Free Credit Report Trans Union Experian

What is a credit report and credit score?

A credit report is a report containing information about your identity, credit relationships, some court actions, consumers statements and previous inquiries into that file. Credit reports are compiled by agencies that gather information about your credit relationships known as credit bureaus. Currently there are three major credit bureaus (more info. below).

Credit scoring is a system lenders use to help determine whether to give you credit (car loans, credit cards, home mortgages, etc.) that is closely associated with your credit report. Information about you and your credit experiences, such as your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, and the age of your accounts, is collected from your credit application and your credit report(s). Using a statistical program, creditors compare this information to the credit performance of consumers with similar profiles. A credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points, a credit score, helps predict how creditworthy you are, that is, how likely it is that you will repay a loan and make the payments when due.

Why is it important that I obtain a copy of my credit report?

Since your credit reports are an important part of many credit scoring systems, it is very important that you make sure that your credit reports are accurate before you submit any type of credit application (including credit cards). Some experts estimate that as much as 50% of credit reports contain at least one inaccuracy. Thus, consumer advocacy groups recommend that you obtain a copy of your credit reports at least once a year to prevent fraud and to insure that your report is accurate.

There are actually three major national credit reporting bureaus or agencies and we recommend that you obtain your credit report and your credit score from EACH of the three major bureaus. Since creditors (i.e. credit card companies, mortgage companies, etc.) do not report your credit history to the same bureaus, each bureau will often contain different information regarding your credit history. For example, some creditors may report to one bureau, while other creditors may report to all three bureaus. Please note that each bureau will charge you up to $14.95 for your credit report and score. By law, however, some consumers may qualify for a free credit report.

Featured Offers: ^About
If you do not qualify for a free credit report, you can still obtain two of your credit reports for free through our website. You have the opportunity to obtain a free instant online copy of your personal Experian credit report ¹ (featured offer), as well as a free instant online copy of your personal Trans Union credit report ¹ (featured offer) through our site. Note! We suggest that you consider taking advantage of both offers, since these are two different offers representing two different national credit bureaus (credit reporting agencies). Both bureaus compile their own credit data. Thus, each bureau may contain different information regarding your credit history. Finally, creditors may use information from both bureaus when making credit decisions.

Consumers also have opportunity to instantly obtain your official credit score online for free from Experian (featured offer). Other similar offers cost up to $14.95. This offer includes helpful information about how to improve your credit rating/score. Similarly, you can obtain your official credit score online for free from Trans Union (featured offer). Note! We suggest that you consider taking advantage of both offers, since these are two different offers representing two different national credit bureaus (credit reporting agencies). Both bureaus compile their own credit data. Thus, each bureau may contain different information regarding your credit score (your score will likely not be same for each bureau)

Important Offer Note! Both free credit report/score offers include a free 30 day trial membership. The Experian offer includes a 30 subscription to Credit Manager, a credit monitoring and credit advice service. Credit Manager is the only online credit management product actually designed by Experian, a credit bureau. You can cancel this service without cost or obligation if you decide that you do not want to continue the service beyond 30 days. If you do not cancel your membership within 30 days, you will be charged an annual fee of $89.95 for this service. The Trans Union offer includes 30 days of Credit Monitoring, which includes such benefits as weekly fraud-watch emails that alert you to changes in your Trans Union credit report. If you do not cancel your membership within 30 days, you will be charged an annual fee of $79.95 for this service. However, you can cancel this service without cost or obligation if you decide that you do not want to continue the service beyond 30 days.

Why is it important to obtain my credit score? What is a good credit score? What score do I need to qualify for an attractive credit card?

Credit scores typically range from about 300 to 850. Consumers with high credit scores are more likely to obtain lower credit card interest rates and other favorable card terms. Also, in order to qualify for certain types of attractive credit cards, such as platinum and titanium cards offering a 9.9% APR for purchases (or lower), you usually must have a credit score of approximately 700 or above (this is a general rule of thumb).

How do I correct inaccuracies on my credit report(s) and improve my credit score?

Your credit report will contain instructions about how to correct any errors that may appear on your report. There is no charge to dispute items on your credit report.

Consumer Warning! There are many fraudulent credit repair offers that will guarantee you a "clean credit report" or "a new credit identity". Please avoid these offers like the plague. These scams often suggest that you obtain a new tax identification number, which is highly illegal. If you have damaged your credit (and the damage is entirely your fault), then only time will heal your credit report (usually a minimum of seven years).

If you would prefer to try the dispute process yourself and would like some reference material to assist you, then consider purchasing "The Ultimate Credit Handbook" by Gerri Detweiler. Gerri Detweiler has been helping Americans solve their credit problems for more than a decade. She is the author of several credit related publications, including The Ultimate Credit Handbook (Plume, 1993, revised 1997), which was featured in Money magazine as one of the five best new personal finance books of the year when released.

Also, you may find our message board to be helpful. Our board contains helpful information from fellow consumers about credit reports. Be sure to utilize our board's handy search feature. You can post an inquiry on our board anonymously. Our board has 11,500+ posts.

It is a good idea to obtain a copy of your credit report and credit score from each of the three major bureaus, since each bureau is independent and each bureau may list different information. The three major bureaus are Equifax, Experian, and TransUnion.

If these offers do not interest you, then the easiest way to obtain a copy of all of your three reports is to order a "three bureau report" (aka a merged report). A three bureau report simplifies the process, since you will not need to contact each bureau individually. You can order a three bureau credit report online for $34.95 (featured offer). You can add your credit score from each of the three bureaus for an additional $10.00 (for a total of $44.95). Please note that by law some consumers may qualify for a free credit report.

If you would like a more detailed explanation of credit scoring, please read our July 2000 article entitled "Demystifying the Credit Rating/Scoring Process". This article includes a description of some very significant changes that have recently transpired regarding public disclosure of the credit scoring process. These changes have resulted in a much greater public awareness of the how credit scores are determined. Also, you may find our page devoted to improving your credit history of interest.

Good Credit is Sexy, a new book written by Kristy Welsh, offers an in-depth credit repair tutorial.

Victims of Credit Reporting is a victims rights advocacy group (this link does not represent an endorsement of their services).