| Credit reporting agencies
maintain files on millions of borrowers. Lenders making credit decisions
buy credit reports on their prospects, applicants and customers
from the credit reporting agencies.
Your report details your credit history as it has been reported
to the credit reporting agency by lenders who have extended credit
to you. Your credit report lists what types of credit you use, the
length of time your accounts have been open, and whether you've
paid your bills on time. It tells lenders how much credit you've
used and whether you're seeking new sources of credit. It gives
lenders a broader view of your credit history than do other data
sources, such as a bank's own customer data.
Creating Your Credit Report
Your credit report does not really exist until you or a lender asks
for it. It is then compiled by the credit reporting agency based
on the information stored in that agency's file. This information
is supplied by lenders, by you and by court records.
Tens of thousands of credit grantors - retailers, credit card issuers,
banks, finance companies, credit unions, etc. - send updates to
each of the credit reporting agencies, usually once a month. These
updates include information about how their customers use and pay
their accounts.
Your credit report reveals many aspects of your borrowing activities.
All pieces of information should be considered in relationship to
other pieces of information. The ability to quickly, fairly and
consistently consider all this information is what makes credit
scoring so useful.
To request a copy of your credit report, contact the credit reporting
agencies directly:
Equifax Address: www.equifax.com
Equifax Mailing Address:
P.O. Box 740256
Atlanta, GA 30374
Experian Address: www.experian.com
Experian Mailing Address:
P.O. Box 9595
Allen, TX 75013
TransUnion Address: www.transunion.com
TransUnion Mailing Address:
P.O. Box 2000
Chester, PA 19022
To request a copy of your FICO credit score, contact Fair Isaac
directly:
Fair Isaac Contact Information
Website Address: www.myfico.com
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