TRW is now Experian
National Consumer Assistance Center
PO Box 2002, Allen, TX 75013
888 EXPERIAN (888-397-3742)
To order a copy of your TRW credit report, click here.
Experian is the company that was created after TRW left the credit reports business in 1996. Experian collects information about you and your credit history from public records, your creditors and other reliable sources. They make your credit history available to your current and prospective creditors and employers as allowed by law, which can expedite your ability to obtain credit and can make offers of credit available to you.
A TRW credit report and other consumer credit report is a document that contains a factual record of an individual's credit payment history and identification information. TRW and other major consumer credit reports are mainly used to judge his/her credit worthiness by lenders.
To seee a sample Experian Credit Report (formerly TRW Credit Report), click here.
The next section of your TRW report is the applicants' identifying information. Here you'll find identifying information like your name, current address, social security number, date of birth, spouse's name (if applicable).
If there are any civil actions with dollar amounts awarded, they will appear in a field named Public Records of your TRW credit report. Public Record information consists of bankruptcies, liens and civil actions against a consumer.
Under the trade portion of your TRW credit report, creditors report the amounts of loans and credit cards with payment histories. The name of the creditor is in the left column, the credit amount information in the center column, and the payment history is in the right column. Note in the center column L stands for the Loan amount or Limit and H stands for the Highest Balance Owed on the Account.
On the far right hand side of the TRW credit report is the consumer payment history for the past 25 months. These codes reflect the monthly status of an account and are displayed for balance reporting loans. Collections and charge-offs are not graded.
The last area of the TRW credit report is named inquiries. This is a list of companies that have inquired about the applicant's credit, usually for the purpose of extending new or additional credit. Numerous inquiries lower the applicant's summary score about two points per inquiry.
When you apply for credit, the lender checks on your TRW (currently Experian) or other bureau's credit report. The credit report can be read by anyone who are authorized to determine whether you have a good or bad credit history.
Although TRW and other credit bureaus provide your credit report to lenders when you apply for credit, they do not make actual lending decisions. It is up to the lender to evaluate your Equifax and other credit reports and any other factors they consider important and then decide whether or not to offer you credit.
Lenders review loan applications primarily in relation to risk. They consider information such as your income, how long you have lived at your current address, what kinds of assets you have, the balances in your checking and savings accounts, your promptness in paying bills, how long you have been working for the same company, and how much you owe other lenders. In deciding whether to grant a loan, lenders make a judgment about the credit worthiness and potential risk of each applicant.
Ideally, your TRW (currently Experian) and other major credit bureau's report is an accurate, up-to-date reflection of your credit history. Too often many people find something wrong with their TRW and/or other major credit reports only after having an application for credit denied. This is not only embarrassing and frustrating; it can also create a delay in receiving the credit you deserve.
If the information in your TRW and other credit report is inaccurate, the credit bureau is required by law to investigate the error and correct it. This, however, can take some time and effort on your part. You need to contact the creditor that filed the complaint, correct the error and ask that any credit bureaus involved be notified in writing. If the credit bureau made the mistake, they will have to delete the disputed information if it can't be confirmed. Both the credit bureau and the creditor who filed the derogatory information must help you resolve the issue in a timely manner, within 30 days.
| To order a copy of your TRW credit report, click here. |