What Are the Three Consumer Credit Bureaus?

Credit bureaus, also known as credit reporting agencies, maintain files on borrowers that track their payment histories and ability to meet credit obligations. The three major credit bureaus in the U.S. are TransUnion, Experian and Equifax. Content in the files sets the score that determines your eligibility for credit and available interest rate. You are entitled to one free credit report from each bureau annually.

TransUnion

TransUnion started business as a rail-car leasing business, Union Tank Car Company, more than 30 years ago and expanded into collecting consumer credit information. The company has 50,000 clients in 25 countries on five continents and serves more than 500 million consumers. TransUnion specializes in risk management by collecting consumer data from various sources, including banks, insurance companies, merchants, collection agencies, hospitals and utilities, according to The Encyclopedia of Business. TransUnion also manages portfolios for clients, collects debts, analyzes data trends and offers personal credit monitoring to consumers through the subsidiary, TrueCredit.com. The company claims to take privacy seriously and strives to maintain a balance between safeguarding consumers' credit data while meeting the needs of their clients, who rely on customer information to make business decisions.

Experian

Experian utilizes the power of consumer data to ensure clients target the correct demographic, properly manage existing consumer relationships and recognize opportunities for growth. The company also assists clients with marketing and debt collections. The company says it helps lower customers' costs by helping screen out undesirable clients, reducing exposure to fraud and automating daily business operations, such as granting credit to applicants. According to Experian, the agency mails out more than 20 billion promotional fliers to more than 100 million households yearly on behalf of clients. The company's headquarters is in Dublin, Ireland, but Experian has offices in 40 countries around the world, including the United Kingdom, Brazil and the United States, and employs more than 15,000 people. Experian maintains information on more than 400 million consumers culled from myriad industries, including telecommunications, mail-order businesses, utilities, mortgages and auto loans. Private consumers can order their credit reports from Experian, along with reports from the other two bureaus, or subscribe to the company's credit monitoring service, Triple Advantage.

Equifax

Equifax has been in business for more than 100 years. Using proprietary development practices, Equifax assists businesses with customized reports and empowers consumers to manage their individual credit profiles, avoid identity theft and maximize current and future financial opportunities. The company employs around 7,000 people and operates from 16 countries, including those in Latin America, North America and Europe. Atlanta, Georgia, is the headquarters for Equifax. Equifax provides credit data, assists companies with identifying target customers, determining risk levels, expanding consumer bases and collecting outstanding debts. The company serves clients in several industries, including financial services, retailers, utilities and mortgage lenders. Equifax sells credit reports to individual consumers and offers a subscription service, CreditWatch, to monitor your credit file on a continuing basis.