Credit Reporting Agencies

Among the top three credit reporting agency giants (Experian, Equifax, and Trans Union) is another less known credit reporting agency business, Innovis, as well as the many local credit reporting agencies in many different cities. The effort that credit reporting agencies put forth often goes unknown. These agencies have to compile accurate information on a person within minutes and provide it for inquiring employers, creditors, financial institutions, etc.

Credit reporting agencies have a crucial role in the gathering of information for credit departments. These agencies assemble information about a specified person and their credit history. The credit history can be attained from public records, creditors, past employers, etc. This information is useful to the credit department for employment or prospective creditor’s information. It can be the deciding factor in determining whether you are hired, approved by a creditor, approved for a loan, etc. A credit reporting agency cannot grant or deny credit though. The responsibility of a credit reporting agency is very important; they have to supply rapid credit reports within minutes. The top three credit reporting agencies today are Experian, Equifax, and Trans Union. Along with the three giants in the credit reporting agency business is another: Innovis. Lastly, there are local creditagencies that reports can be gathered from, but they are not nearly as trusted and distinguished as the previously mentioned. The goal of these reporting agencies is to not only gather your information, but also sell it to those inquiring a person’s credit history.

There is much to explore in Experian, Equifax, and Trans Union as the top credit agencies in America, and even more important in answering the question: What makes these agencies rank on top?

Experian, a credit reporting agency with thirty years of experience has attained over 30,000 consumers in North America. Their combination of outstanding wisdom and data as well as proficiency in the credit reporting industry has allowed for Experian to establish great relationships with their customers.
Equifax, a renowned credit agency has a valuable history that extends over one hundred years ago. Their leadership in the market has led them to immense success and their dedication to their clients makes them a dependable credit reporting agency.
Trans Union is significantly dedicated to stopping fraud and producing options. Consumers find Trans Union to be a credit reporting agency that has immeasurable benefits and an astonishing dedication to their clients. Trans Union is also reputable for being a company that attracts all consumers, from the corporate consumer to the individual consumer.

The information that can be attained through credit agencies may differ slightly. This may or may not be an advantage to certain consumers. Since their databases differ, one may have a debt on record that the other credit agencies have yet to discover. On the contrary, one credit reporting agency may have not caught up on their data. As a consumer, you can check the information that credit reporting agencies keep within their database. Also, another one of the benefits of a consumer is that you are permitted to check your credit report for free if you have been denied credit based on information that is within your credit report (just so it is within the 60 day range).

In order to verify your current credit information and to attain more information about the top three credit reporting agencies, you can send mail to these companies:

Experian:

National Consumer Assitance Center
PO Box 2002
Allen, TX 75013

Equifax:

PO Box 740241
Atlanta, GA 30374-0241

Trans Union Corporation:

760 W. Sproul Road
Springfield, PA 19064-0390

By Danielle Spanner