Hi sbayad-ga,
The different credit bureaus differ in the way they get
information, report information and liasion with credit reports.Most
organizations report to only one credit bureau. So not all three of
the bureau's have the same information about you. As such, any one
credit bureau is sufficient to get a status of your credit report. I
was not able to find any place which gives a comprehensive comparison
of the three credit bureau's ( a tabular format kind of thing). What I
was able to find is reviews of the three credit bureau's by the same
person. Mind you... they are personal opinion posted on a website (..
but then all reviews are personal opinion). The only solace is that
the reviewer is a "top reviewer" as noted by the website. Here are the
links to the reviews
Trans Union
http://www.epinions.com/content_32193810052
Equifax
http://www.epinions.com/content_32194793092
Experian
http://www.epinions.com/content_32195579524
From these reviews, it seems the reviewer had the best experience with Experian.
Here is an interesting resource
"Which credit bureau is right for you. Equifax, Experian, Trans Union ?
There are three different credit bureaus and each have different
information on you. Each bureau is strongest in a particular
geographic area.
When you order your credit report, make sure it is the bureau which
contains your most accurate credit picture.
If you've moved in the last 2 years, pick the address which you have
lived the most time at, in the last 5 years, for the most accurate
credit report."
This resource has the facility to select your state and enter your zip
code and it would tell you the best credit bureau for you.
http://www.best-bureau.com/
Here is what the three credit bureau's have to say about the credit
reports they provide.
Experian
http://www.experian.com/credit_report_basics/your_credit_report.html
http://www.experian.com/credit_report_basics/pdf/samplecreditreport1.pdf
Equifax
https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=cpo_detail
https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=cpo_pisample
Trans Union
http://www.transunion.com/content/page.jsp?id=/personalsolutions/general/data/CreditReportDetails.xml
httpL//www.transunion.com/sample_credit_report/sample_report.htm
All of these three credit bureaus offer a three bureau report for a
cost. Forbes has pulished an article which puts them together. It also
explains the different terms and an understanding of your credit
score.
http://forbes.theloanpage.com/library/understandng-credit-ratings.aspx
As far as paying for the reports is concerned, here is what the law has to say.
You can get a free report if you satisfy the following:
"By Federal law, you are entitled to one free credit report per year
directly from a credit reporting agency only if you certify that:
- you are unemployed and seeking employment in the next 60 days.
- you are receiving public assistance.
- you believe there are inaccuracies in your report due to fraud.
Also, if you are denied credit on the basis of information in a credit
report you are entitled to a free copy of your report from the credit
bureau that supplied the credit report.
Residents of Colorado, Maryland, Massachusetts, New Jersey, and
Vermont are entitled by state law to one free report from a credit
reporting agency per year. Residents of Georgia are entitled to two. "
http://www.fightidentitytheft.com/credit-monitoring.html
But this is going to change. As per a new law, you will be able to
receive a free credit report once a year.
"Soon you?ll be able to get your credit report for free. A recent amendment to
the federal Fair Credit Reporting Act (FCRA) requires each of the nationwide
consumer reporting companies to provide you with a free copy of your
credit report, at your request, once every 12 months. The FCRA
promotes the accuracy and privacy of information in the files of the
nation?s consumer reporting companies. The Federal Trade
Commission(FTC), the nation?s consumer protection agency, enforces the
FCRA with respect to consumer reporting companies."
http://www.ftc.gov/bcp/conline/pubs/credit/freereports.pdf
Hope you find this information useful.
-ddhara |
