compare credit report – transunion experian equifax

June 18, 2010

Compare Credit Repair Companies

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 10:15 pm
Chad R Fisher asked:




When preparing to select a credit repair company, make sure you do your homework. Each company offers different services and you need to read the fine print so you don’t overpay for unnecessary services. When you select a credit repair company the process should be easy, effective and most important the services rendered should be extremely transparent. There are a number of things that you can do for free to improve your credit score. If you are ready to hire a professional make sure you have done what you can to fix your own credit first – i.e. close unnecessary credit lines, make timely monthly payments, etc. If you’d like some free tips on how to improve your score visit the Federal Trade Commission’s site for more detail.

We have reviewed 5 credit repair companies and evaluated them on a number of categories important for prospective customers. The goal of this review is to rate each site so we can come up with an overall ranking and find out what separates different credit repair companies online. We are starting with only 5 companies, but we will continue to add companies to this list – if you have any suggestions for companies that should be reviewed drop by our site or send us an email.

Website Graphical Layout (Scale of 1-10)

Lexington Law – 7

Credit Bureau Experts – 7

Ovation Law – 8

Trinity Credit Services – 6

DSI Credit Repair Company – 6

Website Ease of Use (Scale of 1-10)

Lexington Law – 8

Credit Bureau Experts – 6

Ovation Law – 8

Trinity Credit Services – 6

DSI Credit Repair Company – 7

Testimonials (+5 points for Yes, 0 for No)

Lexington Law – Yes

Credit Bureau Experts – Yes

Ovation Law – Yes

Trinity Credit Services – No

DSI Credit Repair Company – Yes

Sitemap (+5 points for Yes, 0 for No)

Lexington Law – Yes

Credit Bureau Experts – No

Ovation Law -Yes

Trinity Credit Services – No

DSI Credit Repair Company – No

Refund Policy Online (+5 points for Yes, 0 for No)

Lexington Law – Yes

Credit Bureau Experts – Yes

Ovation Law – Yes

Trinity Credit Services – No

DSI Credit Repair Company – No

FAQ Section (+5 points for Yes, 0 for No)

Lexington Law – Yes

Credit Bureau Experts – No

Ovation Law – Yes

Trinity Credit Services – Yes

DSI Credit Repair Company – Yes

Privacy Policy (+5 points for Yes, 0 for No)

Lexington Law – Yes

Credit Bureau Experts- No

Ovation Law – Yes

Trinity Credit Services – No

DSI Credit Repair Company – Yes

BBB Online Reliability Program (+5 points for Yes, 0 for No)

Lexington Law – Yes

Credit Bureau Experts – No

Ovation Law – Yes

Trinity Credit Services – No

DSI Credit Repair Company – No

Overall Score

Ovation Law 46/50

Lexington Law 45/50

DSI Credit Repair Company 28/50

Credit Bureau Experts 23/50

Trinity Credit Services 17/50

Ovation Law and Lexington Law clearly separated themselves from the pack in this review. Both companies are a part of the BBBOnline Reliability program. This is important because to be a member you must be: a BBB member, have a satisfactory complaint handling record, respond promptly to customer complaints and agree to dispute resolutions as necessary. In addition to BBB membership Ovation and Lexington have a privacy policy, sitemap and a clearly stated refund policy. If you are serious about repairing your bad credit, we recommend starting with a company that is reputable and meets certain industry standards. Check out similar articles at our site: Free Yearly Credit Report.

Yolanda

March 24, 2010

How to Dispute on a Credit Report

Filed under: Finance — Tags: , , , , , , , , , , , , , , — admin @ 5:24 pm
Tom Tessin asked:


Inaccuracies are not uncommon when it comes to your credit report. That is why it is very advisable to keep checking your report in order to make sure that everything listed is accurate. You have the right to manage your credit and according to the Fair Credit Reporting Act if there is an error it is their responsibility to initiate an investigation from your creditors. Inaccurate information can be very harmful to your credit score which makes this harmful for you to buy things at a reasonable rate of interest. You should watch out for some of the following inaccurate information that can appear on your report.

