What are the 3 major credit reporting agencies

There are hundreds of credit reporting agencies in the United States which collect financial information, such as how much credit you use, student loan, medical debt, mortgage, bankruptcies, and even your bill payment history. Different financial institutions send your information to the three major credit reporting agencies. So what are the 3 major credit reporting agencies?

The three national credit reporting agencies in the US include Equifax, Experian and TransUnion. While there are hundreds of credit reporting agencies in the country, they do not carry weight in the decision-making of financial institutions when it comes to the denial of credit, approval of insurance or even employment.

Asking yourself what are the 3 major credit reporting agencies is necessary to know where to get your credit report. As stipulated by the Fair Credit Reporting Act of 1996, the credit reporting agencies are required to provide free credit report every 12 months. You can contact the three major credit reporting agencies below:

Equifax TransUnion Experian
P.O. Box 740241
Atlanta, GA 30374
800-685-1111
P.O. Box 1000
Chester, PA 19022
800-888-4213
P.O. Box 2002
Allen, TX 75013
1-888-397-3742

 It is important to take note that these agencies are all for-profit companies owned by private entities and shareholders. These are not funded by the government thus they are independent. Companies from all over the world can get consumer credit reports wherever they may be. Asking the question what are the 3 major credit reporting agencies is a way to understand what you need to know about these credit reporting agencies.

The three credit reporting agencies are competitors, thus they do not share credit information with one another except on special cases. Moreover, the different financial institutions do not send your financial history and transactions to all credit reporting agencies. This means that a credit report that you obtained from Equifax may be different from Experian or TransUnion. This is the reason why you need to get a free credit report from all three bureaus for comparison so that you can check for errors or possible fraud.

Understanding what the 3 major credit reporting agencies are is very important to know how to check your report and ensure  that it is accurate. You can get better terms with your credit company, bank or any financial institutions that you are currently transacting with.