Merged Credit Report

Definition - What does Merged Credit Report mean?

A merged credit report is a report that contains all of the data from all three credit agencies, side by side, making it easier to analyze differences in reporting.

Justipedia explains Merged Credit Report

Credit bureaus collect information about a consumer’s credit history and offer this information, referred to as a credit report, to lenders and other business entities. Each year, consumers are allowed to request a free credit report from each of the three largest credit bureaus: Experian, Equifax and Transunion.

Contained on the credit report is detailed information about the consumer’s bill and payment history, their outstanding debt and the length of time that each account has been open. Credit reports also contain information on any negative financial actions such as liens, repossessions, property surrenders, lawsuits and bankruptcy filings.

Although much of the data provided from the credit bureaus is the same, reports can vary slightly between agencies. To avoid this issue, many consumers and business entities will request a merged credit report, which is simply a report that contains all of the data from all three credit agencies.

Many companies sell merged credit reports to other business entities or consumers who need to view credit information to make business or personal decisions.

For example, a merged credit report allows mortgage companies, credit card companies, financing companies and banks to review all of a consumer’s credit information quickly and easily by offering a quick view of key information, including:

  • Individual’s name, address, Social Security Number and employment status
  • Credit summary, open and closed accounts
  • Derogatory credit lines
  • Late dates
  • Payment patterns
  • Account details
  • Public records
  • Score cards
  • Fraud checks
  • Score average
  • Collections

Consumers can also order a merged credit report before they make any large purchases, such as buying a car or a house. Reviewing a merged credit report allows consumers to fix errors on their credit report and helps guard against identity theft.

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