TransUnion, Equifax and Experian are the three credit bureaus that record all your credit and financial activities and prepare a report individually which is called a credit report. This report is a very useful document and reflects your creditworthiness. This credit report is accessible by anybody and when you apply for a loan, mortgage or a credit card, your credit report is the first thing that is scrutinized. Even your employer, landlord and your phone company are likely to have seen your credit report before hiring you or accepting you as a customer.
Your credit report from each of the three bureaus will differ and may contain dissimilar or different information. This happens because, different creditors and lenders may not report your account activities to all the three bureaus. They might report to either one, two or all three, and each bureau has a policy of reporting data individually from the information they have gathered. You can get a free credit report from any to the bureaus, but now there are services which can provide you with credit report 3 in 1, which is all the reports from the three bureaus together.
Credit report 3 in 1 will have various sections containing the relevant information. There will be your full information which will have your name, address, date of birth, name of present employer and so on. The section on your different account histories will contain comprehensive data about all the real estate that you own, the installments you are paying on different mortgages or loans, your collection accounts, the opening date of each account, the terms related with each account, and most importantly your payment history.
Credit report 3 in 1 has a section on public records which will give information about any bankruptcy filings, liens on taxes and court judgements relating to any cases filed. The inquiries section will have the list of people or companies that have looked into your credit report in the past couple of years. There is also a section on consumer statement which contains a brief message from you, explaining the reasons for any late payments or other discrepancies in your report. The last section will usually contain all the contact information of all your creditors.
With Credit report 3 in 1 you will have a complete picture of what the three bureaus think of your credit worthiness. Also one bureau may miss out on some important information that is vital in credit check. It is also not uncommon for one bureau to make an erroneous entry, and this can be easily spotted if you have a credit report 3 in 1.