Three Credit Report Agencies are Used for Reporting Credit Scores

When a person asks to get information on one’s credit score that person is going to find information from a variety of different sources. Three different credit report agencies are going to offer free credit reports to people.

Each of these three credit report agencies will offer free reports on an annual basis. A person can ask for each individual credit report separately or all at the same time. This can be a very convenient thing for all sorts of financial services.

It helps to take a look at all three of these agencies when getting one’s free credit score:

Equifax

Equifax has been working on reporting credit scores for over a century. The agency works to handle different types of reports and will gather information with a few limits. The most notable thing that Equifax does is that it can offer a credit lock service to paying clients. This is where inquiries are limited. This can be beneficial but it can also influence the way how one’s credit is seen when compared with other agencies.

The agency uses a FICO oriented score. This type of score works with a standard that is used by most creditors.

Experian

Experian is a unique credit report agency that works with different things in mind. The bureau works with its own unique reporting system in the PLUS Score. This works to list many things including:

• How a credit score works
• All of the main factors that will influence the credit score
• What can be done to get a credit score changed in the event something needs to be done

TransUnion

TransUnion, like Equifax, works with FICO scores in mind. Full online checking services can work through TransUnion. There have been some concerns though about how the bureau works to correct errors.

So, if they are so similar to each other why do they all need to be checked?

All three credit reporting bureaus are going to work with different reporting and listing standards in mind. Each bureau will work differently and independently from each other. Taking a look at all of the standards that each bureau works with will be critical for anyone who needs help with finding details on one’s credit report.

Anyone who works with free credit reports for any needs should be doing so with all three of these credit reporting bureaus in mind. Working with all of them can help to make it easier for a person to see what one’s credit score is and how different bureaus report it.