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* Credit Diagnosis provides you with the tools you need to access and monitor your financial/credit information through the program's credit reporting and monitoring benefits. Credit Diagnosis and its benefits providers are not credit repair services providers and do not receive fees for such services, nor are they credit clinics, credit repair or credit service organizations or businesses, as defined by federal and state law. Credit services are provided by TransUnion Interactive, Inc
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Our credit monitoring service includes a free 3-in-1 Credit Report with information from all 3 national credit bureaus - TransUnion, Equifax and Experian. The report includes your complete, unabridged credit information plus all 3 credit scores.
We call it a merged report because the 3-bureau information is printed side-by-side in an easy to read format that makes it simple to compare reports and spot any errors or inconsistencies.
Since credit bureaus do not share their data with each other, it is important to check your credit and scores at all 3 bureaus to get an accurate picture of your credit records. Most lenders review all 3 credit reports before deciding whether to extend you credit, and they use the average of your scores as a guide.
The 3-in-1 Credit Report is valuable because it lets you see exactly what your lender does. You can use this information to negotiate better rates on credit cards and loans to save money. If your credit is damaged, you'll like the free credit score analysis which provides excellent tips on how to raise your score.
Once you login and receive your credit report online, you should print a copy and review it carefully, circling any unfamiliar information. Signs of fraud and identity theft include strange addresses and accounts you do not recognize. Follow up on these and any other items by contacting the creditor directly at the telephone number or address listed on the report.
Your 3-in-1 Merged Credit Report includes:
In addition to your free 3-in-1 Credit Report, you will also receive:
Whenever you apply for a loan, a job, or an apartment, your credit comes under scrutiny. Your credit history and credit score are used by lenders to assess the amount of risk you represent. Lower credit scores or adverse credit history will result in higher interest rates that can cost you thousands of dollars in the long run. That is why improving your credit is so important.
Checking your credit report is the first step. Sometimes a small mistake can linger on your credit report and continue costing you money for years. For example, if you change addresses and a bill does not get forwarded to you, or if a vendor makes a mistake in processing a payment, it may remain on your record as delinquent. According to a US Public Interest Group Report, as many as 70% of credit reports have errors on them.
Credit monitoring is a service in which an authorized agency notifies you whenever an update is made to your credit report, such as the opening or closing of an account, a change in address, or the processing of a loan payment. It's a great way to keep track of your credit standing. It's also one of the only ways to catch identity theft early, before any serious damage is done. Identity theft is the fastest-growing crime nationwide, affecting an estimated 10 million Americans last year alone.
Even if you don't think your credit history is good, or if you don't think you have any at all, consider checking your credit report to find out just where you stand. You might be surprised. If you notice negative information on your report, confirm that that information is accurate. Most derogatory information, such as a loan payment that was 180 days late, must remain on your credit report for at least 7 years. However, if a negative record is not accurate, be sure to send a letter of dispute to the credit bureau that reported the error. See the section below on disputing errors. The next step in building or rebuilding your credit history is to get a credit card. You may have to start with a secured credit card, in which a savings account is used as collateral for your credit. Also consider special-interest cards that are oriented to your purchasing habits, such as a gas card or department store credit card. No matter what card you decide to get, be sure to read the fine print and watch for high APR rates, setup fees, annual fees, and short grace periods. Be sure to use your new card responsibly and make all your payments on time.
When you check your credit report or account statements from financial institutions and notice suspicious or inaccurate information, you should first try to contact the creditor or company responsible for the inaccuracy. Their contact information will appear in your credit report. Minor errors can often be corrected over the phone. If this is unsuccessful, or you wish to dispute the information with the credit bureau that has reported it, it must be done in writing, either online or by mail. Send them a brief letter describing the error, and include a copy of your credit report with the error(s) highlighted. Also include any documentation you have that proves your position (for example, that you have paid an account that is marked on your report as delinquent). Be sure to include your full name, date of birth, social security number, mailing address, the name and of the creditor you have a dispute with, and your reason(s) for the dispute. Send the letter by certified mail and keep a copy for your records. By law, the credit bureaus are required to investigate your claim. However, they will not necessarily find that the item is an error.
Customer Service is available toll-free Monday through Friday at
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In addition to confirming your basic information, such as your name, address, and social security number, also watch for errors and signs of fraud:
It's wise to check your credit report frequently for signs of fraud. If someone obtains your social security number, only a few additional pieces of information are necessary to perpetrate fraud in your name. Common types of identity theft include fraudulent bank accounts, credit cards, utilities, and loans. According to the FTC, victims of identity theft spend an average of 175 hours and $800 to clear their names. Early detection is the key to avoid suffering long-term financial consequences.
The file will be updated in 30 to 60 days, but public records such as court actions and collections remain for seven years. Note that it may take anywhere from a few weeks to a few months to correct an error in your report.
Your credit score is used by lenders to represent your overall level credit risk. It is essentially a numerical summary of the information in your credit report. The higher your score, the better your credit, and the more likely lenders will be to give you a favorable interest rate on a loan. Each of the three major credit bureaus has its own method for determining a credit score, but they are essentially equivalent.
Credit scores range from 350 to 850 - the higher your score, the more favorable interest rates you will receive on a loan.
Requesting your own credit report will not affect your credit rating. On the other hand, inquiries such as mortgage, loan and credit card applications will affect your score if several of these inquiries occur over a relatively short time frame. Some studies have indicated that this suggests you may be a higher credit risk.
