credit reporting company

Credit Reporting Company

Your credit report does not really exist until you or a lender asks for it. It is then compiled by the credit reporting company based on the information stored in that agency's file. This information is supplied by lenders, by you and by court records.

Tens of thousands of credit grantors - retailers, credit card issuers, banks, finance companies, credit unions, etc. - send updates to each of the credit reporting agencies, usually once a month. These updates include information about how their customers use and pay their accounts.

Your credit report reveals many aspects of your borrowing activities. All pieces of information should be considered in relationship to other pieces of information. The ability to quickly, fairly and consistently consider all this information is what makes credit scoring so useful. Checking your credit report on regular basis is equally important as obtaining one. On finding errors inaccuracies in your credit report, first best thing you can do is approaching your credit reporting company for report correction.

When is the last time you saw your credit report? Getting your credit report could save you money on your credit card payments, loans, and mortgages. Because many employers check your credit report before offering you a job, your credit report could also affect your job status! Did you know:

• Checking your credit report regularly can protect against credit fraud, errors and identity theft!
  


• You could be paying higher interest rates because of your credit report!
  


• You can correct errors and work to fix bad credit but only if you know it's there!