Credit Report Agencies

When lenders refer to your credit report, it’s important to know from which agency they are viewing the credit report. There are three primary agencies that are listed below. Each of these agencies maintain a separate credit file on you and there could be huge differences between the credit reports. This is why it’s important to always check your report from all agencies.

The contact information for the agencies is as follows:

  • Equifax – 1-800-685-1111
  • Experian – 1-888-397-3742
  • TransUnion – 1-800-888-4213

Understanding your credit can be a very daunting task. There are so many factors that influence your credit and something as simple as a credit inquiry can have negative impacts on your credit score. Understanding your credit can lead you on the right path to building a strong financial foundation. Almost every lender uses a credit score from one of these agencies so knowing what’s on your credit report can you help you get that loan or mortgage that you wanted with an affordable rate!

Here are some tips to help you improve your credit:

Pay your bills on time, every time! – Becoming delinquent on your bills may cause these accounts to reflect negatively upon your credit. By paying your bills on time, you can avoid this negative impact to your credit.

Don’t be afraid to have a credit card. – Many consumers are concerned about becoming entrenched in debt. However to build your credit you have to have credit accounts. Now don’t open up to many, maybe one or two will suffice and don’t max them out and you should be just fine.

Don’t apply for too much credit! – Every time you apply for credit your credit file is pulled. Too many of these inquiries may reflect negatively upon your credit report.

Know your rights as a consumer – Knowing your rights can help you avoid costly mistakes. The Fair Credit Reporting Act can inform you on your rights when it comes to your credit.

Information as simple as above can lead you in the right direction to helping your credit score and saving you thousands!