subject: Which Is The Best Credit Report To Get and Why? [print this page] Which Is The Best Credit Report To Get and Why?
Checking your credit can provide you with peace of mind and can help to keep in touch with your financial well-being. Unless you have access to the best credit report, you may be unaware of inaccuracies that could prove to be destructive when calculating your credit score.
A credit score is a number that is calculated from the information on your credit report. This number is used by lenders to determine whether you are a possible credit risk, or if you are financially responsible. Depending on your score, you may or may not be able to secure credit, this is the reason we ask that you check your reports. An incorrect report can result in an incorrect score.
In our opinion the best credit report to get would be the three in one credit report because it will provide you with a comprehensive overview of all your credit information as listed by all three bureaus (Experian, Equifax and TransUnion). You will be able to see:
Each and every account opened in your name i.e. mortgage, car and study loans and credit cards and store cards;
A complete payment history in detail;
Each and every inquiry done on your report and by whom it was requested;
Information from each of the bureau's compared line-by-line on each account.
With this report you can be sure of the accuracy of the information because the side by side comparison allows you to easily see bureau-by-bureau, and line-by-line the reported information on each account.
Aside from that, a single credit report provides the information as it stands from only one of the credit bureaus, whereas the three in one report provides the information as it's reported by all three bureaus.
Still not convinced? The three major bureaus or agencies all operate independently from each other. That means they run on separate databases and do not in any way share information with each other, so the personal and financial information on one bureau is not the same as the information as contained in the others. It's often the case that a single bureau could be missing information too.
The bottom line is, the best credit report to get is the three in one credit report because it's so much easier to check. If you consider that up to 70 percent of all reports include errors of some sort, it's easy to see why the experts recommend the three in one credit report to ensure accuracy.
