Money IN/Money OUT Purchase Options and Credit Reports

Purchase Options for a Color TV

Options or Features	Rent-to-Own	Credit Card	Layaway	Cash
Regular payments	$18 per week	$15 per month	$86 per month	none
Contract length	78 weeks	20 months	3 months	none
APR or equivalent	(361% !!!)	21%	0%	0%
TOTAL COST	$1,404	$303	$258	$258

Personal Credit Report Requests

All local credit bureaus belong to at least one of three national credit reporting agencies (CRAs). To request a copy of your personal credit report, call the agency most often used in your area. There is a fee for the report (about $8.50 in 2001) unless you have recently been denied credit.

Equifax - http://www.equifax.com

• 800-685-1111 (primary CRA for N.C.)

Experian (formerly TRW)- http://www.experian.com

• 888-397-3742

TransUnion - http://www.transunion.com

• 800-916-8800

Having a copy of your credit report is recommended. You should compare the information in your credit inventory to the report your creditors will receive. You may need to ask for corrections.

_{North Carolina State University
College of Agriculture and Life Sciences
North Carolina Cooperative Extension Service
Family & Consumer Sciences Department}