Credit Report Solutions


Get the complete credit report picture with a 3 in one credit report. This is a report that reveals credit history from the three nationwide credit reporting agencies. The advantage of a 3 in one credit report is that it provides a look into the same information that lenders have.

No Sharing

Credit reporting agencies do not share information. They are private, for-profit companies that compete for the same customers as other credit reporting agencies. Because these reporting agencies do not share with each other, each may have very different information. There is no law that requires data furnishers – businesses that report credit information – to inform each and every credit agency when a customer makes a payment on credit.

Consider a hypothetical case study. A customer with an account on file buys a product from a business and subsequently makes payment on that credit purchase. As a data furnisher, the business reports the timely payment to one of the credit reporting agencies. As the data furnisher is about to report to the other major credit reporting agencies, an important business call is received and they forget about completing the task.

The result is that one credit agency has a more complete record of that customer’s payment history. If the customer does not actively review their own credit profile and dispute the omission of timely payment history supported by proper documentation, there remains a very strong chance that there will be a divergence in information between the various credit reporting agencies.

This is the benefit of running a 3 in one credit report. By looking at the records side-by-side of each credit reporting agency, the credit account holder can more easily identify discrepancies and take the appropriate action. This simple solution can save the account holder a lot of money by improving the accuracy of the various credit reports. A better credit report increases the chance of obtaining credit and it improves the rates and terms that will be offered to the potential borrower.

This entry was posted in Finance.