There are many reasons why you want to keep an eye on your Experian, Equifax, and TransUnion credit scores and you should make a habit of checking them at least once every six months. One of the biggest reasons why you want to check all three scores is because they do not all collect the same information from your credit card companies and lenders. We have many more Bad Credit Help Articles Now Available.
The opposite is true too, not all of your credit card companies, banks and lenders report to all three major credit reporting agencies. For example, let’s say you have five different credit cards. Four of those credit cards only report your payment history and credit limit to Experian. Three of those credit cards only report your payment history and credit limit to Equifax. And maybe all five report your payment history and credit limits to TransUnion.
But what if you don’t use all five credit cards and maybe only use two or three and your good payment history and low credit utilization ratio is not showing up on all three of your credit reports which results in lower credit scores all around which then results in you paying higher interest charges and costs you more money every month.
The only way you will know this is happening is if you check your information regularly and make sure there are no errors or unreported information that will build up your numbers.
So this is why it is important for you to check all three of your scores from the three major credit bureaus often. Keep in mind that correcting errors in your credit reports is a long and difficult process so the sooner you know about inaccuracies the better. You can get your free credit reports from the government’s Annual Credit Report site but you will have to pay up to $45 for your scores on the site. There is a better way to get all three credit scores absolutely free. We have many more Credit Repair Articles Now Available.