Basic Facts for a Credit Bureau Report
Contributed by Melanie Vannuys
What Information Can Be Found On My Credit Bureau Report?
If you're planning to obtain a copy of your credit bureau report, there are a few things you should know. First of all, every American consumer is entitled to one free copy per year from each of the three credit bureaus: Equifax, TransUnion and Experian. Keeping track of your credit report is a key step in protecting one of your most valuable assets - your good credit rating.
Since it is within your rights to obtain these credit report copies, you should write to each of the three bureaus and tell them you'd like a copy of your credit report. You will need to supply them with your name, address, date of birth and social security number for starters. To maintain your privacy and security, the credit bureaus will likely require you submit your request in writing so they have it on file.
Each of the three credit bureaus may have different information about you on your credit file. This is why when you first begin to check your credit, you will want to obtain a copy of your report from all three bureaus. This way you can compare and handle disputes if necessary.
What Do I Do About Incorrect Information On My Credit Bureau Report?
According to statistics, 70% of credit reports contain incorrect information. Sadly, this is due to the fact that consumers don't take the time to check their credit report until they have been turned down for a car loan or a mortgage. By the time you discover there are errors on your report, you had better get ready for the long haul. The good news is though, the Fair Credit Reporting Act requires the credit bureaus to fix the erroneous information.
