scoring model calculated three times based on each of your credit reports at the three major credit bureaus. However, one problem that I see …
Publ.Date : Tue, 11 Feb 2014 00:13:42 GMT

3 Credit Myths to Stop Believing Today
However, the reality is that you actually have many credit scores. This is mainly due to a few reasons. First of all, your credit score is based on your credit report, so if the three major credit bureaus (Experian, Equifax and TransUnion) have differing …
Publ.Date : Thu, 24 Apr 2014 09:32:00 GMT

What\’s your IQ on credit scores?
2. A poor credit score will stop you from getting a loan. 3. The three credit bureaus (Equifax, Experian, and TransUnion) provide the exact same credit reports and credit scores. 4. Your level of education can affect your credit score. 5. The lower your …
Publ.Date : Wed, 23 Apr 2014 00:45:00 GMT

Triple Credit Score

To ensure that you are getting the most accurate picture of your financial health, make sure that when you order your online credit report, you are receiving all Three Credit Scores

Many consumers are pleased with the Free Triple Credit Score provided by CreditScore360, which includes all three credit scores issued by Experian, TransUnion and Equifax. Here is a link to their site:

Get your Free Credit Scores from all 3 Bureaus Three Credit Scores

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Three Credit Bureaus

Three Credit Bureaus

money5 150x150 Three Credit BureausExperian, Equifax and TransUnion are the three major credit bureaus that issue your credit scores. Your credit scores are used by lenders to determine your credit rating (in other words, how you are as a credit risk). Consumers with higher credit scores will generally receive better interest rates, resulting in reduced borrowing costs. A poor credit score will increase the likelihood that the consumer will be rejected for a loan, or have to pay more to borrow money.

Each of the three credit bureaus uses its own algorithm to determine your credit score. Unfortunately, the information reflected in the credit score issued by one credit bureau may not be reflected in the credit score issued by another. The background data and information used by one credit reporting agency in compiling your credit history may be different from the information used by the other bureaus. For example, your Experian and TransUnion reports may show a credit card balance as paid in full, while the Equifax report may reflect the same credit card balance as still outstanding. Accordingly, in this example, your Equifax score would be lower than the scores issued by each of TransUnion and Experian.

So, it is important that when you order your credit report, you make sure you are getting the credit report scores issued by all three credit reporting bureaus. You should look at your 3 credit scores and reports (or 3-in-1 credit report) side by side to get your most complete and accurate credit score profile.

Check your triple credit score and report for inconsistencies, inaccuracies and other issues in your credit history as recorded by each credit bureau, and be sure to fix credit report problems before you are turned down for a mortgage or refinancing, car loan or credit card.

news Three Credit Bureaus

Updated : Thu, 24 Apr 2014 23:18:03 GMT

3 Credit Myths to Stop Believing Today – U.S. News & World Report (blog)

 Three Credit Bureaus
3 Credit Myths to Stop Believing Today
U.S. News & World Report (blog)
First of all, your credit score is based on your credit report, so if the three major credit bureaus (Experian, Equifax and TransUnion) have differing information about you, your scores can vary. There are also dozens of credit scoring models that can
The do's and don'ts, how to prime your credit score before you house huntMilwaukee Journal Sentinel

all 3 news articles »

Publ.Date : Thu, 24 Apr 2014 12:47:28 GMT

Brown introducing bill to help consumers get errors off credit reports: Plain … – The Plain Dealer

 Three Credit Bureaus
Brown introducing bill to help consumers get errors off credit reports: Plain
The Plain Dealer
After much scrutiny by the FTC, CFPB and Congress, the three credit bureaus — Equifax, Experian and TransUnion — changed their error reporting system to allow consumers to upload supporting documentation when they filed disputes. Last September, the …
New bill aims to protect against erroneous credit reportsColumbus Dispatch
New Legislation Aims To Ensure Accurate Credit Reports, Provide Free Credit The Consumerist
Knowledge is power: How the right reporting agency can help youMilwaukee Journal Sentinel

all 21 news articles »

Publ.Date : Wed, 09 Apr 2014 16:32:17 GMT

Action 9: Woman says credit bureaus believed she was dead – WSOC Charlotte

 Three Credit Bureaus
Action 9: Woman says credit bureaus believed she was dead
WSOC Charlotte
According to various websites, banks, credit card companies, the big three credit bureaus, and the Social Security Administration declare at least 1,000 people dead by mistake every month. SSA spokesperson Patti Patterson defends that agency, saying

