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