Credit Bureau Report

The importance of your credit bureau report cannot be exaggerated. Your credit bureau report contains all of your credit profile information, including your pay history, delinquencies, collections accounts, judgments, and perhaps most importantly, your credit report score. This includes your FICO score, a number that is crucial to lenders in determining whether or not you will be approved for their loan programs.

Chances are that just about every credit card or loan payment you make each months carves its own niche on your credit bureau report. This is because that's exactly what a credit report does—it tracks your pay history. In this way, lenders that pull it in the future can determine your credit history and decide whether or not you meet their requirements for offering you a loan.

Your credit bureau report can differ from credit bureau to credit bureau. There are three main ones—these are Equifax, Experian, and Transunion. When you apply for a loan, the financial company can pull a report through any one of these bureaus. Or, they can pull from two of all three of them. Therefore it is important to manage your profile on each credit bureau report. The three credit bureaus are independent of one another, which means they do not share information and your credit score can differ as much as 40 points between the different bureaus.

At Credit MD, we offer you the resources you need to obtain your credit report, make repairs, and monitor any changes. It's your financial profile—know what's on it!