Rhode Island Challenge to Credit Report of Experian, TransUnion, and/or Equifax

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Multi-State
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US-1162BG
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Word; 
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Description

There are three credit reporting agencies, or credit bureaus, in the United States: Experian, Equifax, and TransUnion. Each of these credit reporting agencies compiles your credit information from various reporting sources, such as lenders, into a credit report.
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FAQ

Dispute mistakes with the credit bureaus. You should dispute with each credit bureau that has the mistake. Explain in writing what you think is wrong, include the credit bureau's dispute form (if they have one), copies of documents that support your dispute, and keep records of everything you send.

FICO scores are generally known to be the most widely used by lenders. But the credit-scoring model used may vary by lender. While FICO Score 8 is the most common, mortgage lenders might use FICO Score 2, 4 or 5. Auto lenders often use one of the FICO Auto Scores.

Which of the three credit bureaus is the best? Of the three main credit bureaus (Equifax, Experian, and TransUnion), none is considered better than the others. A lender may rely on a report from one bureau or all three bureaus to make its decisions about approving your loan.

It's important to note that all three bureaus are used widely in the U.S. None of them are more ?important? than the others. There is no ?best? credit bureau?all three bureaus can offer helpful information and tools to help you make financial decisions.

If you dispute your credit reports online, you make it difficult to enforce the law, and it slows you down. Eventually, if you are correct, it will require filing a claim to make the credit bureaus correct the problem, especially if it was not fixed the first time.

If you identify an error on your credit report, you should start by disputing that information with the credit reporting company (Experian, Equifax, and/or Transunion). You should explain in writing what you think is wrong, why, and include copies of documents that support your dispute.

While both agencies should display accurate information, Equifax typically reports to a higher amount of lenders and banks. This means that, although it's worth checking what your score looks like on both, more lenders will check how your report appears on Equifax.

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Rhode Island Challenge to Credit Report of Experian, TransUnion, and/or Equifax