Credit Bureaus, Who are they?

Authored By: S. Lieberman

Credit bureaus sell credit reports to credit grantors, such as banks, finance companies, and retailers. Additionally, credit bureaus will sell credit reports to potential employers, landlords and insurance companies. Businesses and Credit grantors use credit reports to determine creditworthiness.

There are three major companies that are in the business of collecting and distributing credit histories on all Americans. If you're an average American, it's more than likely all three companies have a credit history report on you.

Experian, TransUnion, and Equifax are all competitors -- which means -- each company has a different version of your credit history. This makes it necessary to obtain reports from all three companies, to ensure that no erroneous information is within their files.

Lenders, landlords, and employers use either one of the three credit bureaus mentioned above. Mortgage companies and auto dealers utilize all three bureaus simultaneously.

TransUnion serves a broad range of industries including financial and banking services, insurance providers, mortgage and real estate services, direct marketers and retailers, collection agencies, communication and energy companies and healthcare facilities.

Experian is the company that was created after TRW left the credit reporting industry in 1996. Experian collects information about you and your credit history from public records, your creditors and other reliable sources

Equifax is the oldest of the three major credit bureaus, which dates back to 1899. Two brothers set up a company called Retail Credit Company in Atlanta, Georgia. The company became Equifax in 1975 and they claim to be the largest provider of consumer information. Equifax serves customers across a wide range of industries including the financial services, retail, healthcare, telecommunications/utilities, brokerage, insurance, and governmental agencies.

Can I obtain a free credit report from credit bureaus?

You are eligible to receive a free copy of your credit report from any of the credit bureaus if:

* You have been denied credit, insurance, or employment within the past 60-days as a result of your credit history.
* You can certify in writing that you are unemployed and intend to apply for employment in the 60-day period beginning on the date in which you made the certification.
* You are a recipient of public welfare assistance or have reason to believe that your file at the agency contains inaccurate information due to fraud.

Residents of Colorado, Massachusetts, Maryland, New Jersey, and Vermont, can receive one free copy of your credit report each year from the credit bureaus. Residents of Georgia are allowed to receive two free copies of your credit report each year from the credit bureaus.

At Kimberly Credit Counseling, we only employ fully trained professionals and Certified Debt Consolidation Counselors. All departments within Kimberly Credit Counseling are well versed in the financial, legal, and business collection practices.

Article Source: http://www.FinanceNook.com
Your One-Stop Quality Finance Article Source

Home | Credit | Credit Reports

Read Additional Related Articles from the Credit Reports Category

Listed below are more articles related to the above article.

People interested in the above article "Credit Bureaus, Who are they?" are also interested in the related articles listed below:

Why Getting A Copy Of Your Credit Report Is Important - By : Ryan Cote
Top 5 Tips To Fixing Your Credit Report - By : Stu Pearson
The Benefits Of Fixing A Bad Credit Report - By : Stu Pearson
How To Fix Your Credit Report - By : Stu Pearson
How To Check Your Credit Report - By : Stu Pearson
How To Obtain A Free Credit Report - By : Carrie Reeder
Credit Score - How To Keep It High - By : Michael Russell
Free Credit Report And Score - How To Receive A Free Credit Report - By : Carrie Reeder
The Truth About Credit Report Agencies - By : Masni Rizal Mansor
Credit Reports and Scores Often Confuse Consumers - By : Charles Essmeier

Read more related articles in Home | Credit | Credit Reports

Return Home

FinanceNook.com Home

Featured Sites

Internet Marketing
Website marketing strategies and tips for promoting a business online

Small Business Marketing
How to get more customers or clients than you ever dreamed possible

Social Bookmarking

Bookmark on del.icio.us

Popular Articles

RSS Feeds

FinanceNook.com Home | Top of Page

United States of America . United Kingdom . Canada . Afghanistan . Albania . Algeria . American Samoa . Andorra . Angola . Anguilla . Antarctica . Antigua & Barbuda . Argentina . Armenia . Aruba . Australia . Austria . Azerbaijan . Bahamas . Bahrain . Bangladesh . Barbados . Belarus . Belgium . Belize . Benin . Bermuda . Bhutan . Bolivia . Bosnia-Herzegovina . Botswana . Brazil . British Virgin Islands . Brunei Darrusalam. Bulgaria . Burkina Faso . Burundi . Cambodia . Cameroon . Cape Verde . Cayman Islands . Central African Republic . Chad . Chile . China . Colombia . Comoros . Congo . Congo (Dem. Rep.) . Cook Islands . Costa Rica . Côte d'Ivoire . Croatia . Cuba . Cyprus . Czech Republic . Denmark . Djibouti . Dominica . Dominican Republic . East Timor . Ecuador . Egypt . El Salvador . Equatorial Guinea . Eritrea . Estonia . Ethiopia . Falkland Islands and Dependencies . Faroe Islands . Fiji . Finland . France . French Guiana . French Polynesia . Gabon . Gambia . Georgia . Germany . Ghana . Gibraltar . Greece . Greenland . Grenada . Guadeloupe . Guam . Guatemala . Guinea . Guinea Bissau . Guyana . Haiti . Honduras . Hong Kong . Hungary . Iceland . India . Indonesia . Iran . Iraq . Ireland . Isle Of Man . Israel . Italy . Ivory Coast . Jamaica . Japan . Jordan . Kazakhstan . Kenya . Kiribati . Korea (North) . Korea (South) . Kuwait . Kyrgyzstan . Laos . Latvia . Lebanon . Lesotho . Liberia . Libya . Liechtenstein . Lithuania . Luxembourg . Macau . Macedonia . Madagascar . Malawi . Malaysia . Maldives . Mali . Malta . Marshall Islands . Martinique . Mauritania . Mauritius . Mexico . Micronesia (Federated States) . Moldova . Monaco . Mongolia . Morocco . Mozambique . Myanmar (Burma) . Namibia . Nauru . Nepal . Netherlands . Netherlands Antilles . New Caledonia . New Zealand . Nicaragua . Niger . Nigeria . Niue . Norfolk Island . Northern Mariana Islands . Norway . Oman . Pakistan . Palau . Palestine . Panama . Papua New Guinea . Paraguay . Peru . Philippines . Poland . Portugal . Puerto Rico . Qatar . Reunion . Romania . Russia . Rwanda . Sahara . Saint Helena . Saint Kitts and Nevis . Saint Lucia . Saint Pierre & Miquelon . Saint Vincent & The Grenadines . Samoa . San Marino . São Tomé & Príncipe . Saudi Arabia . Senegal . Serbia . Seychelles . Sierra Leone . Singapore . Slovakia . Slovenia . Solomon Islands . Somalia . South Africa . Spain . Sri Lanka . Sudan . Suriname . Swaziland . Sweden . Switzerland . Syria . Taiwan . Tajikistan . Tanzania . Thailand . Togo . Tongo . Trinidad & Tobago . Tunisia . Turkey . Turkmenistan . Tuvalu . Uganda . Ukraine . United Arab Emirates . Uruguay . Uzbekistan . Vanuatu . Vatican City (Holy See) . Venezuela . Vietnam . Yemen . Zaire . Zambia . Zimbabwe

Template Design by Larry Lim | Powered by Article Dashboard