Saturday July 29, 2017

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Credit Reporting
Posted by CreditLearningCenter.com

The credit reporting agencies, or credit bureaus, play an important role in our finances. Experian, TransUnion, Equifax, and several other minor credit bureaus maintain extensive credit files on virtually all U.S. consumers who have ever utilized credit. The credit histories, or credit habits that you have demonstrate, determines the credit score that you are assigned by the credit reporting agencies.

The higher the credit score, the better chance you have of getting the best rates on a new car, home loan or refi, insurance rates, or even credit cards.

Bottom line: Over the course of a lifetime, your credit score can cost you or save you tens of thousands of dollars or much more. For this reason, credit reporting or credit scoring is serious business.

Anytime individual consumer information is reported to credit bureaus by creditors, consumers should check to make sure their credit reporting is accurate. With all of the vast amounts of information that the credit reporting agencies have to deal with, there will be inaccurate information, and it is up to you to make sure your credit is accurate so you get the credit you are entitled to.

The good news: You now have a fast and easy way to check your credit report and score. What’s more, if you find information that you don’t’ believe to be correct, you can contact the credit bureaus immediately to file a free online dispute form.

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