Credit Report Bureaus

A Credit Article Contributed by Mistie Cauley

There are Three Major Credit Reporting Bureaus

There are three major credit reporting bureaus. They each have a little different report from each other. One bureau may have information that another bureau does not and vise versa. If you go to get a loan or such things, the company or institute will lost likely use only one of the bureaus. The companies or institutes choose the credit reporting bureau they would like to use and use just that bureau at all times. The bureaus charge these companies and or institutes a fee for accessing your credit report.

Equifax Credit Report Bureau

One of the major credit reporting bureaus is named Equifax. Equifax is an agency that supplies hundreds upon hundreds of credit reports every day. Some of the reports go to people just like you and me. You may call or write to Equifax and obtain a copy of your personal credit report. You can use your copy of your credit report to see if there are any errors on it. If you do happen to find an error, the agency will do any thing possible to try and help you change the error.

Trans Union Credit Report Bureau

Another credit reporting bureau is named Trans Union. With Trans Union as with Equifax you can expect that hundreds upon hundreds of reports are supplied daily. Some of the reports generated every day are going straight to banks. The banks use these reports to approve or deny people for credit or loans. Within the report is all the personal information the agency can find or are told about you. The people that tell the agency your personal information can range from a landlord to a credit card company and beyond.

Experian Credit Report Bureau

Experian is the third major credit reporting bureau. Experian works the same way as Trans Union and Equifax. They also have all your personal information. They are also told about you and your payment history by any body that you have owed money to.

The Differences between Equifax, Trans Union and Experian

Are there any differences in the three major credit reporting bureaus? Well besides the fact that their layout of a credit report may slightly differ, no there is nothing different. Each agency has their information that is without prodigious they must put on to your credit report. They have to do this even if you do not want any one to know some of that information. Each of their report layouts may be a little different from each other, but they all have the same groups of information.

Some may have a different bill on them than the others do, but that simply means that particular company reported the past due bill to only one agency. It does not mean because you do not see that bill on one report, but you do see it on another, that you should not have to pay. You still have to pay. No real differences as far as I can see. Get your own copy of your three personal credit reports and see for yourself.