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Merged Credit Report

By: EconomyWatch Date: 26 August 2009

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An individual is entitled to receive a free copy of his credit report from each of the three major credit bureaus, Equifax, Experian and TransUnion. Even when the findings of all three credit reports are largely the same, variations are likely to be there. This is because the credit bureaus do not share information with one another. This, in turn, leads to disparities in credit report information, resulting in inaccurate credit scores.

A merged credit report combines information from all three credit bureaus into a single report. This helps to get a more comprehensive analysis of your credit information.

Merged Credit Report: Advantages

It is advisable to acquire a merged credit report, as it helps to:

· Dispute your case successfully to bureaus: Assessing the merged credit reports helps you to find deviations and dispute them with the relevant credit bureau(s) better.

· Communicate your case to lenders more effectively: A creditor may not necessarily review all three credit reports. Evaluating the merged credit report will help you assess which report(s) has been assessed by the creditor. This helps to explain your credit worthiness better and possibly acquire a better interest rate.

· Streamline verification process: A merged credit report enables you to check your credit information from all three major credit reports simultaneously. This helps in locating and correcting errors faster and thus, aids in maintaining data integrity.

· Save time and money: A merged credit report enables to eliminate the time and costs associated with acquiring duplicate credit report copies.

Merged Credit Report: Components

A merged credit report also contains the following information, besides your credit details:

Identification information, such as full name, date of birth, social security number, addresses information and employment details.
Public record information: This includes state/national court reports on tax liens, bankruptcy and other such monetary judgments.
Recent inquiries: This implies the details of creditors and other parties who obtained your credit report copies during the past year, which could be extended to two years for employment purposes.

A merged credit report can be acquired online, from various resources. Also, you need not necessarily purchase a merged credit report of all three bureaus. You can instead, opt for a bi-merged credit report. Another alternative is to acquire free copies of all three credit reports from annualcreditreport.com simultaneously.