Experian is a major credit reporting agency in the United States. Creditors rely on credit reporting agencies, such as Experian, to supply them with consumer payment histories and listings of creditors. This is done to protect the lender or creditor from taking a risk on those who do not pay their loan agreements as scheduled. Not many companies will even consider financing you if you do not have some sort of credit history. They contend that even a negative credit history will supply them with some sort of pattern of your payment history. There are three companies who can supply you with credit reports. The two other credit reporting agencies, in addition to Experian, are Equifax and TransUnion.
Keeping track of your credit file is absolutely necessary. If you are planning to finance a home, car, furniture, or any other small or large purchases, you should contact Experian to get a copy of your credit report. So many people become victims to identity theft, credit errors, or other things that were no fault of their own. Experian credit reports give you access to your files so that you can check any mistakes and/or negative reporting. Your Experian credit report will contain all of your personal information: name, social security number, current and previous addresses and places of employment, as well as all of your creditors, account numbers, payment history, collection accounts, court judgments, and inquiries. Some of the information that may not be included in your Experian credit report is your salary or medical history, criminal or personal background, stocks and bonds, checking and savings account, personal assets, religion, and race.
One of the most important things on your Experian credit report is your credit score. This score is used by some creditors to determine your eligibility for financing and/or financing fees. The higher the score; the higher your chances are for receiving financing privileges. Your score can range anywhere from 300 to 900 points. Not all companies rely on the credit score detailed on your Experian credit report. This is because your credit score will fluctuate, depending on your credit activity. Also, some creditors do not report credit information regularly, which may cause your credit file to have inaccurate information. In addition, you may be turned down for credit even if your Experian credit score is good, due to inefficient income and other similar circumstances.
According to their Web site, www.experian.com, Experian has been in the credit reporting business nearly 30 years with well over 30,000 consumers in North America. They offer their US clients “tools and services [that will] help them understand, manage, and protect their personal credit profiles.” They were the first of the three credit reporting agencies to offer consumers access to their credit file online. Experian services more than just the United States; they provide services worldwide. Experian provides more than just credit services as well; they have marketing services, Experian automotive, and Experian Consumer Direct services. These services allow them to conduct partnerships with other big name companies such as Earthlink, Yahoo!, MSN, Lending Tree, American Express, Chase, E-LOAN, and Quicken.
By Jaime Cannon