Your credit history is important to a lot of people, like banks, prospective employers, utility companies, credit card companies, and mortgage lenders. Why? Because your credit history provides them with a look at how you manage financial responsibilities, and where they get this information from is a credit report.
There are three major credit bureaus – TransUnion, Experian and Equifax – and when you’re maintaining your credit score, at the top of your “to do” list is to check your credit reports from each of the nationwide consumer reporting agencies. Checking your own credit reports will not bring down your score, and according to the Fair and Accurate Credit Transactions Act of 2003, you are legally allowed one free credit report every 12 months from each credit reporting agency.
So, what are you looking for? You want to make sure that all information being reported on you is accurate, and if there is an error, you have the right to dispute those errors.
To dispute an error, you need to contact the credit bureau or the party who provided the incorrect information to the credit bureau. Your dispute must be investigated within 30 days, and the credit bureau has to correct or delete inaccurate, incomplete, or unverifiable information. Upon completion of your investigation, the credit bureau must provide their findings in writing and a free copy of your report if there is a change due to your dispute. This report does not count as your free annual report.
If you’re one of the millions of Americans who are credit invisible and credit unscorable, or just want to improve your existing credit score, then solutions like RentReporters can help you by reporting on time rental payments to TransUnion.
For more information on RentReporters, visit here.