The Three Credit Reporting Agencies
How much do you know about your credit score? When identity theft is so high, and credit scores are everything, it’s important to know exactly where you stand with your credit rating. You can get an annual report from any of the three major Credit Reporting Agencies for free. This will tell you whether or not you need to work on your credit, or if you’re already in good standing.
The three major bureaus are Experian, Equifax, and TransUnion. These companies keep track of everything we as consumers do. They know when we miss a payment on a credit card bill. They know when we purchase a major appliance. And they know when we apply for a home or student loan. It’s because of these bureaus that we have the ability to do such things.
These companies also share this information with your creditors. When you go in to apply for a loan, your banker will take this information to determine whether or not you qualify. If you’ve kept your credit rating up above the 650 mark, there shouldn’t be any trouble. If your score is lower than 620, you could still get your loan, but you could end up paying high interest rates.
When it comes to your personal credit rating, there is no reason why you should be left in the dark. When you take the time to get your score from any of the major Credit Reporting Agencies, you’ll know exactly what you need in order to obtain that loan. It could also help make sure you don’t end up paying overly high interest rates. It might even help you determine if someone else has been using your name to obtain credit. And that’s something we all need to know.
Tags: annual report, credit rating, Credit Reporting Agencies, credit score, Equifax, Experian, identity theft, personal credit rating, TransUnion