Credit Reporting Informative Tips
Author: guest
Posted: Tue Jun 22, 2004 11:08 am
Post subject: Credit Reporting Informative Tips
Is it possible to get all 3 bureaus to have ALL the accounts? Equifax has only like 50% of my total accts and experian more or less has them ALL with Transunion having about 80% of them. I've had credit for 10 years now and I've noticed that Experian is by far the most accurate with Transunion not that far behind. Any suggestions/advice or feedback?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: NightStar
Posted: Tue Jun 22, 2004 5:17 pm
Post subject: Credit Reporting Informative Tips
Unfortunately that is not possible, not all creditors subscribe and report equally to all three of the major credit reporting agencies.
Some of them will prefer just to do business reporting and pulling from just one - in your case you happen to live in a TransUnion area. Meaning that TransUnion works that territory more then the other two bureaus.
They actively steal each others customers - even though I work for a credit bureau Experian based, if a bank asks me - I will tell them every time, regardless of my affiliation to always report to all 3 bureaus no matter what.
Unfortunate that others are not like that to try to support uniform reporting.
You can always contact your creditors and talk to them about why they are not reporting to a bureau - sometimes you might find that they actually do and for some oversite just failed to update your credit report. Can then put in request that they fix this, and see how many might be just like this.
But you might also get the answer that it is not their policy to report to that bureau, you can ask them to reconsider, write a letter letting them know how you feel about this. Some people will actually take their business elsewhere to creditors who will report, enough lost customers can motivate a creditor to change their mind.
One final note though, recent changes in reporting requirements and costs are likely going to have the opposite affect, might see more creditors now discontinuing reporting data - unfortunately. This will be a good deal of the smaller companies that can't justify the cost for so little accounts that they have.
Author: parrothead86
Posted: Thu Jun 24, 2004 2:59 pm
Post subject: Credit Reporting Informative Tips
We have that too.. most , all but three, of our current accounts, including our mortgage are only reported to Trans Union.
I have found that not only do the big three not have all the same accounts, but on the accounts that they do have in common,, the info can very drastically!!
I have credit cards that show hugely different credit limits and amounts owed,, some will show some accounts closed and paid, others open and owing.
I have one account , it was a30 day note.. that shows as "paid as agreed " on two bureaus, and as " unknown or bankruptcy" on the third.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Tue Jun 22, 2004 11:08 am
Post subject: Credit Reporting Informative Tips
Is it possible to get all 3 bureaus to have ALL the accounts? Equifax has only like 50% of my total accts and experian more or less has them ALL with Transunion having about 80% of them. I've had credit for 10 years now and I've noticed that Experian is by far the most accurate with Transunion not that far behind. Any suggestions/advice or feedback?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: NightStar
Posted: Tue Jun 22, 2004 5:17 pm
Post subject: Credit Reporting Informative Tips
Unfortunately that is not possible, not all creditors subscribe and report equally to all three of the major credit reporting agencies.
Some of them will prefer just to do business reporting and pulling from just one - in your case you happen to live in a TransUnion area. Meaning that TransUnion works that territory more then the other two bureaus.
They actively steal each others customers - even though I work for a credit bureau Experian based, if a bank asks me - I will tell them every time, regardless of my affiliation to always report to all 3 bureaus no matter what.
Unfortunate that others are not like that to try to support uniform reporting.
You can always contact your creditors and talk to them about why they are not reporting to a bureau - sometimes you might find that they actually do and for some oversite just failed to update your credit report. Can then put in request that they fix this, and see how many might be just like this.
But you might also get the answer that it is not their policy to report to that bureau, you can ask them to reconsider, write a letter letting them know how you feel about this. Some people will actually take their business elsewhere to creditors who will report, enough lost customers can motivate a creditor to change their mind.
One final note though, recent changes in reporting requirements and costs are likely going to have the opposite affect, might see more creditors now discontinuing reporting data - unfortunately. This will be a good deal of the smaller companies that can't justify the cost for so little accounts that they have.
Author: parrothead86
Posted: Thu Jun 24, 2004 2:59 pm
Post subject: Credit Reporting Informative Tips
We have that too.. most , all but three, of our current accounts, including our mortgage are only reported to Trans Union.
I have found that not only do the big three not have all the same accounts, but on the accounts that they do have in common,, the info can very drastically!!
I have credit cards that show hugely different credit limits and amounts owed,, some will show some accounts closed and paid, others open and owing.
I have one account , it was a30 day note.. that shows as "paid as agreed " on two bureaus, and as " unknown or bankruptcy" on the third.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 10:37 AM
0 Comments:
Post a Comment
<< Home