• One problem that commonly happens is when someone else has a name similar to yours or their social security number is similar some of their credit information might end up in your file. This would be very apparent if they happen to have gone bankruptcy or are being sued by one of their debtors. It may not be so apparent if they only have slow pay. The credit bureau can determine who the information belongs to by comparing the correct social security numbers, full legal name and date of birth of both parties.

• You find that you are being listed for late pays but feel this is inaccurate you should again make a complaint because the credit may be late in posting payments or making the proper notations on your account in an accurate time frame does not mean you should be penalized for late payment. You can prove that you made your payment in a timely manner by showing a copy of your cancelled check or a receipt that is correctly dated. You should always make sure that your debtor puts the date on the receipt that you make the payment.

• One problem faced by some consumers is that a debtor may post a negative report on your account on a debt that is longer than seven years old. You should make sure that the information is up-to-date and not from an old debt.

• You should be very cautious about receiving information on accounts that you did not open, this is a sign of credit fraud. Watch out for those who steal your name and social security they are identity thieves and expert at ripping off people. Close any account immediately that you know you did not open or if it is an account that you opened but charges are being made without your knowledge and consent. After you have contacted the creditor to let them know that you did not open the account make sure that you contact all three credit bureaus and have a fraud alert put on your report. This will help you to stop any activation of pre-approved credit offers and creditors will know to call you first for approval. Then you should contact the police and make a report this is vital as some creditors will not take you seriously until they see a copy of the police report.

Credit disputes are not always necessary but it is best to be on your toes and protect your good name than to let it go and find that you are not able to buy anything of major importance because someone else has made charges without your consent or knowledge.



Lois

February 28, 2010

Yearly free credit report: Quite Valuable

Filed under: Credit — Tags: , , , , , , , , , , , , , , — admin @ 6:19 pm
Sophie Wilson asked:


In order to maintain the good credit status and to get the better chance to enjoy the financial opportunities, it is essential to keep track of your credit records. One can fall into financial crisis anytime; in that situation your credit record helps you to tackle with those problems. Therefore, getting yearly free credit reports will prove to be quite helpful and useful for you. The need for the credit reports being felt in each and every sphere nowadays so; you must scan your report every year.

This credit report will be delivered to you absolutely free, after getting your request by credit bureaus. There are three major institutes which prepare this report: Equifax, TransUnion and Experian. These report can be obtain once in a year from each of these reporting agencies.

In order to get this report, you have to give some personal information like name, current address, social security number, date of birth, marital status etc. You should also present the information about your credit card accounts, current balance, previous credit card account, etc.

On the basis of these transactions, credit bureau assigns you a yearly credit report. This credit report is very useful in knowing the credibility of the person for further credit, loans, etc. Credit scores are not included in this credit report; that can be obtain separately be these credit institutes.

Credit report also assists you to check that there is no identity theft or fraud. This report also helps you to improve your credit scores, by paying your debts on specified time.

One can also acquire this report through internet. As there are various websites available, who provide you with the services that enable you to get all the information but make sue you view the official site. This is most convenient and time efficient compared to manually applying for credit report.



Reginald

January 27, 2010

Credit Report Errors

Filed under: Credit — Tags: , , , , , , , , , , , , , , — admin @ 4:52 pm
Tina Richardson asked:


Each year, over 13 million inaccuracies are discovered on consumers’ credit reports. This includes everything from faulty late payments, other people’s debts, and a classic is non-payment of an invoice from before they were born. Borrowers are able to challenge these errors; however, most do not know how.

In a 2004 survey conducted by the U.S. Government Accountability Office showed that over 40 percent of consumers had not checked their credit report for errors. Everyone is now entitled under federal law, to a free credit report from each of the three national credit bureaus. TransUnion, Experian and Equifax.

You do have the right to challenge any inaccuracy in your credit report, but federal law does not stipulate that key word. Therefore, credit bureaus are able to determine what is erroneous to their advantage.

For example, you would think that out-of-date information is incorrect. Wrong. This is not an arguable error according to Donald Girard, a spokesperson for Experian. Also, you would think that any missing data is also wrong. No. Credit limits do not have to be reported. Unless the creditor tells them, credit bureaus do not have to report it. This can in fact, hurt your credit score.

