3 Consumer Credit Reporting Bureaus

3 Consumer Credit Reporting Bureaus

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If you apply for a credit card, take out a mortgage on a home, buy a car or even start a new job or rent an apartment, your credit reports will be pulled by creditors and other parties interested in knowing more about you.

Most consumers understand that credit reports are available to creditors, but not many people know that landlords and potential employees can view them too. That is why it is a very good idea for you to obtain copies of your credit reports at least once annually. You can do that for free by visiting AnnualCreditReport.com.

Who are the three credit reporting bureaus and what sort of information do they have about you? Experian, Equifax and Trans Union are the Big 3, and the details they have about you are similar though not precisely the same. Each bureau relies on creditors to supply information to them and those details are not always accurate or up-to-date. That is why reviewing your reports annually is wise.

The information contained in your report includes your name, address, where you work, credit lines, credit used, your repayment practice and more. Negative information can adversely affect your credit score and make it more difficult for you to obtain credit. Or, if you receive credit, you could end up paying a higher interest rate on your loan.

If you have a dispute with any of the three credit bureaus you need to contact them individually. For example, an error appearing on your Trans Union report needs to be brought to attention of Trans Union, not Experian or Equifax.

Dispute Addresses:

Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
800-685-1111
equifax.com

Experian
P.O. Box 9701
Allen TX 75013
888-397-3742
experian.com

Trans Union
P.O. Box 1000
Chester, PA 19022
800-916-8800
transunion.com

Verify the address by calling the respective credit reporting bureau before sending in your dispute letter.

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Categories: Credit Reports