2007-03-05 04:02:37 · 3 answers · asked by Manny G 1 in Business & Finance ➔ Personal Finance
Exquifax, TransUnion and Experian are the 3 major credit reporting agencies in the U.S.
The service they provide is that financial institutions such as banks, credit card companies and other lenders and collection agencies, sign up for a service with them to be able to report your payment history and debt history. They also can look at your history if you apply for credit with them.
The 3 reporting agencies gather data on you which is then available to anyone you apply for a loan with. You agree to have your credit history checked when you apply for the loan. Frequently, when you apply for insurance, a job or even a stock broker account, they will have you sign something authorizing the to check your credit to make sure you aren't a deadbeat.
The service therefore is gathering data and providing it to those that have a legal right to see the data.
2007-03-05 04:19:01 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
Equifax and Transunion, Are credit reporting agencies, They are the companies that rate your credit rating, and report them to lenders.
I have never heard of Experian.com
2007-03-05 12:07:42 · answer #2 · answered by bob shark 7 · 0⤊ 0⤋
Faye hit it on the nose.
2007-03-05 20:54:39 · answer #3 · answered by cathysue785 2 · 0⤊ 0⤋