TransUnion® Credit Report and Score: What You Need to Know

There may be plenty of situations in which you need to prove your financial reliability with the help of a credit report. Credit bureaus draw up these documents, and the three biggest ones in the United States are Equifax, Experian, and TransUnion. A detailed report is required whether you need to provide data to a lender, a credit card issuer, or a bank. So, your credit history will have a direct impact on services you will be able to access. You can request this information on your own and even obtain it for free.

What is a TransUnion credit score used for? In this article, you will read information specifically about the TransUnion credit score check, how to request a report, and what it includes.

What Is TransUnion Credit?

TransUnion is authorized to provide individuals with credit reports based on the data collected regarding their credit history and activity. The basic information you will receive in a report includes your personal data, any credit accounts, public records, and performed inquiries. At the moment, you can request a report from TransUnion weekly for free.

By checking your report, you will know exactly what a financial institution, a company, or your employer will see if they check your credit. Thus, you will be prepared or can make adjustments to improve your credit history. Also, if you notice any errors, you will be able to report them.

How Can You Request Your TransUnion Credit Score Report?

Now that we have the answer to “What is a TransUnion credit report used for?”, the next step is to know how you can get one. There are several ways:

Visite AnnualCreditReport.com

One of the easiest ways to get a free copy of your report is to go to AnnualCreditReport.com. On the site, you can fill out an application and receive a report from all three major bureaus, including TransUnion.

Use CreditWise

Created by Capital One, CreditWise also allows you to obtain a free credit report. What’s more, you don’t have to be a Capital One customer to enroll.

Call TransUnion’s phone number

If you don’t want to request a report online, you can do so by phone at 877-322-8228. The automated phone system will verify your information during the call, and a report will be sent via mail.

TransUnion Credit Report Verification

While a bureau should provide you with accurate information, some errors are still possible. For this reason, you need to carefully check the accuracy of the used data:

Personal info

The personal information includes your full name, birth date, any current or previous addresses, phone number, SSN, and also your current or previous employers. You need to make sure there aren’t any typos or wrong information.

Account data

The next category has to do with your current or previous accounts. You need to check whether the names of the creditors are correct as well as make sure that opening and closing dates of accounts are accurate. Other details to check include account statuses, limits, payment history, and balances.

This information will affect your score, so it needs to be precise.

Inquiries

In this category, you can view what companies pulled your reports and the dates when such inquiries were performed.

Public records

Another category of information included in credit reports is public records. Here, you will find anything related to debt-related matters—foreclosure, bankruptcy, tax lien, and civil judgments. You should keep in mind that this data can harm your score and thus affect a certain company’s decision, so you have to ensure that no public records are added by mistake.

When you notice any errors in your report, there are several things you can do. For example, if there is a mistake related to a credit card, you can directly contact the card issuer. Another option when you cannot go to the source is to contact TransUnion and provide the necessary documentation to prove your claim.

What Is a TransUnion Credit Score and How Is It Calculated?

To put it simply, a credit score is a forecast of your future financial behavior based on the already available information from your credit reports created by credit bureaus.

When studying the topic, plenty of people wonder, “What’s a TransUnion credit score?” You need to be aware that TransUnion doesn’t calculate the score on its own. The bureau creates credit reports while a specialized company, such as VantageScore, calculates your exact scores.

Your score will be affected by several factors, such as:

• Payment history;
• Credit utilization and amounts you owe;
• How long your credit history is;
• Variety of loans and credit accounts you have;
• Any credit you currently have.

All of this information will be taken into account by a credit-scoring company, and thus you will be assigned a certain score.

Also, because not all companies report information to the three major bureaus, you may notice that your score differs depending on the one you turn to. This is something to be aware of, especially if the difference is significant.

Final Thought

Credit reports are essential for financial institutions and help them assess your reliability as a potential customer. For this reason, every individual needs to be aware of what information is included in their report so they can make improvements if necessary or even fix errors.

You can request your credit report from TransUnion once a week for free and do this either online using the mentioned services or by calling the bureau directly.