Publ.Date : Mon, 31 Mar 2014 22:23:28 GMT

What\’s your IQ on credit scores? – Standard-Examiner

 Three Credit Bureaus
Credit.com News (blog)
 Three Credit Bureaus
What's your IQ on credit scores?
Standard-Examiner
How much money you have in savings has an effect on your credit score. 2. A poor credit score will stop you from getting a loan. 3. The three credit bureaus (Equifax, Experian, and TransUnion) provide the exact same credit reports and credit scores. 4.
5 ways to jump-start your credit scoreScoopSanDiego.com
What Your Credit Reports Won't Tell YouCredit.com News (blog)

all 7 news articles »

Publ.Date : Tue, 22 Apr 2014 23:16:57 GMT

Worried about the Target credit monitoring deadline? Don\’t be. But there\’s … – The Plain Dealer

 Three Credit Bureaus
Worried about the Target credit monitoring deadline? Don't be. But there's
The Plain Dealer
Meanwhile, several states are investigating a much more severe breach ? the 2012 theft of up to 200 million Social Security numbers from Court Ventures, a company later purchased by Experian, one of the three credit bureaus. It's a scary world out

and more »

Publ.Date : Mon, 21 Apr 2014 22:10:39 GMT

Not All Free Credit Scores are Created Equal – Fox Business

 Three Credit Bureaus
Credit.com News (blog)
 Three Credit Bureaus
Not All Free Credit Scores are Created Equal
Fox Business
The formula used for the FICO credit score model weighs payment history, amount of debt owed, length of credit history, new credit and types of credit used. Each of the three major credit bureaus (Equifax, Experian and TransUnion) generates a separate …
Demystifying Credit ScoresThe Friday Flyer
What Is My Real Credit Score?Credit.com News (blog)

all 19 news articles »

Publ.Date : Tue, 08 Apr 2014 21:06:20 GMT

9 Steps to Boost Your Credit Before You Buy – Forbes

 Three Credit Bureaus
9 Steps to Boost Your Credit Before You Buy
Forbes
There are a variety of ways to get your report, and you're entitled to a free one from each of the three credit bureaus once a year under the FACT Act; just go to Annual Credit Report website to retrieve it. 2. Mistakes Happen ? Get Them Fixed ? Every

Publ.Date : Wed, 23 Apr 2014 00:14:23 GMT

The Laziest Ways to Improve Your Credit – Credit.com News (blog)

 Three Credit Bureaus
Credit.com News (blog)
 Three Credit Bureaus
The Laziest Ways to Improve Your Credit
Credit.com News (blog)
The age of your credit history accounts for roughly 15% of your overall credit score. In the same way car insurance companies use age to predict how risky it is to insure a driver, the three credit bureaus use the age of your credit as a way to
Are your kids old enough to start building credit?MSN Money

all 18 news articles »

Publ.Date : Thu, 24 Apr 2014 04:36:52 GMT

How To Use A Secured Card To Rebuild Your Credit – Forbes

 Three Credit Bureaus
KERO-TV 23
 Three Credit Bureaus
How To Use A Secured Card To Rebuild Your Credit
Forbes
The best thing about secured credit cards is that, in most cases, the issuer reports your repayment behavior to the three main credit bureaus ? TransUnion, Experian Experian and Equifax. Translated, this means that paying your bill on time and
Bill Mandates Free Credit Scores for EveryoneHealth Care News
The Top Credit Cards for Repairing Credit, Ranked by CreditCardChaser.comSYS-CON Media (press release)
The Best No Overdraft Fee Credit Cards, Ranked by Creditnet.comPR Web (press release)

all 56 news articles »

Publ.Date : Thu, 17 Apr 2014 20:18:49 GMT

Here is more of the latest news on the three credit bureaus and checking your triple bureau credit report:

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Updated :

Registration for free credit monitoring through Target ends today
Some critics say the offer actually provides little in the way of monitoring because Target is only partnering with one of the three credit bureaus. The data breach was the second largest in U.S. history, affecting 70 to 110 million customers. If you?d …
Publ.Date : Wed, 23 Apr 2014 12:55:00 GMT

