Your credit rating has evolved in a big way in today's world. Borrowers and lenders alike rely on the accuracy of the information used to determine your creditworthiness. It is a known fact that it is important for a lender to know if a borrower is creditworthy. However, it is also important for a borrower to follow his own credit scores diligently and to get them periodically checked. It helps you keep updated and can even help you improve your credit score. Credit reporting agencies and scores There are agencies which keep score of your credit information obtained from various sources like credit card companies, lending institutions where you have previously applied for a loan, and banks and other financial institutions whom you have approached before. After accumulating and storing your information, these credit reporting agencies then resell this information on to other companies who use the information for credit decisions. It is therefore important for you to know what your credit score looks like and what you can do to improve it. There are 3 major credit reporting agencies in the United States that keep track of your credit score. Experian, Trans Union and Equifax are those 3 agencies, which incidentally are publicly owned and profit making institutions. Credit reporting services and credit reports There are many companies which offer 3 credit reports and scores services for those who wish to know their credit score. They consider many factors to generate a three digit credit score for you that can be used for loans by lending companies or banks to ascertain your creditworthiness. The reports of the 3 major credit reporting agencies also matter when it comes to ascertaining credibility on your part. These reports and scores can help you to track and improve your credit score to better your chances of landing a loan or a better mortgage. Monitor your credit report for inconsistencies and/ or errors It is important when you get your credit report from the agencies that offer 3 credit reports and scores services that you monitor and watch your credit report for any inaccuracies or inconsistencies that may have inadvertently occurred while preparing such reports. These agencies are governed by the Fair Credit Reporting Act, and you can be assured that they are bound to adhere to the law. By the way, the credit reporting agencies are in competition with each other and oftentimes have different information on file, so it is advisable to obtain a report from each of them if possible and feasible. Are you ready to learn how to grow your own business and receive some outstanding credit reporting services? Take a moment and visit my website at www.creditreporting.com to see how I can help you to get 3 credit reports and scores services that will take your business to the next level.
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