This article tells you in detail about the three major credit bureaus. Every month credit bureaus are updated with details of your account. The article gives detailed information regarding the following:
How can you find out which is your credit bureau?
What is the importance in knowing about credit bureaus?
Which are the three major credit bureaus?
Credit bureaus or credit or consumer reporting agencies, as they are sometimes called, are really repositories of information. Whenever you apply for a loan, credit, bank account, or bill with a major company, information about you and your new account is sent to a credit bureau. Each month, the credit bureaus may be updated with details about your accounts, so that if you are not repaying your bills or are late with payments, there will be a record of this activity available for later lenders and businesses to consider before entering into an agreement with you. While there are a number of credit reporting bureaus, in the United states there are 3 major credit bureaus: Equifax, Experian, and TransUnion.
Experian is one of the the major credit bureaus in the United States. It has its headquarters in Costa Mesa, California and its annual sales amount to over two and a half billion dollars. With clients in more than 60 countries, Experian hires more than 12 000 workers and sees itself as a global communications solution company, rather than merely a credit reporting agency. Experian can be reached via the world wide web (www.experian.com), toll-free telephone (1-888-397-3742), or by mail (Experian National Consumer Assistance Center, PO Box 2002, Allen, TX 75013 ).
TransUnion hires over 4000 workers and has a presence in more than 30 countries. The company prides itself on its innovative technology solutions, which help TransUnion help businesses with risk management. Today, TransUnion is known for being the first company in the United States to open a dedicated department – the Fraud Victim Assistance Department – to help address customer concerns about identity theft and credit fraud. TransUnion was also the first of the three major credit bureaus to eliminate physical data-entry techniques, replacing them with more advanced technologies meant to improve accuracy and provide faster credit reports. This credit bureau was also the first to use online tools to store and manage credit reports. The company provides fraud prevention products, credit decision-making technologies, target marketing products, and other services and products for businesses. TransUnion was founded in 1968 and is based in Chicago. TransUnion can be reached via the World Wide Web (www.tuc.com), toll-free telephone (1-800-888-4213), or by mail (TransUnion LLC Consumer Disclosure Center, P.O. Box 1000, Chester, PA 19022).