| Though many of us may have a pretty good idea | | | | the three that are most reliable when you |
| of what the credit system is as a whole, the | | | | want to get a copy of your credit report |
| complex details of it are sometimes hard to | | | | safely, without risk of identity theft or |
| understand. There are several important | | | | other forms of fraud. They are the ones who |
| aspects of credit that people who have credit | | | | are best to call when you have a complaint |
| debt do not even understand fully. It is | | | | about your credit report, and they are the |
| important to know and understand what rules | | | | ones who can most likely fix it, based on how |
| we are playing by and who decides what the | | | | well you prove your argument. |
| rules are in the credit world. | | | | |
| | | | The credit reporting agencies are given |
| One of the bigger questions that may people | | | | "reports" of the way you manage your credit |
| may ask is, "Who decides what is on your | | | | from several different sources. Whomever you |
| credit report, and who calculates your credit | | | | are borrowing money from on credit, like a |
| score?" Honestly, you're the one who controls | | | | bank or a credit card company, probably |
| what goes on your credit report, and you | | | | "tells" on you periodically to the credit |
| determine your credit score by the way in | | | | reporting agencies, so that they can |
| which you spend the money you borrow, how and | | | | determine your credit worthiness based on |
| when you pay it back, and the amount of time | | | | factors like how close you come to reaching |
| it takes you to pay it takes you to pay it | | | | your credit limit, how many late payments you |
| back. But still, who is responsible for | | | | have, and how much debt you are in at the |
| actually calculating your credit score and | | | | present time. This can either be a bad thing |
| documenting what goes on your credit report, | | | | or it can be an advantage to you, depending |
| and how do you know that they are doing it | | | | on how well you have managed the credit lines |
| right? | | | | that are currently open to you. |
| | | | |
| The people who do all of the updating of your | | | | Recently, citizens of the United States who |
| credit reports and credit scores are members | | | | have credit have gained the right of getting |
| of a credit reporting agency. A credit | | | | one free credit report per year from each of |
| reporting agency is basically another word | | | | the major credit reporting agencies. These |
| for credit bureau, which may be a little bit | | | | credit reporting agencies are each obligated |
| more familiar term to credit users. But what | | | | to send you a free credit report once a year, |
| ARE credit reporting agencies/bureaus, what | | | | but only if you ask for one by requesting |
| do they do, and how do they affect the credit | | | | online, over the phone, or through the mail. |
| carriers in our world today? | | | | This means that you can receive three credit |
| | | | reports for free each year altogether, if you |
| The three main credit reporting agencies are | | | | request one from each agency individually. |
| Equifax, Experian, and TransUnion. These are | | | | |