Credit repair step #1 get your reports
Have you ever bought your credit reports and scores online and then went to your bank to apply for a loan only to find the reports and scores your bank pulled were not even close to the ones you just purchased online?
We have all seen the commercials encouraging you to go to their website and buy your credit reports and credit scores. I am sure you have seen the one with the dog's that are shaped like credit scores or better yet the three guys that sing about credit scores and how their quality of life has been effected by their poor scores. These commercials encourage you to get your credit reports and review them as credit reports are known to contain errors. Credit repair may be on the horizon for you.
Wait, did you hear what i just said? Credit report websites (such as freecreditreport.com, creditscore.com, consumerinfo.com, only to name a few, all of which are owned by one of the three major credit bureaus, Experian) are telling you to check your reports as there may be errors. Oh Ok. Well in defense of the credit bureaus the errors are not always their fault. There are several ways that inaccurate, outdated, unverifiable, incomplete information makes it way unto credit reports. So the question at hand, can you get accurate reports and scores online? Credit repair, is it actually needed? Are the errors you have just found on your reports actually errors? or are you not viewing your actual credit reports? Confused yet?
Credit Repair and Credit Report's
When looking online to check your credit reports, whether preparing to apply for a loan or looking to prepare a credit repair plan, one would assume that one website is just a good as any other. Well the truth of the matter is, No, that's not the case. Your credit repair plan or simple credit report review is off to a horrible start. Why? Well you do not have access to the same credit report(s) that bank or mortgage lender do. They may be close depending on what re-seller you buy them from but be assured, you will not see the detailed information they will.
The credit reports that banks and mortgage lenders have access to show information such as date of last activity, date reported, payment history and other details that some credit report re-sellers just don't supply. Credit repair can be a real benefit if the above mentioned account information is inaccurate or missing but with no access to view this data the errors will never be spotted. Credit repair, no credit repair, who knows.
Credit Repair and Credit Scores
Well I hope that you have found this information useful so far and I bet it is safe to assume that you are questioning on canceling your current credit monitoring service (as it is probably not accurate) or maybe wondering when I am going to tell you where you can get accurate reports and score online. Be encouraged there is a website I do recommend for an accurate credit report and credit score. Credit repair may or may not be needed. Notice I said credit report, not reports. The down side is you only have access one of the three reports and scores lenders will see, you Equifax report.
Well I guess the cats out of the bag on my next point. Chances are the credit scores you get online (unless you are getting them from Euqifax.com or myfico.com) are not going to be the same scores that your bank or mortgage lender will see. So let me ask you a question, do you have a credit monitoring service to cancel? Did you just go from thinking you knew your credit scores to unsure? You may be wondering how this is even possible. How could you not have access to the credit reports and credit scores that banks do? or only access to one of the three (since technically you can get your Equifax reports and scores).
To conclude, if you are in search of your credit reports and credit scores for the purpose of credit repair or if you're wanting to ensure your scores are at their best because you are looking for financing, you are going to need to get your reports directly from your local bank or mortgage lender. Oh one last thing I probably should mention, most banks and lenders do not release credit reports as the vendors they buy them from have blurbs in their contracts that they can't. Credit repair, credit reports, and credit scores, not a simple and 101 and it should be.
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