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There are three major players in the credit reporting game, they are Experian, Equifax and Transunion . All three of the credit reporting agencies are used by a multitude of companies and individuals seeking information on your credit history and ability to be fiscally responsible. Experian, Equifax and Transunion all do more or less the same things, however, they all do them a little differently. Each credit agency has their own scoring methods and may update their records faster or slower. It is important to get all three credit reports to see what is on your credit reports, verify it is true and learn more about what your credit score will be with them. When it comes time to make a big purchase, you will want to use the company that scores you the best. There is a new company called VantageScore.com that takes all three credit reports and combines the information into one credit report, saving time and money. Their website states: "VantageScore.com is a new generic credit scoring model that opens doors to the opportunities that having credit creates. Created by America's three major credit reporting companies, VantageScore.com's highly predictive model uses an innovative, patent-pending scoring methodology to provide lenders with a consistent interpretation of consumer credit files across all three major credit reporting companies and the ability to score a broad population. This means lenders can help more creditworthy borrowers, and millions of Americans who use credit infrequently can be accurately scored." Now you only have to order one comprehensive credit report vs. three!
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