Get a Tri Merge Credit Report
Updated: Oct 3, 2012
A Tri Merge Credit Report is one that contains your credit history from the three main consumer credit reporting companies.
Online Credit Score
If you or a lender orders your credit report from a company, be it online or offline, you may only receive your report from one of the three main credit reporting agencies, which are Equifax, Experian and TransUnion.
You may also only receive your credit report and it may not include your credit score or scores.
Even if you do get a Tri-Merge Credit Report it may still not include your credit scores.
Credit Rating Scores
If you have your eye on a new home it is good to let the mortgage company, where you plan to apply for financing, retrieve your credit report.
This will reduce the number of inquires against your credit history. Even though inquires do not impact your credit score very much, too many inquiries by creditors can be a slight negative for your credit score.
The mortgage lender may or may not allow you to have a copy of the credit report that they retrieve; especially if they pulled your credit report for free.
If you have any concerns about your credit status it might be best to get a copy of your credit report and score first in order to clean up any problems before you go house hunting.
When you receive your credit report you should review it for any problems. Make sure that all credit items listed belong to you. It is not uncommon for items to get posted on the wrong credit report, especially when your name is a Sr., Jr. or a commonly used name.
Make sure your personal information is correct; such things as address and date of birth. You may have recently moved and your address has not been updated. There may have just been a simple keying error with your DOB.
Check to make sure that any bills that you might have paid in full are indeed cleared and show a zero balance on your credit report.
Look for any 30, 60 or 90 day lates. Lates, especially current ones, will negatively impact your credit score. If you do have lates, you might even go so far as to contact the creditor involved and see if they will give you a letter stating that the lates were incorrectly posted. If you are successful in getting this letter then send it in to the 3 credit bureaus yourself along with a letter asking them to correct this item in your credit history.
Checking a persons credit report and credit scores are a way for creditors who do not know you personally to determine if you are a person that they can rely on to re-pay their debt.
So, not only do you not need a bunch of collections on your credit report but you also don't need a credit report with nothing on it. If you have no previously established credit, good or bad, then this does not give the prospective creditor any idea whether or not you will repay the debt that you are asking to get.
If you plan on getting a mortgage to buy a home then you will need to have established some positive tradelines and credit scores before you even apply for that new mortgage. Most mortgage lenders look for at least five active tradelines before they will consider your application.
Even if you have a lot of collections it is still important for you to establish some new good credit. This will show that even though you have had problems in the past, you have turned things around and have proven that you can be a good credit risk.
3 Credit Score
Often times the tri-merge credit report is referred to as a 3 Credit Score Report. They are one in the same.