In the United States as well as most parts of the world, the ability to secure credit is key to leading successful life. Your credit score creates a finical picture of who you are and your ability to responsibly handle debts and payments. There are several leading agencies that handle consumer credit reports. Let’s familiarize ourselves with a few.
Trans Union
This is the third largest in the country and has been in operations since 1968. Their main office is located inChicago. This company markets it services to creditors as well as consumers. They not only offer credit services, they now have launched a new tenant screening system which functions much in the same way as a credit report does. It is called Smart move and is specially formatted to provide key leasing information regarding potential renters.
Equifax
This is one of the top two credit reporting agencies. Equifax started in 1899 and currently host the credit histories of over 450 million unique persons. This agency started with mainly American and Canadian citizens and has since expanded their scope to over 14 countries. They also market their services to consumers but have a high business to business volume rate.
Experian
This company started out as CCN Systems, Now under the heading of Experian this global credit reporting agency is the chief competitor of Trans Union and Equifax. Among hosting credit histories, it focuses on information. It collects information on business, people, car registration as well as insurance. It operates in US,Europeand several other key countries. It also markets its credit services to consumers as well as directly to creditors.
Compuscan
This is a credit agency that works in the same way as the famous tri bureau, the main difference is that this company founded in 1994 is located inSouth Africaand only services other African countries
Innovis
This consumer reporting agency based in theUSis less know by the common person but is well known by larger companies who report debt such as Verizon or local utility companies. Its scoring affect your overall rating, but most consumer over look at when requesting their credit reports.
PBRC
This is an even less know credit agency in the US. It is in the same class as the other reporting agency but functions in a different manner that is friendlier to the consumer.
This company started in 2002 and funded by a grant from Ford Corporation is a agency that is focused on helping consumers build a good credit history through self reporting. You are allowed to enroll and submit your own positive bill payment history to help build a positive credit profile. Things such as rent, utilities, cable and other items not automatically reported to the larger agencies can be reported here.
Regardless of the agency, all are required to report and issue in the same manner. You may request for a copy of your personal report yearly and report mistakes directly to them accordingly.
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