Three credit reporting agencies


While there are several credit reporting agencies existing in the country, three remain as formidable and established. The three major credit bureaus are: Experian, Equifax, and TransUnion. These credit bureaus collect and safeguard credit reports of all of its clients.



These agencies gather all information on your credit transactions and stores them in huge databases and impose fees for furnishing a copy of that information. They stand out as credit bureaus because of their ability to operate on a national level while the rest of the agencies are more industry-specific.


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Differences and similarities


Experian, Equifax and Trans Union (sometimes referred to in the business as the “big three”) sells credit reports and ancillary services.


You can say that there are only some minor differences between these three national credit report companies. Even though they are in the same business, they work independently from each other so there may be some slight differences when it comes to each company’s policies, systems, and processes.


credit score factors


Why is it necessary to get all 3 credit reports?


As what was previously discussed, the “big three” works in different ways to provide an accurate figure for your credit scores. Since this is the case, it may prove to be quite prudent to get all possible data from these three agencies to get a more accurate figure regarding your credit scores. It’s just like having the opinion of three different doctors for the same ailment: if credit agenciesthey gave the same diagnosis (or at least two out of three) then chances are what they’re telling you are accurate. Again, an accurate credit review will open more opportunities for you. However, you can secure a copy of all your credit reports from these three agencies (what is also known as three-in-one report) from any of these credit bureaus. These agencies even offer the same three-in-one service by including the credit score for free in your copy.


Why do they have different credit scores?


These agencies uses different credit scores to better suit the needs of their clients. There are different ways to check the credit scores and it is up to the credit reporting bureaus to “tailor-made” the kind of scoring their company will use to fit their client’s demands.


Recently, these three companies have developed a new scoring system called VantageScore. This allows more predictive score for consumers and reduces the need for manual review of credit information.


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Which agencies do the creditors prefer?

With all the pros and cons pointed out in this article, it will really boil down to the personal preference of the creditor.  Because these three established firms provide the same service, you will have to decide which company will best serve your purpose. It really doesn’t matter though since all of these Credit Report Agencies are more than capable to handle your credit concerns. No hard and fast rule exists in choosing the right agency for you. It will just be a matter of suitability.


List of credit bureaus

Below are the three credit bureaus and their contact information:


credit bureausEquifax
(800) 685-1111


( 888-397-3742)


Trans Union
(800) 888-4213