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Order Credit Report

By: EconomyWatch Date: 26 August 2009

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Obtaining credit necessitates a very important step, which is why individuals order credit report. It is on the basis of this credit report that one will:

Acquire loans on low or rate of interest
Apply for credit cards
Obtain job opportunities, and
Get rental benefits

This is because a credit report is a document which summarizes an individual’s financial reliability. It is the compilation of one’s financial obligations such as loans, debts and credit cards. It also registers the consumer’s payment history and at times, even the credit score which is a proof of one’s credit performance. Maintaining a good credit report is vital for any step one takes in the financial world. For this purpose, one must order credit report at least three times annually.

Order Credit Report: General Information

Before you order your credit report, remember the few points listed below:

Three government agencies – Equifax, TransUnion, and Experian provide genuine credit reports. Although they are the best and most reliable agencies, errors can occur due to erratic and careless reporting from creditors. It is advisable to order for credit reports from all the three bureaus at the same time. In this way, you can compare and check inaccuracies and miscalculations.

Credit report Information – Your credit report will comprise information that has been gathered about you over a long period of time. It will contain your

name:
address
social security number
jobs you have reported to companies to which you have applied for credit.

Credit Score – Credit score is crucial in verifying your credit worth. Credit scoring method was invented by Bill Fair and Earl Isaac in 1956 which is popularly known as FICO (Fair Isaac Corporation) scores. It was supposed to evaluate the outcome of lending money to any individual.

A credit score is decided through your