Credit reporting services provide application for getting a credit report

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The Role of Credit Report Services

What Do Credit Report Services Provide When You Apply for Credit Report Information

 

 

 
Carefully monitored by the Federal Trade Commission, credit report services serve an extremely important role in business and personal finances.  When you apply for credit report information you can do so with confidence knowing that credit report services are committed to providing extremely accurate and fair information about each consumer.

 

The three major credit report services are EquiFax, Experian, and TransUnion.   Together, these agencies report credit information to lenders on millions of consumers in the United States and Canada .   Consumers may apply for one free credit report from each of these agencies each year.  The credit report services will also allow you to apply for credit report data as often as you like.  Financial advisors recommend do this at least once each year, but also before you apply for a home mortgage or other large amount of money, including a car loan, student loans, or even a second mortgage.

Should you find errors in your history, credit report services and lenders alike are required by law to correct them when they are notified.  Credit report services and creditors are also under obligation to report only true information about your credit habits.  This is enforced in the Fair Credit Reporting Act and its amendments which protect consumers against false claims made by creditors.



 


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