Types of Credit Reports

APR 01, 2015

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There are two main types of credit reports offered by Experian.com: single bureau credit reports and 3 credit bureau reports. The main difference between these two credit reports is that a single bureau credit report provides the information on your financial history as reported by one of the three major credit bureaus (in this case Experian), and a 3-in-1 credit report provides a compilation of your financial history as reported by ALL THREE major credit bureaus (Equifax, Experian and TransUnion), complete with a line-by-line comparison of the information so you can easily see discrepancies.

Both single bureau credit reports and three bureau credit reports contain the following information:

  1. Personal identification information: your name, date of birth, phone number, previous addresses, social security number, and current and previous employers.
  2. Credit history: your history of paying bills at retail stores, banks, mortgage companies, and finance companies.
  3. Public records: items that may affect your creditworthiness such as bankruptcies, court judgments, and tax liens.
  4. Inquiries: a list of any credit grantors and other authorized parties who have viewed your credit report, as well as lists of companies that have requested to view your credit report and credit score for the purpose of offering you credit.

Single Bureau Credit Report
A single bureau credit report provides your credit information from only one of the three major credit bureaus (an Experian credit report, Equifax credit report, or TransUnion credit report). Technically, the three major credit bureaus are supposed to house the same credit report information, but they don’t always. Therefore, it’s possible that the credit report you choose to order only provides 1/3 of your whole credit picture. For a complete picture of your credit history, your best bet is to order a three bureau credit report.

Three Bureau Credit Report
A 3 bureau online credit report provides your credit from all three major credit bureaus, Experian, Equifax and TransUnion. The 3 bureau credit report lists all of your credit accounts, line-by-line, bureau by bureau, which allows you to see everything that’s being reported about your credit and your financial history. Larger banks usually report credit information to all three major credit bureaus, but smaller banks and other lenders may report your credit information to only one. Therefore, as mentioned above, your credit report at one bureau won’t necessarily match your credit report at another. For the most complete picture of your credit history, a 3 bureau credit report is your smartest option. A 3 bureau credit report will paint a clear picture of all your files so you no longer have any doubts regarding your credit history.

For more information on how to check your credit report, or how to instantly get your 3 in 1 credit report, FICO Credit Score, and identity theft insurance, go to Experian.com  now!

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This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

Published by permission from ConsumerInfo.com, Inc., an Experian company. © 2015 ConsumerInfo.com, Inc. All rights reserved.