Tri-Merge Credit Reports - The Law of Averages
Basically, it’s the pulling of all three of your credit reports merged together as a single document. Mortgage lenders evaluate the three credit scores and use the middle score as your final credit rating. Currently there are three major companies that maintain your personal credit history - Equifax, Experian and TransUnion. Each of these bureaus often have varying information about your payment history, since some credit agencies don’t always report all items to all three companies. By pulling a tri-merge credit report a mortgage firm can evaluate the borrower’s credit history in one document, instead of three individual reports separately. The three scores are averaged and the middle score is the basis for a rejection or an approval.
Since your credit score is a summary of your credit history as reported by credit card companies and banks where you may have an outstanding balance, having a clean record is important when looking for a high credit score. People who have a history of on-time debt payments and who have not declared bankruptcy in the past seven years will have higher scores than people who have a history of delinquent payments or bankruptcies.
It is recommended that people pull their personal credit report at least once a year, which is free due to a 2005 law that allows one free report a year, per person. You can get your free annual credit report from: annualcreditreport. It’s important to know what is on your credit report so that you can immediately fix errors as well as take corrective action to repair your credit if your personal credit score is low. If you choose to contact the credit bureaus directly, their information is as follows:
• Equifax, P.O. Box 740243, Atlanta, GA 30374, Ph. 800-685-1111
• Experian, P.O. Box 2002, Allen, TX 75013, Ph. 888-397-3742
• TransUnion, P.O. Box 1000, Chester, PA 19022, Ph. 800-916-8800
Fixing errors now can assure that your Tri-Merge score is the highest it can be. The cost of obtaining a tri-merge credit report is around thirty five dollars. There are numerous providers of tri-merged credit reports. Below is three vendors to look into:
• American Express credit secure
• Chase Identity Guard
• True Credit
Article by Monika Sylvester
Tri Merge Credit Reports | EXPERT CREDIT HELP
Also known as 3-in-1 credit reports. They are summaries from all three of the key credit bureaus. They include the financial history collected on a person in order to “report their credit worthiness” or in other words that they have.
To learn more about how you would Check Your Credit Score, What a Tri-merge Credit Report is, How To Obtain a Free Credit Report and Whats a Good Credit Score then visit Check Credit Score.
Tri-Merge Credit Reports – The Law of Averages
If you’re in the market to buy a house then you know from first-hand experience what the term tri-merge credit report is, also known as 3- in-1 credit report, and triple report.
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Flag for review. A better way to do this would be to use a pre-paid visa card with just a few dollars left on it. You could even buy one for $5.00 (the minimum) which would still be a bargain for a tri-merge credit report. …
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