The 3 Major Credit Bureaus in the US

The 3 major credit bureaus of United States are TransUnion, Equifax and the Experian. All of the 3 major credit bureaus have different ways of calculating scores of the individual’s credit history and therefore, do not list similar information. The system of credit bureaus was set to facilitate working of companies, which requested credit scores on a regular basis. The main motive of these bureaus is to project information, which is accurate and accountable for companies asking credit histories of the applicants.

1. TransUnion

TransUnion started operating in the year 1968 from its headquarters located in Chicago. The main function of this bureau is the maintenance of credit histories of consumers in the United States and those residing overseas too. It also educates its customers, on issues related to finances and management of credit, by means of its educational material. The bureau’s Centre of Credit Learning works in this direction and even supplies answers on credit related queries on the web.

1. Equifax

Equifax has been providing their customer with reports on credit for the past century. A reputed name in the field of credit management, it provides services to most small and large ventures in business. Headquarters of this credit management giant is in Georgia but it operates through its several offices located across the globe. Many lenders and organizations depend on the reporting of Equifax, which is not always error free, but the bureau’s prompt corrections and response to resolve credit issues makes it a popular choice.

1. Experian

This company provides its services only to certain other companies, which in turn pay Experian for its services. The services of Experian include provision of creditworthy reports to facilitate direct mailing along with formerly approved offers. Experian also provides services of ContractorCheck to the employers who wish to ensure the position of contractor’s credit and licensing.

The above-discussed agencies are the 3 major credit bureaus whereby any lender can request the reports on credit. Several companies and lenders use a combination of the reports issued by all the three bureaus. The consumer too can review credit reports as projected by these three bureaus. There is a small charge associated with the reports from the bureaus, as opposed to the one annual free check from the federal agency that all US citizens are entitled to. Go get a credit report immediately!