Credit Report CompaniesCredit Report Agencies

Introduction to Credit Report Companies

A credit report is record of your credit activities. It shows all loans, all existing credit and the manner in which you pay off your debts. It also makes assessments concerning your unpaid payments. Credit report companies bring you essential information about your financial history. Most credit report companies make use of this information to make decisions whether or not to do business with you. A good report qualifies you for low interest rates on loans, credit cards and provides better chances for a job.

Credit Report Companies and Your Credit Report

Credit report companies can easily provide details about your credit report about:
1. Creditors that are usually thinking about granting or have granted you credit;
2. Organizations considering a person for job, promotion, reassignment;
3. Insurance companies considering you for an insurance policy or looking at a current plan;
4. Government organizations reviewing your financial position or government rewards;
5. Any person otherwise with a legitimate business need with regards to the actual details, such as a prospective property owner.

Major Credit Report Companies Reviews

There are three major credit report companies and responsible for collecting information from creditors and selling these reports to those credit report companies who evaluate clients for credit risk for any legal business needs. There are three major credit report companies bureaus:

• Equifax credit bureau.
Equifax is the individual credit reporting agency in US. Equifax is the oldest credit report companies in the US and it maintains and gathers information over 400 million credit holders. Equifax credit report provides complete information on credits and payment history and explains how they have provided financial services.

• Experian credit bureau.
Experian (known as CCN system) is a worldwide credit information group. Experian is the second largest credit company in US. They are responsible for providing one free copy of credit report per 12 months to any interested individual.

• TransUnion credit bureau.
TransUnion is the third largest credit report company in US. TransUnion provides individuals and businesses the power to achieve their goals. Their services provide credit mentoring like identify theft, credit disputes, credit report options and educational resources. These Credit report companies provide same basic steps to make sure that lenders do not have any problems in getting accurate credit reports on consumers.

All these three credit report companies have been sued and criticized for selling credit report for free, but still they are the three best credit report companies in United States. Many financial service providers use your credit report, which are taken from credit report agencies, to make decisions whether to extend your loan or not. Many experts believe that regularly checking of your credit score with three major credit report companies is the excellent way to make sure no inaccuracies rise.

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