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Knowing Your Credit Reporting Agency: Experian

By Andy Snyder
Published: Tuesday, October 13th, 2009

By now, you may already know that Experian is one of the three major credit reporting agencies in the US, aside from Equifax and TransUnion. These agencies work by collecting your information from different credit institutions and consolidate these data on one document, your credit report. All of the three does the same job, but they have their own different methods in calculating credit scores.

Along with these differences, these various credit reporting agencies also offer additional products that can help you review and monitor your file information, which should be your top priority according to most credit report advice experts.

Experian, for one, apart from allowing you to get a free copy of your credit report in accordance with the Fair Credit Reporting Act once every twelve months, allows you to access and monitor your own report twenty four hours a day, non-stop online. It is important that you can have access to your report daily, as every credit company sends its updates at different times of the month. Also, daily changes can help you prevent problems early on.

By purchasing your Experian credit report for ten dollars, you get to have access on your file for thirty days, allowing you to view it online any time of the day, helping you see what activities are affecting your score and even prevent signs of fraud and identity theft. For another five dollars, you can also have access to your credit score in addition to the access on your report. This is quite a plus, as you can be able to also monitor your own score while looking for other malicious signs on your file.

The Experian also offers access to the basic source of the most useful credit report advice, at least for first timers, the VantageScore service. This product, developed together by the three credit reporting agencies but is most accessible at Experian’s website, is available for $7.95 and will help you better understand your credit score.

Another useful, credit report advice providing product of Experian is the Triple Advantage. This service will monitor all of your three credit reports daily and will alert you when key changes occur. As you may already know by now, these bureaus tend to develop services like this to help its consumers detect and prevent damages that identity theft can cause. You can even have a free trial for seven days, which may convince you to purchase it for a monthly fee of $14.95.

Experian also allows you to monitor all of your three credit reports with the 3 Bureau Online Credit Report. This service, you’re not only allowed access of your Experian file, but also the ones from Equifax and TransUnion. This will allow you to further pursue the credit report advice of checking the consistency of the information in your reports, better enhancing your chances to detect any signs of errors and potential problems.

With all of these services now readily available to you, getting useful credit report advice and assistance would never be that hard to achieve anymore. Protect yourself from crushing damages a low credit score or an erroneous credit report can cause you by watching your information closely.

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