The Three Major Credit Bureaus
There are three major credit reporting bureaus - TransUnion, Experian and Equifax. These three major credit reporting bureaus each collect data such as personal information, public records, current and past loan accounts, and payment history.
While the three major credit bureaus gather the same types of information, they work independently of each other. The credit reporting bureaus do not share or cross-check their information with each other. Because of this, the information collected by the three major credit bureaus may have discrepancies.
Viewing your TrueCredit 3-in-1 Credit Report gives you a more complete picture of your credit and helps you to spot and correct the discrepancies between the three major credit reporting bureaus that could potentially damage your credit score.
Because there are three credit reporting bureaus, you have three credit bureau scores. A credit score is a numerical sum derived from the information in your credit report. Lenders, landlords, utility companies, creditors, and others use credit bureau scores to assess credit worthiness. Credit reporting bureaus take the following information into account when determining your credit score:
- Payment history
- Outstanding debt
- Credit account history
- Recent "hard" inquiries
- Types of credit
Having good credit bureau scores may save you time and money when you are looking for a car loan, mortgage, or credit card. TrueCredit has the resources you need to learn about the credit reporting bureaus, view your reports, guard against identity fraud, and much more. At TrueCredit, you can view your scores from all three credit reporting bureaus. Click here to see your 3-in-1 credit bureau report and scores.
To learn more about the information collected by the credit reporting bureaus, please follow this link: Reading Your Report (PDF). Or click here to view a sample 3-in-1 Credit Report.
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