Credit score of a person is directly related to his eligibility of securing finance from the lending agencies. It is also important for the would-be tenants as the landlords want to check his credit report. The employers also show their interest in the credit status of the job-seekers. If an individual has credit score below 600 marks as per FICO, his chance to secure finance becomes remote. He can obtain finance, but not at favorable terms and condition. Credit score is calculated on the basis of the credit report of an individual. The credit report of an individual includes his name and address, accounts of his financial transactions, his repayment behavior, names and address of his lenders and things like these. 3 in 1 credit report stands for credit reports availed from three financial bureaus which are known in the following names: Experian, Equifax and Trans Union. These three financial bureaus have great reputation in the financial market.
Chances are there for a credit report to contain errors. This happens if the financial bureaus clerical staff makes any mistake in entering figure of payment from the documents. He may drop a good figure or enter one’s figure to another’s credit report. As a result of this, an individual may find his credit score having poor health. It is safe to get three credit reports. It is really good to verify the 3 in 1 credit report. The individual should scrutinize his credit report in details. If he notices any mistake, he should not waste time. He should just meet the staff of the financial bureaus and get the necessary corrections done.
The financial bureaus are duty-bound to send a corrected version of the credit report to his address and also to the lenders who have obliged or refused his loan application within one year last.
He may note that his credit score is good enough to apply for finance. He may also understand that his credit score is really weak. He can then take measures so that his credit score is improved. 3 in 1 credit report is really good for anybody as it offers him a clear idea about his creditworthiness.
Alice Marlen is author of Free Credit Report No Fee.For more Information about Credit report check for Renters, Free credit report by post visit http://www.freecreditreportnofee.co.uk
