“6 Best Credit Report Companies Of 2017” written by Mike Marko.
Can’t decide which credit report companies are the best?
Credit reports provide an insight about your prospective tenant’s behavior in handling their financial stability. A credit report will help you in determining if they are capable of being a good tenant.
As a property manager, having the best services from the best credit reporting companies to guide you in choosing the right tenants is very advantageous and important.
Do you know the best credit report companies for this year? I will help you avoid wasting your precious time and money by providing you a list of credit reporting companies. In this article, we will talk about the best credit report companies of 2017.
Getting To Know The Best Credit Report Companies
As the property manager, it is important to know the best companies that offer credit reporting services. Having the knowledge of who the best companies are can help you thoroughly check tenants and avoid the problems of having those that have financial problems. We will talk about the top six credit report companies but first, let’s know what is a credit report company and what are the services that they offer.
What Are Credit Report Companies
Credit report companies are private companies that have financial arrangements and compile data for banks, financial institutions and other credit services. Their aim or way that they profit as a service is to collect and sell credit information of a certain individual to companies or individuals looking into past credit history of an individual. These companies have a large database which contains business information that is used to compile useful reports for creditors.
Credit report companies collect information about the credit activities and histories of an individual. The financial information will then be compiled into a single document called credit report. The credit report is often ordered and requested by financial institutions, credit card issuers, retailers, oil companies and landlords or property managers.
The information that is gathered by the credit report companies will show the individual’s credit applications, Actual credit history, and the number of previous loans and condition of payments on any outstanding debt. This information can help property managers, lenders, or financial institutions determine if an individual is responsible for their financial duties.
Services Provided By Credit Report Companies
The primary services offered by credit report companies is to provide detailed reports which show the creditworthiness of small businesses or individuals. The credit report contains the credit activities of an individual for the past seven years along with some basic information such as their name, age, citizenship, address, social insurance number. Information about the individual’s present and past employment, as well as information about their paying habits.
Some credit report companies can offer a wide range of services from risk management tools to credit monitoring solutions. It is best to look at each credit report company to determine if any additional tools are needed for your purposes. The services credit report companies provide are useful in fulfilling the wide range of business information needs that banks, companies, governments, and investors could encounter. Another service provided by credit report companies is to collect business information.
With the internet ever expanding it’s hard to tell which credit report company could give you the best and most up to date reports that you really need.
What To Look For In A Credit Report
Before ordering a credit report, think of the information that you need first. Knowing what information you need help you determine which credit report company is the best for you. It can also help you avoid paying for the services that you don’t actually need.
As the property manager, it is important to know what companies are offering the best credit reporting services. You can easily search the best credit reporting companies on the internet. However, the result of search engines will often show hundreds of credit reporting agencies and companies that offer the best services. How can you know which of them are the best?
Let’s now look at the six best online credit report companies of 2017.
Top 6 Best Credit Report Companies Of 2017
To help you in not wasting your time we have reviewed 6 companies that we believe make up the best credit report companies of 2017.
So let’s begin looking at the best credit report companies of 2017.
One of the three major credit reporting bureaus, the TransUnion offers one of the strongest membership packages in the industry. It is an Actual Credit Repository which means that TransUnion is one of the credit sources where credit monitoring services get their information from.
TransUnion has a solid reputation as a credit report agency and has shown through results to give some of the best up to date credit information on individuals.
Additionally, let’s take a look at the benefits of using the services of TransUnion
- Offers unlimited credit updates which means that members can check their credit report and credit score from time to time at no additional cost.
- TransUnion Credit Lock which gives their members the option to lock and unlock their credit report so that it will not be seen or viewed by unauthorized parties. Setting up a password to lock and unlock credit is easy for individuals and businesses.
- Online credit tools, a Debt-to-Income tool, and the option to dispute and correct credit items online.
Another excellent feature of TransUnion is the ability to view a member’s TransUnion Account anywhere using their mobile access and mobile app.
A credit monitoring service that can provide credit scores from all three major credit repositories. By monitoring the credit scores from the major credit reporting bureaus it is easy to find any discrepancies observed. In compiling TransUnion, EquiFax, and Experian financial data into one report Fast3CreditScores allows a detailed financial credit report in one report.
