YOUR CREDIT REPORT
Creditors voluntarily report information about you to Credit Bureaus. A credit bureau is a clearinghouse for credit history information. The bureau may also be referred to as a Credit Repository. Credit grantors provide the bureau with factual information on how their credit customers pay their bills. Each bureau assembles that information, along with public record information obtained from courthouses, into a file on each consumer. There are three major credit bureaus:
Equifax - (800) 685-1111, www.equifax.com
Experian - (888) 397-3742 , www.experian.com
Trans Union - (800) 916-8800 , www.transunion.com
These national agencies maintain centralized databases containing the credit records of more than 170 million Americans. Credit bureaus generate over a half-billion credit reports a year.
Credit bureaus do not rate credit
Credit bureaus do not approve or reject consumer applications for credit
Credit bureaus report the information.
* The above information is compliments of Genworth Financial, Inc.
annualcreditreport.com is the ONLY authorized online source for you to get a free credit report under federal law. You can get a free report from each of the three national credit reporting companies every 12 months. Some other sites claim to offer "free" credit reports, but may charge you for another product if you accept a "free" report.
OnGuardOnLine.Gov provides practical tips from the federal government and the technology industry to help you be on guard against internet fraud, secure your computer, and protect your personal information.
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WILL MY CREDIT SCORE GO DOWN IF YOU PULL MY CREDIT??
The short answer to that question is -not much. Depending on which score version is used by Equifax, Experian or Trans Union you have 14 to 45 days to comparatively shop for a mortgage or auto. All mortgage and auto inquiries within a rolling 14 day to 45 day window only count as 1 inquiry. Even then the "ding" to your score will be very slight and will be recouped over the next 30 day cycle when you once again make all your payments on time.
For a more detailed explanation please visit www.myfico.com
Family Services CCCS
4925 LaCross Road, Suite 215
Charleston, SC 29406
Appointment #: (800) 232-6489
If you are having trouble paying your mortgage, please contact your lender or a credit counselor at 1.888.995.HOPE. Find out your options now – don’t waste another minute!
