Three in one credit report
So just what is a “Three in One Credit Report”. Well it is your credit information and history from all three reporting agencies in one convenient form. The format is a little different, but basically it is the information from all three reporting agencies combined into one report. You may or may not know that a company does not have to report problems with you to all three. So the reports may vary.
Why would you want a three in one credit report? Well if you were getting ready for a major purchase, such as a mortgage, you would want to make sure that your reports are clean. This will allow you to get a better rate and be approved faster. It could take a while to clean up your report if you find errors.
The reports could be different and you may miss something if you do not look at all three. Also one of the reports may contain mistakes that do not show on another report. As a matter of fact according to Bankrate.com 70% of credit reports have errors on them.
Identity theft is at an all time high. The sooner you catch a problem, the better it will be for you.
So how much is this convenient three in one credit report going to cost?
If you are not subscribing to a monthly credit report monitoring service you could pay between $30 and $40 for it. And you will pay extra if you also want your credit score.
If you decide that you want this convenience and are willing to pay for it, beware of scams. Make sure that you are dealing with a reputable company. You will have to give out some personal information that is desired by identity thieves.
Make sure that you know exactly how much you will be paying, what you are getting, and if there is a cancellation fee if you should decide to stop the monitoring.
Having a better credit score can save you thousands of dollars over the life of a large loan due to a lower rate. So it is definately wise to monitor your reports to keep them clean and error free. Also identity theft is the number one crime in America. Check with your insurance company to see if you are protected. Identity theft can be a huge nightmare.
A monitoring service is nice. A three in one credit report is nice. But everything that is convenient has a price. Remember that you are entitled to one free credit report from each reporting agency each year. If you spread them out you can get a report each 4 months. No guarantee and no convenience, but it may work for you if you have more time than money. For more information on how to obtain a free credit report check out my article entitled “Free Credit Report“.