The big three Credit Bureaus (Trans Union, Experian, Equifax) do not share information with one another. Differing scores between the three credit bureaus can result from one bureau reporting information that is not reporting with another credit bureau. If your credit scores vary between the three bureaus by more than 50 points, this could be an indicator that there is conflicting information that may be in error. If you need help removing negative and incorrect items from your credit report, call Trinity Credit Services at 1-866-820-2176 for your Free Credit Report Consultation.
In any single tradeline there may be two or three inaccurate pieces of information that can harm your credit score. Without expert knowledge of the credit scoring model and the ability to read tradeline data, you will miss these inaccuracies. Here are some tips: Make sure that all credit cards report the proper limit and balance. When your limits are inaccurately low or your balance inaccurately high, your available credit is artificially decreased and your scores will drop. Make sure that each open positive tradeline reports to all three bureaus. When one bureau does not report positive information that bureau will have a lower score. Duplicate accounts and closed accounts reporting as open, will lower your scores by artificially increasing your outstanding debt.
A common error with reporting collections occurs when collections are sold over and over again to different collection agencies. It is very common to see one debt reporting several times. Each duplicate reporting may hurt your scores by 20 points or more. Only the current holder of the debt is legally allowed to report a balance owed at any one given time. This problem can only be fixed by contacting the credit bureaus with a dispute or waiting seven years for them to fall off.
If you need credit repair, contact Trinity Credit Services today.