Credit Bureaus: When You Need To Know Your Score…
When you want to find out your credit score, then you should only consider the services of one of the top three recognized credit bureaus. There are many services such as this site for free 3 credit reports that’s available which purport to provide you with information about your credit rating and also other services which claim that they can repair or fix your credit, but you should know that there are only a few agencies that are approved by the government to provide these services. The three are Equifax, Experian and TransUnion.
Avoid scammers, be careful!
People who are in bad debt are often looking for ways to get out and they might consider the services of a business that is not one of the three major credit bureaus. You need to be careful as some of these companies have been known to collect and sell your personal information. In some cases, they have also used the information gained about your financial accounts and your social insurance number to commit fraud in your name.
Be careful who you trust with your personal information and do not just hand it out to anyone that speaks to you on the phone.
What kind of services can you expect from the credit bureaus?
The three major credit bureaus offer a variety of services that are very similar. Generally, they will allow you to get a basic credit report for free every few months; this is their most basic service and is made possible by the various freedom of information acts enacted by states and the federal government.
Additionally, the credit bureaus will allow you to receive an enhanced credit score that also includes a rating. Further services might be the ability to provide tips and advice on how to improve your credit score overall and also information about the types of loans that you can expect to get.
For the most enhanced services available from credit bureaus, you might be able to get a live tracking score for your credit rating. Not only will this type of account allow you to log in and check your score whenever you please, from anywhere in the world through the Internet, but you can also set up alerts for fraud and also notifications for when you make payments. These can be sent to your cell phone or your email address.
Credit checking and taxes for personal businesses
If you have your own business, then you should know that your fees for your services with the credit bureaus are usually tax deductible. As a business, you can consider these services part of your “software”, “insurance services” or potentially even “security services” budget and you will most likely be able to include them when you make your tax report as a deductible. Especially if you are signing up for a monthly service, you might even be able to get the entire thing written off as a tax expense.
In general, make sure you get signed up for a service with one of the credit bureaus as soon as possible, to start getting the most information right now about your credit situation.