Each credit bureau is required to follow reasonable procedures to assure maximum accuracy of information they collect and report, and no credit bureau is “better” than any other. What are the differences between Equifax, Experian and TransUnion?Įquifax, Experian and TransUnion are the three major credit bureaus. Take a look at these FAQs for more information on credit scores and credit reports. Some companies may even check a person’s credit before offering them a job. Service providers like utilities and insurance companies may check your credit before doing business with you. For example, banks and credit card companies may check credit reports before extending credit. There are lots of reasons for working toward good credit by doing things like paying your bills on time. Payment history, including late payments.Credit accounts, such as mortgages and credit cards.The reports can contain a range of information-everything from personal details like names and Social Security numbers to specifics about foreclosures and bankruptcies.Ĭredit reports also typically include credit-related details such as: The three major bureaus are Equifax, Experian and TransUnion.Ĭredit bureaus create credit reports with information that’s provided to them by creditors like lenders and credit card companies. A credit report is a statement that provides a record of a person’s credit history and activity.Ĭredit reports are compiled by credit bureaus, which are also known as credit reporting agencies.
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