How To Improve Your Credit The Lazy Way
In the same way car insurance companies use age to predict how risky it is to insure a driver, the three credit bureaus use the age of your credit as a way to determine your likely behaviors. The older your credit history, the more information the bureaus …
Publ.Date : Thu, 24 Apr 2014 12:16:00 GMT

How To Get Your REAL Credit Score ? The One That Lenders See
Why? Well, you may have a car loan or a bank loan that doesn?t report to all three credit bureaus. The creditor may only report to one or two of them. So one will have the information, but the others will not. One of your credit files may have errors in …
Publ.Date : Thu, 24 Apr 2014 14:15:00 GMT

9 Steps to Boost Your Credit Before You Buy
There are a variety of ways to get your report, and you?re entitled to a free one from each of the three credit bureaus once a year under the FACT Act; just go to Annual Credit Report website to retrieve it. 2. Mistakes Happen ? Get Them Fixed …
Publ.Date : Tue, 22 Apr 2014 17:14:00 GMT

Worried about the Target credit monitoring deadline? Don\’t be. But there\’s plenty to be worried about: Plain Dealing
Meanwhile, several states are investigating a much more severe breach ? the 2012 theft of up to 200 million Social Security numbers from Court Ventures, a company later purchased by Experian, one of the three credit bureaus. It’s a scary world out there …
Publ.Date : Mon, 21 Apr 2014 18:00:00 GMT

What\’s your IQ on credit scores?
2. A poor credit score will stop you from getting a loan. 3. The three credit bureaus (Equifax, Experian, and TransUnion) provide the exact same credit reports and credit scores. 4. Your level of education can affect your credit score. 5. The lower your …
Publ.Date : Wed, 23 Apr 2014 00:45:00 GMT

3 Credit Myths to Stop Believing Today
So although you may hear that you should only buy and trust FICO scores, the high correlation among different scoring models proves that free scores (which you’re entitled to receive from the three credit bureaus each year) can actually be useful and …
Publ.Date : Thu, 24 Apr 2014 09:32:00 GMT

How to improve credit scores
They each have their own scores. Mortgage lenders typically get FICO scores for each borrower from all three credit bureaus, for a total of six scores. Lenders look at the middle score for each person and typically base rates and terms on the lower of …
Publ.Date : Sun, 20 Apr 2014 11:14:00 GMT

Why all Three Credit Bureaus Need Your Payment History
For 30 years prior to 2011, my wife and I paid off two mortgages though our local savings bank. Since that bank only reports to one credit bureau, our FICO score is low, even though we never missed a payment. Living in a new large city and trying to get a …
Publ.Date : Thu, 11 Oct 2012 06:09:03 GMT

When you order your credit score, please make sure you are getting your credit scores issued by all Three Credit Bureaus.

Many consumers are pleased with the Free Triple Credit Score provided by CreditScore360, which includes all three credit scores issued by Experian, TransUnion and Equifax. Here is a link to their site:

Get your Free Credit Scores from all 3 Bureaus Three Credit Bureaus

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Triple Credit Score

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Triple Credit Score


A Triple Credit Score is the essential part of a three-in-one credit report or 3-in-1 credit report that provides your credit scores from each of the three credit bureaus – Equifax, Experian and TransUnion.

Why is it important that you check all 3 credit scores and all 3 credit reports from all three credit score companies?  A typical credit report displays your credit information from only one credit reporting agency.

Unfortunately, when you apply for a car loan, look to refinance a mortgage or sign up for a new credit card, lenders may review any one or even all 3 credit bureau reports. For example, the information contained in your credit report score issued by TransUnion may not be reflected in the credit scoring issued by the other agencies.  This may cost you thousands of dollars in loan payments and fees.

So, it it essential that you review your credit scores contained in all three credit reports. The Triple Credit Score allows you to compare, side-by-side, your credit information contained in the credit report and score issued by each credit report bureau, so you can identify and dispute possible errors and inaccuracies, track late payments or judgments, see who has accessed your credit history, and gain an understanding of what factors affect your credit score.  You can also spot early signs of identity theft.  When you order a credit report and score, make sure that you are getting a Triple Credit Score.

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