Most Popular Credit Reporting Agencies

Consumers need to be aware of the dozens of fly-by-night credit reporting agencies that come onto the American scene and offer elusive means of correcting credit reports and miraculously eliminating debt. Conversely, there are legitimate credit reporting agencies operating in the United States, but with them too, it is important to read the fine print when using their services, as they are for-profit companies. The most popular credit reporting agencies in the country are those the Federal Trade Commission calls "the big three": Equifax, Experian and TransUnion.

Equifax

Equifax Credit Information Services, Incorporated is a publicly traded company on the New York Stock Exchange. (Their ticker symbol is EFX.) The company operates internationally and is a nationwide consumer credit reporting agency within the U.S. Equifax is obligated under the Fair Credit Reporting Act to provide American consumers with one free copy of their individual credit report each year. The company makes profits by providing a line of products to both individuals and businesses. For example, according to their website, Equifax sells services to monitor credit scores, protect against identity theft, and reduce debt faster. The company is headquartered in Atlanta, Georgia.

Experian

Experian Information Solutions, Incorporated, with corporate headquarters in Dublin, Ireland, operates on a global level, offering services and products to both individuals and companies. Experian markets consumer information to businesses providing credit histories and reports to companies through their paid services. The company assists businesses in finding and targeting prospective customers. Experian also provides products and services to businesses to help protect against fraud, identity theft and bad debt. Additionally, Experian offers debt collection services, helping companies find debtors who have relocated. The Fair Credit Reporting Act requires Experian to provide one free personal credit report per Social Security number per year to American consumers.

TransUnion

Chicago, Illinois is home to the corporate headquarters of TransUnion LLC. A popular nationwide credit reporting agency, TransUnion also must provide, according to U.S. law, one free personal credit report per American consumer per year. TransUnion conducts a global business in what the industry terms "information solutions." The company provides credit reports to businesses on prospective and existing customers, and offers identity theft protection and fraud alerts. In addition, TransUnion tailors its services to different sectors of the business world, including providing information on prospective renters to property owners and property managers.