Learn about The Three Major Credit Reporting Agencies

Equifax, Experian, and TransUnion

Did you know that there are 3 major credit reporting agencies? Did you know that these companies are independent of one another and do not share information? Therefore, you will have 3 separate bureau reports at each of these credit report agencies, and it is quite possible that each of your reports may be different.

These major reporting agencies are Equifax, Experian and Trans Union, each company is in the business of collecting and distributing your credit history. When you apply for credit, a lending company will use different credit bureaus to make their decisions; some will even use a merged report from the 3 major credit bureau companies.

Your credit rating is your reputation in the financial world; make sure you are getting all the credit you deserve and that it is accurate and free of errors. Your 3 bureau credit report is the only way to go, as it combines the information form each credit reporting agency, Experion, Equifax, and Trans Union. This way you are able to monitor them all at once. You will want to make sure they are accurate and free of errors, and report any errors immediately to the reporting agency that filed the incorrect information.

Your best defense against credit fraud and identity theft is to obtain your merged credit reports online from form the major 3 credit reporting agencies, Experian, Equifax, and Trans Union credit bureau company. When reviewing your reports from these companies check them carefully for any accounts that are not yours as well as inquiries that you did not authorize. It is recommended that you review your credit bureau on a regular basis, you can get a totally free credit report with companies when you sign up for their credit monitoring service, which is an excellent way to stay on top of your credit. And if you every find that your credit is controlling you, instead of you controlling your credit; check out a professional agency offering credit counseling services to assist you in getting back on track.