It is possible to challenge any personal information which may be wrong such as your address, name or social security number.

Credit bureaus are under no obligation to share information, so be sure to dispute any errors with each one. However, creditors are required to post any corrections to whichever firm that they report to.

The best way to challenge an error is by traditional U.S. mail with a return-receipt. This way, there is evidence that the credit bureau received it. Consumers allege that creditors do not make an adequate investigation. Instead, they may simply compare the claimed error against the inaccurate records or simply remove the disputed information.

According to the 2004 GAO study, almost 70 percent of consumers claimed that the information was removed. However, the incorrect information reappeared on 13 percent of these ‘successfully’ resolved disputes.

As mentioned previously, creditors are required to report any corrections to the bureaus that which they report to, however, this sometimes gets overlooked. If this happens, you will need to arrange another dispute, but this time with the creditor.

You can add a 100 word statement to your credit report if you are not satisfied with any corrections. 100 words are rarely enough to present sufficient detail, but this lets creditors know that there is another side to the story. Let it be known though that this statement will account for nothing in a computerized scoring system.

If errors have come about due to identity theft, you have the right to prevent the credit bureaus from reporting accounts opened by the thief, accounts of yours trashed by the thief and any other erroneous data. You can also prevent credit applications submitted by the thief from being reported. In order to accomplish this, you will need to fill out and file an ID theft report to the credit bureaus.

Finally, you may request a credit bureau to submit corrected copies of your credit report to lenders, insurers or other parties if these companies have based decisions on your erroneous report.



Herbert

January 5, 2010

Why You Should Compare Credit Cards Before Applying

Filed under: Non Fiction — Tags: , , , , , , , , , , , , , , — admin @ 11:19 pm
Jon Francis asked:


You have been pre-approved for a low interest credit card with a typical APR of 12.5%, and an introductory rate of 7% for the first three months. There’s an application fee of £25, and an annual membership fee of only £22.50. Does it sound like a good deal to you? Unless you take the time to compare credit cards with similar terms and rates, how would you know?

Think twice before you apply – or three times, or four. If you’re considering applying for a new card, you should take the time to compare options to be sure you’re getting the best credit card deal available to you. When you take the time to compare before you apply for a credit card, you’ll save yourself money, time and possibly the headaches that go along with black marks on your credit report in the future.

1.You should compare credit cards based on how you intend to use them.

Make your comparisons based on the way you handle your finances. Do you pay off all your accounts on time every month? Then you’ll want to apply for a card that offers you rewards for using it – or one that shares its profits with a charity through a spending rewards program.

2.Compare credit cards by APR if you intend to carry a balance.

If you tend to purchase things on impulse even if you’ll have to pay them off over several months time, then you should be aiming for the lowest possible APR that you can get.

3.Compare credit cards by adding up all the fees and costs associated with using them, and choosing the ones that will cost you the least and offer you the highest benefit.

You can find all the information that you need to compare credit cards online. You can find many different offers for various kinds of credit cards, and check the details and terms and conditions before you apply. That way you’ll only apply for the options that you’re most likely to be approved for. That’s important because whenever you apply, the company reports it to a credit bureau, and the credit bureau notes it on your record. Every time you apply for finance, try to let a flat or apply for a position, chances are that your potential creditor, landlord or employer will check your credit record or credit score. While there’s nothing implicitly wrong with applying for many credit cards, lenders often cast a wary eye on people who’ve applied for many in a short period of time. It’s far better to sift through the offers, figure out which ones are likely to approve you, and apply for those credit cards.

If you don’t compare credit cards – if you just apply for the first one that catches your eye – you could be doing yourself out of a deal that will cost you far less in the long run.



Francis

September 8, 2009

Get Your Credit Report and Analysis

Filed under: Credit — Tags: , , , , , , , , , , , , , , — admin @ 4:09 am
justin narin asked:


It is very important to get your credit report and analysis. Why is this important? For one thing, if you’re thinking about buying a house or applying for credit for any other big purchase, you’ll need a clean credit report, and it’s always best to get your credit report and analysis before your lender does. This will give you an opportunity to clean up any discrepancies or errors, which are fairly common, and which can throw a monkey wrench in the works if not resolved.

