Signs Your Company For A Credit History Check Is Reliable

When using a monitoring company, credit history is very often one of the regular services that are offered as part of their monitoring service package. However, above all else, most customers want to be assured that the information being provided is accurate and reliable about what is actually contained in credit reports.

Sources of Information

One of the primary ways to determine the reliability of your credit monitoring company is to evaluate where they are receiving their information. The three largest credit reporting agencies are Experian, Equifax and TransUnion. These three companies should be the largest, if not exclusive, source of information for a credit history check.

In many cases, monitoring companies provide a simple and easy to read annual statement that is a 3-in-1 credit history report with their service. However, some customers may choose to receive this report more often in order to more closely monitor exactly what is on their credit report and any activity that occurs between statements.

Some credit monitoring services also include information from smaller regional credit agencies, although this is less common than information provided by the big three credit reporting agencies.

Almost all credit history reports have errors and incorrect information, and reputable credit agencies will quickly correct mistakes and errors.

Better Business Bureau Certification

For the most part, credit monitoring agencies conduct their business online through their websites. Before engaging the services of one of these internet services, it is always a good idea to review any reported information on a company you are considering using on the Better Business Bureau website. The Better Business Bureau is a tremendous service that reports any complaints made about companies, government actions against companies and any problems reported by consumers. Reliable companies will often be certified by the BBB and have positive information on their BBB company profile.

Reasonable Rates

Everyone is entitled to a free annual copy of their credit history report from all of the three major credit reporting agencies. However, most credit monitoring companies charge for their services and for access to your credit report if you choose to review your credit reports more often than once a year. When choosing a company for your credit history report, you can order it directly from one of the three major credit reporting agencies or from a monitoring service. If you decide to use a monitoring service, compare their monthly rates to other similar services. Generally, the old adage, “if it looks too good to be true, then it probably is” applies. If you are offered completely free services, then the company is probably either unreliable or the information you provide for access to your credit history report may be used for other purposes.

Summary

Regularly reviewing your credit history is an important task for everyone. When looking for a reliable company to work with, consider where they are gathering their information from, what other services they are offering, whether there are complaints registered with the Better Business Bureau and what they are charging for their services. Keep in mind that almost every credit history report has errors and mistakes.



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