What is a Consumer Credit Report?
A consumer (or personal) credit report is a collection of many different types of information, including personal data, credit card history, public records, payment history, and more. Lenders use consumer credit reports to determine how a likely a person is to repay a loan and manage credit responsibly. Negative report items including late payments, tax liens, and bankruptcy can make it difficult to be approved for loans or receive the best interest rates. Positive items, such as timely payments and a lengthy credit history can help you get favorable loan terms, potentially saving you thousands of dollars in fees and interest.
Why Check Your Consumer Credit Reports?
Consumer credit reports are compiled by the three major credit bureaus - TransUnion, Experian, and Equifax. Lenders often look at consumer credit reports from all three bureaus to get the most comprehensive picture of your credit worthiness. With TrueCredit 3-in-1 consumer credit reports, you can view the same information lenders use to make lending decisions. Knowing what is on your consumer credit reports from each of the three bureaus is the first step towards improving your credit history.
Because the credit bureaus collect data independently and do not share information, discrepancies may occur. Checking your consumer credit reports regularly can help you spot and correct any inaccuracies before you apply for a loan. Checking your consumer credit reports is also one way to guard against credit fraud. If your report shows accounts you do not remember opening or other fraudulent records, you may be the victim of identity theft. To learn more, please follow this link: How to prevent and recover from fraud.
Viewing Your Consumer Credit Reports
TrueCredit makes is easy to view consumer credit reports and learn how to successfully manage your credit. The TrueCredit Learning Center has the information and resources you need to build, manage, and improve your credit history.
To view your consumer credit reports, please follow this link: TrueCredit 3-in-1 Credit Reports. To see what a 3-in-1 report looks like before you order, click here: Three Bureau Consumer Credit Reports - Sample Report.
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