Using 3 credit reports as a combination will make it easy to compare the information provided by three nationwide credit bureaus of Equifax, Experian and TransUnion. This will facilitate finding out the inaccuracies and correct them before thinking about a loan. A 3 bureau credit report is a single report that is made up of credit information from each of the three major credit history reporting agencies. The information is presented in one simple report for you to compare the data that each credit history reporting agency will have about you on their files.
The 3 credit reports will provide you details of every credit card in your name along with every loan opened and a complete analysis of your payment history. There will be a line-by-line comparison of the information on each of the credit reports from the three major bureaus. A single bureau credit report may miss out important information.
Complete Picture through 3 Credit Reports
The 3 credit reports will be a snapshot of your credit-worthiness. They contain personal data like your name, address, date of birth and your social security number. They also contain historical information like your previous address, current employer information and public records like bankruptcies, judgments and liens. The reports can be evaluated by using common factors which affect your chances of obtaining a loan.
Most of the money lenders form their decision on the information from all three of the main credit bureaus. It is a good idea to review the full picture of the information that a money lender will take into consideration before forming a decision about you. The 3 bureau credit report can be signed up for at the websites, www.annualcreditreport.com and www.experian.experiandirect.com. You can protect yourself against identity theft by reviewing your 3 bureau credit report.
Merging of the 3 Credit Reports
CreditReportsOnly.com will give you instant access to 3 credit reports from the main credit reporting agencies with a free credit score in an easy-to-compare format with suggestion for financial improvement. Majority of the credit data on your 3 bureau credit report is similar looking. It is because the finance companies and the credit card companies send data to all the three bureaus on a monthly basis. Loan programs have made it compulsory in the past few years to demand the triple merge credit report. It is important for you to see that all the three credit bureaus present you in a good light.
The package includes Equifax credit report, Experian credit report and TransUnion credit report with detailed information about your loan accounts with number, type, pay status, balance and limit. You can easily see when your credit data is merged alongside all your accounts in the same format as it has been reported by the main credit bureaus. This makes it easy to spot the differences. It is possible that the updates from creditors may have been taken at separate times for different bureaus. This kind of a difference can be easily observed on a merged credit report.
Monitoring 3 Credit Reports
When you monitor 3 credit reports, you will also have contact information of all your creditors. 3 credit reports are a reliable way to assess where you stand with your credit score. Monitoring of 3 credit reports helps you to track the changes at all three major credit reporting bureaus.
A single credit report will give you credit information from only one of the three major bureaus whereas a three-in-one credit report also called 3 Agency Reports or 3 Bureau Reports or 3 Credit Reports offer your credit history as reported by all three bureaus. The 3 credit reports will list all of the credit accounts that will enable you to quickly assess how all the federal bureaus are reporting your credit. The 3 credit reports also give information on which creditors or lenders have recently requisitioned your credit history.