The 3 Credit Reporting Companies
2010
Credit reporting question (3 companies?)?
I just checked my credit on freecreditreport.com, and i ordered my report from the 3 companies (experian, exifax, transunion, this cost me an extra $30) anyways, my question is, arent all these credit agencys suposed to be different, and have different scores? all 3 reportrs are exactly the same. im very confused. also, i just paid off my car today, how long will that take to be reflected on my credit?
thank you so much for any help!
Hi there. It is possible that all of your credit reports give you the same score/have the same information. It all depends on who you have your accounts/loans with. Companies/banks, etc. chose who they report your credit information to. So, if all of your creditors report their information to all three credit agencies then the information you see on all of them will be the same. Differences would crop up when you have credit with companies, etc that don’t report to certain credit agencies. Also, don’t forget that things like court judgments, collections and leans can also end up being reported to all three agencies, or just one or two. As for when a paid off car loan will show up on your report, again, each company is different. I would think most large ones report once a month (the date could be any date though), although sometimes some companies could report less frequently. So, if your car company reports its information the 15th of every month it won’t show up on your report until Jan. 15th.
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