Experian Credit Report

experian credit score

A credit report is a report on how you are handling and have handled your debt. Basically, a credit report contains information on how much debt you have accumulated, how much debt you’ve resolved and had in the past, how you pay your bills etc. It also includes information on any loans you have, whether you’ve filed for bankruptcy or not, vehicle repossession, home foreclosure as well as personal information such as your phone number, home address, work place etc. Basically, a credit report contains all of your financial information and is maintained by credit bureaus such as Experian.

In the United States, there are three main credit bureaus that maintain this information and they are: Experian, Equifax and TransUnion. So, whenever you approach a company to do business with such as a lender, these credit bureaus will send your debt information to these companies. They then update your information accordingly and most of these reports are updated on a monthly basis.

experian credit reportIt is important to note that not all of your crediting transactions will be recorded but will only be when you are delinquent with your payments. For example, if you miss one payment on your cable or internet bill, it won’t be recorded. However, if you consistently miss your payments for a few months, then it will be.

So, as you can see, the state of your credit report will affect your financial power and capabilities. As a result, you should always keep a close eye on your report and you can do so by requesting a copy of your Experian credit report.

You should note that you are entitled to get one credit report free per year which you can request through the Annual Credit Report website. Alternatively, you can simply call Experian or email them and request a copy.

Once you have your hands on your report and credit score, you should closely examine it for accuracy. This is why it is important to keep a note of your spending so that you can identify legitimate purchases as well as other financial transactions. This will help you to identify any issues or transactions you did not authorize which signal identity theft.

Make a special note of any accounts that are open that you have had closed in the past. Once you have a list of all the inaccuracies, you will have to gather your supporting documents. This includes copies of payment information, notices of closed accounts etc. Then, you can submit a credit report dispute. Each dispute will require you to make a statement as to why you think that this information is incorrect so you must be properly prepared to answer all these questions.

Once you have finished the dispute report, you can file it through the Experian website which will take approximately 60 days to be processed. The Experian associates will use this time to properly investigate your claims for validity.

You can keep track of the results of your dispute on the Experian website where they will remove the disputed items if they can’t find evidence of its validity. In closing, it is critical that you keep track of your credit report rating especially if you want to maintain good financial standing.

experian report