How many credit reports should I buy?

[brickmanli]

Many schools recommend credit reports from all three companies (Trans Union, Experian, Equifax.) But is that just a waste of money if I pay all my bill on time and don't have outstanding loans and stuff? Which companies did you use? Thanks.

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[eagle26]

From my understanding, you just need to send one to the school you will be attending. Plus, I don't think all schools require a credit report. So...you only need to get one, plus you should get a copy for yourself. And I think the three companies aren't all required; those are the three major companies, and you just need a report from one of these.

Joe

 

[mdhopeful]

Those are the 3 major companies, you can purchase a package of all 3 credit reports online. I can't remember where, but it's probably not that hard to find if you do a yahoo or google search. It will likely end up being a waste of money if you don't have any debt or loans and always pay your bills on time. However, you should go ahead and check because often there are inaccuracies on your credit report such as accounts from someone else with a similar name or someone who had lived in your apartment previously. When I checked my credit a few years ago, I found out that there were several accounts on my report that were not mine, so I was able to get them removed. Hope that helps.

 

[Assassin]

•••quote:•••Originally posted by brickmanli:
•Many schools recommend credit reports from all three companies (Trans Union, Experian, Equifax.) But is that just a waste of money if I pay all my bill on time and don't have outstanding loans and stuff? Which companies did you use? Thanks.•••••You can get Equifax report for free at freecreditreport.com - they'll ask for credit card, but won't charge if you cancel membership within 30 days. Some states offer all 3 reports for free once/year - check if you haven't already.

 

[pwrpfgrl]

It's probably worth your time to get the reports for your own knowledge. I had a free one done not too long ago and there were two credit card accounts on there that I didn't know about and had never opened. Luckily, it was pretty simple to fix, but i imagine it could have been worse.

 

[FoxyDoc]

Just a little warning about those "free" credit reports...I've been fighting with the company consumerinfo.com for about 2 weeks now trying to remove the charges from my credit card from the "free" report. The company is still insisting that I got the $35 report instead of the free one eventhough I followed all of the "free" links. In essence, I believe I was deceived when I was sent a link to my e-mail for a "free" report. Be careful, it may almost be worth paying the $20 fee that most companies charge to avoid such a huge hassle.

 

[THE instiGATOR]

•••quote:•••Originally posted by FoxyDoc:
•Just a little warning about those "free" credit reports...I've been fighting with the company consumerinfo.com for about 2 weeks now trying to remove the charges from my credit card from the "free" report. The company is still insisting that I got the $35 report instead of the free one eventhough I followed all of the "free" links. In essence, I believe I was deceived when I was sent a link to my e-mail for a "free" report. Be careful, it may almost be worth paying the $20 fee that most companies charge to avoid such a huge hassle.•••••GREAT! I just requested a report through that company. <img border="0" title="" alt="[Eek!]" src="eek.gif" />

They better not mess with the SwampMan! <img border="0" alt="[Laughy]" title="" src="graemlins/laughy.gif" />

 

[matthew0126]

hey guys... i think i might just bite the bullet and order all 3 credit reports... heck, if iw as willing to pay $30 a pop per med school, i can do it for my credit report

but anyways... don't do the $35 3-for-1 thing with consumerinfo.com... i went to each website, and it looks like it's cheaper if you order them all separately -- plus you'll get scores for each one (don't know how important that is, but whatever) -- the consumerinfo one you only get equifax score, you need to pay $5 more for each of the other two...

equifax is $9, experian is $12.95, and transunion is $8 for californians -- it's free in some states (like maryland and newjersey) and very cheap in others!

 

[matthew0126]

so i just got my report from transunion... pretty cool. as expected, no bad credit items or anything... i recommend transunion, cheaper than the rest

 

[xanthines]

Yes, definitely check to see if you qualify for free credit reports. In some states (like GA!) you get one freebie/year. You also get a free copy if you've been rejected for a credit card, cell phone, or other membership type thing. I think most states will let you get a free one if you're unemployed.

-x

 

[matthew0126]

okay, i just tried experian

$12.95 -- pretty much same stuff as transunion, but i found slightly different info! heh. so i guess it is good to check more than one.

good: it has this really nifty credit simulator -- basically it gives you your credit, then you can alter certain variables and see how it affects your credit

bad: you can only access it once, so make sure you save everything. transunion you have like a week

gonna go do equifax next -- i will be back with a report

 

[matthew0126]

okay, and last of all in my quest to burn 30bucks, equifax

basically, same info but in a more spartan format, but exact same stuff. again, i had some slight discrepancies from the other 2. so it's not really better or worse.

pro: you can access it for 30 days
con: not as slick of a website (heh who cares)

also, equifax has a special offer that gets you the credit report free but you have to sign up for this credit-watch service. you can cancel the service, of course. previous posts i think went into more detail

and that's how i wasted 30bucks and some time

 

[matthew0126]

oh, actually, equifax isn't as good, i forgot to mention, because it doesn't have a credit score like the other 2.

•••quote:•••Originally posted by matthew0126:
•okay, and last of all in my quest to burn 30bucks, equifax

basically, same info but in a more spartan format, but exact same stuff. again, i had some slight discrepancies from the other 2. so it's not really better or worse.

pro: you can access it for 30 days
con: not as slick of a website (heh who cares)

also, equifax has a special offer that gets you the credit report free but you have to sign up for this credit-watch service. you can cancel the service, of course. previous posts i think went into more detail

and that's how i wasted 30bucks and some time •••••

 

[katalin]

Does anyone know which schools require a credit report?

 

[WaitingImpatiently]

Whoa, I've never heard of this... why do schools need credit reports? Is it for financial aid?

 

[THE instiGATOR]

After submitting your info on consumerinfo.com, how long did it take to receive your passwords? Mine haven't been mailed to me yet, and I submitted the info last night.