Get Three Credit Scores

You may have believed your were absolutely sure of what your credit score was before you applied for a loan. So, much to your surprise, when your application was denied, you probably wanted to know why. You may be alarmed to discover that the credit score your lender obtained is quite different from the one you were aware of. Many people find themselves in this situation because they are not aware that there is not one but three major credit bureaus. If you did not get three credit scores when you last checked your credit, chances are you are unaware of what the other credit agencies are reporting about you.

Credit scores can vary between the three major credit bureaus by as much as 40 points. The credit bureaus—Equifax, Experian and TransUnion—are completely independent of one another and they do not share data. When a lender looks up your credit history, they can go through any one of these credit bureaus—or a combination of two or more. That's why it is so important to get three credit scores when you look up your own credit. Without doing so, you simply aren't getting a full view of your credit profile.

Staying on top of your credit is a vital financial move, especially in light of statistics today that have revealed alarming numbers of reporting errors on consumer credit reports. Identity theft is another major problem that can be prevented by staying on top of your credit. The best way to do this is to purchase a complete 3 in 1 credit report, also known as a tri-merge report. This shows all three of the credit reports side by side, so you can easily compare data.