True Credit Allows User To View Their Credit Report Daily
With the downturn in the economy, True Credit has become a valuable service as an increasing number of people have had some negative financial events occur & subsequently their credit report has suffered.
One of the recommendations of credit repair experts is that everyone continue to monitor their credit report to ensure that everything being reported is accurate.
True Credit is a service offered by TransUnion that allows the user to pull their credit report on a daily basis if necessary.
There Are 3 True Credit Bureaus That Monitor Credit Reports in The US
In addition to TransUnion, reports are kept by Equifax and Experian. When applying for a loan, creditors may check any one or all three of these bureaus.
Sometimes each of the bureaus will have similar reports and other times they are vastly different. Before applying for a loan, it is good to know what the lending institution may see about you.
Consumers are allowed to request a report from each of the three major bureaus at no cost once each year.
In addition, if a consumer is denied credit, the lending institution is required to report to him or her the company that provided information leading to the denial.
The consumer is then allowed another copy of their credit report from the company supplying the information within a certain time limit after the denial. In most cases today, the consumer can view these free reports using the internet or request a copy be sent by snail mail.
True Credit allows the consumer to have access daily to their TransUnion credit report from a computer.
True Credit Also Offers Users an FICO Score
Most people that closely monitor their credit scores actually call this a FACO score, due to the fact that it is not the score that the lender sees. Unless you have access to the lender’s software, you will never see a true FICO score.
The FACO Score is a Reliable Indicator
The FACO score is an indicator of one’s credit worthiness, but the FICO is often adjusted to meet the demands of the type of loan for which one is applying.
The auto loan industry has different standards than the credit card or home loan industry and consumers may have a different score for each of these types of lenders. In addition, they only offer the TransUnion FACO score, and it is often difficult to know which score lenders may pull.
True credit does offer some value to the consumer. It is easy to see any changes that are made to the credit report almost immediately.
This allows the consumer to know if his or her identity has been compromised. In cases of identity theft, information from True Credit and quick action can save a lot of heartache.
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