You probably already know it is a good idea to check your credit report on a regular basis, but what you may be less clear about is whether it makes sense to check all 3 credit reports on a regular basis. Each of the three major credit reporting agencies in the United States issues its own report on your payment history, and assigns you a score based on its own proprietary scoring metric. You may be uncertain about whether you should check just one of those reports or whether you should check all three. The answer to this question is a pretty simple one though. Checking all 3 credit reports makes a lot of sense.
Check All 3 Credit Reports Because A Mistake May Show Up On Just One
Many people have mistakes on their credit reports. For example, if someone has a name similar to yours, data may show up on your report when it actually belongs to the other person. When such a mistake is made, it is not uncommon for only one credit reporting agency to make that mistake. If you do not check all 3 credit reports, you could miss that mistake. This type of incorrect data on your report can drag down your credit score and make borrowing more costly for you.
Check All 3 Credit Reports Because They All Might Contain Slightly Different Information
While creditors typically report to all three of the major credit bureaus, this is not always the case. It is possible that one credit report might contain different information about a creditor or about debts that you have. The three major credit reporting bureaus will also assign you different scores as well. It is important to know how your credit appears on each of the 3 major credit reports so you will have a full picture of your financial situation.
Check All 3 Credit Reports Because You Don’t Know Which One a Lender Will Use
Finally, a last very important reason to check all 3 credit reports is that you never know which one a lender will use. You want to see what the lender is going to see. Fortunately, it is very easy to check all 3 credit reports, as you can see by visiting Credit Report 123 to learn more.