Fast3CreditScores also verifies identity and this is useful to a lot of property managers in filtering prospective tenants that are using a fake identity.
Here are the other features of Fast3CreditScores
- Monthly 3 Bureau Scores feature which means that members can monitor their scores from all three major credit bureaus.
- Credit information hotline and it is a toll-free phone number. Member can call to seek help and advice related to any credit issues where they are having problems.
- Daily credit monitoring alerts which will notify them of any new inquiries, new accounts, derogatory information, public records entries, and changes in address.
- ID Theft Support Services which allows its members who become victims of identity theft to receive advice on the best course of action that they should take.
Experian is another of the three major credit bureaus that is an excellent online source for a credit report company. Experian can provide you with accurate and reliable results and their services cover almost anything that a property manager will need. Their services include giving accurate credit scores to useful credit monitoring tools and they offer additional services such as credit fraud prevention and score recovery as well.
With Experian, members can study their credit scores’ importance with educational resources through the help of their supportive information education center.
Here are the highlights of choosing Experian
- Experian is specifically developed to protect its members against credit fraud.
- Members of Experian are allowed an everyday access to their Experian Credit Report & FICO scores.
- Members of Experian can enjoy a comprehensive feature list, active fraud protection, updated FICO scores every day and daily internet scan of their identity.
Just like Experian, Equifax is also one of the major credit reporting bureaus. The credit score provided by Equifax is based on their Equifax Credit Score Model but they are calculating it using the information shared by The TransUnion and Experian.
Take a look at the advantages given by Equifax to their members
Users of Equifax are given control with a one-step monitoring and ID-theft protection solution
- Offers its users to see their Equifax 3-bureau credit scores within several minutes
- They are giving their users alerts through their phone about suspicious activities in their accounts
- Helps users to monitor their credit and Social Security Number.
Equifax Credit Report Lock allows its users to prevent access to their Equifax credit report by third parties.
Privacy Guard is a credit report company that provides credit scores which come from all three major credit repositories: Experian, TransUnion, and Equifax. This feature is helpful because it can show all of the items that do not appear on the other credit report given by either one of the three major credit reporting bureaus.
Their company simply gives their members an ability to check credit reports provided by the three major credit bureaus simultaneously in a combined report.
Here’s what the Privacy Guard offers to their members
- They provide full credit reporting, credit score, credit monitoring and identity theft protection services.
- Their company allows their members to use a Triple Bureau Credit Report feature, which will give them reports from all three major credit bureaus.
- Their Members can also enjoy credit monitoring and alerts through text, email or phone which will notify them about important changes in their credit file, new account, and credit inquiries.
Additional services offered by Privacy Guard includes an Identity Fraud Support Service which will help members to minimize its impact on their credit report. They also offer a Credit Score Simulator which gives its members the opportunity to see how changes will affect their credit scores. And they offer a Credit Report Disputes Assistance which will give their members printable dispute forms, toll-free assistance to help them to dispute errors in their credit reports.
Unlike the last 5 credit report companies on our list, Lifelock focuses on identity theft protection services.
This company offers products that will help members to find out identity issues, and be alerted when there are any suspicious activities that are happening. Their company uses their LifeLock Identity Alert System which provides alerts to members through text, phone or email.
Here are the features and highlights of LifeLock
- LifeLock has a Black Market Surveillance service that’s why they will monitor more than 10,000 criminal websites throughout the world and will notify members if they found out that their data was up for sale.
- Their company has a $1 Million Total Service Guarantee which will guarantee its members in times of an identity fraud incident. LifeLock will spend up to $1 million for hiring lawyers, accountants, and investigators just to help members to recover from an identity fraud incident.
- Lastly, their company has Bank Account Takeover Alerts which will alert members in case their accounts were taken over by another user.
Final Thought On Best Credit Report Companies Of 2017
Credit report companies will provide information that can help you in knowing your prospective tenant’s behavior in managing their financial commitments. Be wise in choosing the company that will give you credit reports. Make sure that before you make a request for a credit report, think of the information that you need first. It can help you determine which credit report company is the best for you and it can also help you save money by not paying for the services that you don’t actually need.
Study the features and advantages of using the services by the best credit report companies that are listed in this article. I’m sure one of these companies will be a best fit for your needs.
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