Ideally, you should get your credit report and analysis once a year with each of the three credit bureaus:

* Equifax – (800) 685-1111, www.equifax.com

* Trans Union – (800) 888-4213, www.transunion.com;

* Experian (888) 397-3742, www.experian.com

You’re entitled by law to get your credit report and analysis for free from each of these three credit bureaus once a year. You can get all three at once or spread them out over the year. If you get your credit report and analysis more frequently than that, each report will cost no more than around $10 and in some states considerably less.

If you’ve been turned down for credit in the last 60 days because of something a lender saw on your credit report, you can get your credit report and analysis free of charge. Lenders are required by law to notify you of this right if they deny you credit.

When you get your credit report and analysis, review them carefully to make sure all the loans and credit accounts listed really belong to you, and that all the accounts listed as open are actually current loans or balances. If a loan you’ve paid off or a credit card that was cancelled is still listed as open, contact the credit bureau and ask for your credit report to be corrected.

What Is the Range of Possible FICO Credit Scores and What Do They Mean?

FICO credit scores range between 300 and 850. Ratings are as follows:

* Excellent: Over 750

* Very Good: 720 or more

* Acceptable: 660 to 720

* Uncertain: 620 to 660

* Risky: less than 620

How Is My FICO Credit Score Calculated?

The formula used to calculate your FICO credit score includes information based on several factors:

* 35% on your payment history

* 30% on the amount you currently owe lenders

* 15% on the length of your credit history

* 10% on the number of new credit accounts you’ve opened or applied for (fewer is better)

* 10% on the mix of credit accounts you have (mortgages, credit cards, installment loans, etc.)

In general, when people talk about “your credit score,” they’re talking about your current FICO score. But in fact there are three different FICO scores developed by Fair Isaac—one at each of the three main US credit reporting agencies. And these scores have different names.

WILL YOUR SCORES BE DIFFERENT?

FICO credit scores range from about 300 to 850. It’s important to get your credit report and analysis so you can understand what your FICO score is. Fair Isaac makes the scores as consistent as possible between the three credit reporting agencies. If your information were exactly identical at all three credit reporting agencies, your scores from all three would be within a few points of each other. But here’s why your FICO scores may in fact be different at the three c. The way lenders and other businesses report information to the credit reporting agencies sometimes results in different information being in your credit report at the three agencies. The agencies may also report the same information in different ways. Even small differences in the information at the three credit reporting agencies can affect your scores. Since lenders may review your score and credit report from any of the three credit reporting agencies, it’s a good idea to check your credit report from all three and make sure they’re all right.

Usually when you get your credit report and analysis from the credit bureau it will include a form for reporting any inaccuracies.

Give as much detail as possible, and if you have documents that back up your claim, provide copies. By law, the credit bureau must investigate your credit report claim, but even if they decide your credit report is accurate as it stands, you should continue to try to correct the report by writing a letter explaining your side of the story (not to exceed 100 words), which the bureau is required to provide to anyone requesting your credit report.

When deciding whether to approve credit, lenders take the following into consideration:

* Your payment history–do you pay bills on time?

* Have you had a bill referred to a collection agency?

* Have you ever declared bankruptcy?

* How much debt do you have outstanding compared to your credit limits? The closer your debt is to your credit limit, the less favorable.

* How long is your credit history? If you haven’t had much of a credit history yet, prompt payments are even more important.

* Have you applied for more credit lately? Too many applications for credit has a negative impact on your chances for approval.

* How many credit accounts do you have? Too many is considered a negative.

Information is retained in your credit report for up to seven to ten years. When you get your credit report and analysis, if you have negative items in your history, you can gradually repair your credit by consistently paying your bills on time from now on, paying down your balances, and not taking on any new debt. Lenders will take your improved record into consideration when deciding whether to approve credit, especially if you’ve been paying on time for at least a year.  For more articles on Credit, visit: http://www.bills.com/credit-score/



Ruth
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