Credit Reporting Bureaus

Credit reporting bureaus collect and distribute credit related information to lenders, sellers, credit card companies, banks and other parties that have an interest in ascertaining the credit sanding and financial reliability of an individual.

Employers and landlords also frequently use credit reports as a factoring their decision making processes. Insurance companies of all types use credit reports to influence the rates a consumer will pay for insurance. Therefore, with so much of day-to-day life potentially affected by the information that is collected and provided by credit reporting bureaus, it is very important that the individual consumer be aware of the information being circulated concerning credit status. This is done by frequently reviewing current credit reports, being sure that the credit report contains information from each of the three major credit reporting agencies. These are Trans Union, Equifax and Experian. Credit reports from each of these agencies are easily available online.