What You Need to Know About 3-in-1 Reports

December 22, 2009 by  Filed under: Credit 

One report provides credit information. However, that information is only based on one of the three major bureaus, Equifax, TransUnion, and Experian. Nonetheless, the 3-in-1 report pulls information from all these three huge bureaus. Therefore, all lists of credit accounts, debts, and such are combined into one report using information from the three bureaus.

3-in-1 reports show a variety of information. It shows all details of loans and credit cards registered and opened under your name, a full history of your payments, line-by-line assessment of all information based on each report of the three bureaus, and reports made by all companies that reviewed your report.

3-in-1 reports prove to be better than single bureau reports in considerable senses. First of all, the three major bureaus do not share information with each other as they are independent in operating statements. The implication of this is that lenders tend to miss out some important information. Having three companies in one statement, you are secure that there would be fewer problems if none to arise within the statement as the information is given and screened by three major bureaus.

Another thing is that studies show that 70% of the total statements have had errors of different kinds, which is why the experts believe it would be better to get 3 bureaus get down on making your statement.

3-in-1 statements are beneficial as it helps ensure that what is written on the statement is accurate, it adds up protection from identity theft, it provides a holistic view on your credit standing based on lenders’ views, and it assists one to help complete a loan financing.

3-in-1 bureau statements not only give a comprehensive overview of your current credit standing as it also shows the information it tells in such a way that readers will easily understand it. It also gives side-by-side comparison, which is very helpful in determining the discrepancies that the 3 major bureaus have done in their reports.

Comparing 3-in-1 bureau reports with the single ones, 3-in-1 reports provide a better ground for the people to use as a base in checking their real status in their credit history. It is inevitable for companies and bureaus to commit unintentional errors within the reports they make, which greatly fortifies the advantage of 3-in-1 reports over others.

Getting 3-in-1 reports are very advantageous. Especially in this time when score matters, errors have to be eradicated if not diminished, which is why there are 3-in-1 reports.

Free-credit-reports allow people to check credit score and prevent them from being a victim of identity theft through supplying absolutely free credit reports.

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