The fastest and easiest way to obtain free copies of all 3 credit reports and scores is by visiting CreditPuller.com. You can also access AnnualCreditReport.com, which is the official website to help consumers obtain all 3 credit reports once every 12 months.
No, that isn’t accurate information. Statistics show that a high percentage of all credit reports contain errors, and the burden of proof as previously stated, is on you as the consumer. The bureaus don’t have the time or resources to go back and make sure everything is reporting correctly. Here is where the consumer wins – if an item on your credit report is outdated, incorrect, or unverifiable, it must be removed and deleted.
The “Big 3″, as they are often called, Equifax, Experian, and TranUnion, are the major consumer reporting agencies in the USA. Though your credit score is intertwined with nearly every aspect of your life, the government is not involved and has no authority or input on determining your credit score. These agencies use an algorithm based primarily on 5 factors to calculate your FICO/credit score (Fair Isaac Corporation). To be clear, your FICO score is used by creditors to determine the risk they are taking to lend you money. Simply put, the higher the score the lower their risk. Your score is comprised of and weighted in accordance with the following percentages: Payment History 35%, Amounts Owed 30%, Length of Credit History 15%, New Credit 10%, Types of Credit Used.
It would be fair to assume that since the bureaus not only collect your personal information but sell it as well, that they would do a stellar job at ensuring that everything is current and accurate. However, that is not always the case. The cost and resources needed to investigate every consumers’ individual credit report is not a priority of the credit reporting agencies. As a result, you as the consumer is responsible to determine the accuracy of your information.