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Experian and the Free Credit Report Conundrum

I’m sure you’ve seen and heard on American television the “Free Credit Report Dot Com” commercial and the insinuatingly craven melody of its accompanying jingle — and so you know how tempting and important it is for you to have access to what the credit reporting agencies say about you. FreeCreditReport.com is operated by Experian.

Experian is one of three monolithic credit reporting agencies in the USA. Equifax and TransUnion are the other two confounding giants. If you have a credit card, loan, or if you want credit or a loan — those three agencies dictate your life and your “credit worthiness” by giving you a “Credit Score” that decides for the banks and credit lending agencies how much Vigorish / vig / juice (interest rate) you’ll pay on a loan.

As an American, you are entitled by federal law to check your credit reports for free once a year — and to then challenge any discrepancies you might find. It is important for you to know what, exactly, is on your credit report because those three megalith reporting agencies do not always agree on what you owe, let alone, who you are.

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