In another section of this site we discussed the Experian credit report. The Experian credit report is like other credit reports in that it provides most of the same basic information. It is up to you if you want to get an Experian credit report, Equifax credit report, or Trans Union credit report. In some instances you can get a free Experian credit report, so make sure you do your research. Here is some more information about credit reports that will hopefully make your decision a more educated one.

Is An Experian Free Credit Report for you?

A credit report is the sum of information gathered on your credit history, by a CRA (credit reporting agency). This information is then sold to credit grantors, such as banks, lending institutions and credit card companies.

Your Experian credit report will include such information as:

• Your address, present and past
  
  
• Outstanding debts
  
  
• Record of payments (e.g. regular, late, missed)
  
  
• Public record information such as liens, or court judgements against you
  
  
• Your employer’s name and address
  
  
• General information such as your Social Security number, and marital status

Keeping track of your credit history is a very wise move. Sending for your Experian credit report twice a year, will keep you current on what has been recorded about your credit transactions. It will also show you if there has been activity in any of the following areas:

• Credit fraud: Where someone uses your credit card numbers to run up large bills. While the law protects you with a maximum payable of $50 for each card that has been stolen, the unusual credit activity may red flag your file for some lenders.
  
  
• Identity theft: When someone takes an account number and/or personal
  information, and begins opening other accounts and running up bills you did not authorize.
  
  
• Inquiries made: Every time you apply for any kind of loan or credit, the potential lender makes an inquiry, which is noted on your credit history. If you apply repeatedly, or to several institutions at a time, it can make lenders wary of your credit history. You need to be sure that all inquiries were legitimate results of your own requests, and not unauthorized, which may mean the inquirer broke the law.
  
  
• Inaccurate entries: The human error factor has not been eliminated by the use of computerized records. Data can be entered incorrectly, or information from another file may be posted to yours. Payments made, may not be recorded. Checking the CRAs’ records against your own, will point out any inconsistencies.
  
  
• Payment record: If you are regularly mailing payments, you may be unaware that there are problems in the mail delivery system. Repeated late payments, and possibly even missed ones, may be lowering your credit status. Make sure all payments are present and accounted for.