14 Credit reporting companies

Credit Bureaus or Consumer Reporting Agency

In America Credit Bureaus, or Consumer Reporting Agency is a company that collects information from various sources and provides consumer credit information on individual consumers for a variety of uses.

Credit reporting agencies or CRA”s how do they work?

It is an organization providing information on individuals’ borrowing and bill-paying habits. Credit information such as a person’s previous loan performance is a powerful tool to predict his future behavior. Such credit information institutions reduce the effect of asymmetric information between borrowers and lenders, and alleviate problems of adverse selection and moral hazard.

For example, adequate credit information could facilitate lenders in screening and monitoring borrowers as well as avoid giving loans to high risk individuals. This helps lenders assess credit worthiness, the ability to pay back a loan, and can affect the interest rate and other terms of a loan.

how is interest rate determined?

Interest rates are not the same for everyone, but instead can be based on risk-based pricing, a form of price discrimination based on the different expected risks of different borrowers, as set out in their credit rating.

Consumers with poor credit repayment histories or court adjudicated debt obligations like tax liens or bankruptcies will pay a higher annual interest rate than consumers who don’t have these factors.

Additionally, decision-makers in areas unrelated to consumer credit, including employment screening and underwriting of property and casualty insurance, increasingly depend on credit records, as studies have shown that such records have predictive value.

What are Data Furnishers:

In the U.S Credit bureaus collect and aggregate personal information, financial data, and alternative data on individuals from a variety of sources called data furnishers with which the bureaus have a relationship.

Data furnishers are typically creditors, lenders, utilities, debt collection agencies and the courts, Public records that a consumer has had a relationship or experience with.

Public records that a consumer has had a relationship or experience with. Data furnishers report their payment experience with the consumer to the credit bureaus. The data provided by the furnishers as well as collected by the bureaus are then aggregated into the credit bureau’s data repository or files. 

The resulting information is made available on request to customers of the credit bureau for the purposes of credit risk assessment, credit scoring or for other purposes such as employment consideration or leasing an apartment. Given the large number of consumer borrowers, these credit scores tend to be mechanistic.

To simplify the analytical process for their customers, the different credit bureaus can apply a mathematical algorithm to provide a score the customer can use to more rapidly assess the likelihood that an individual will repay a given debt given the frequency that other individuals in similar situations have defaulted.

How often should you check your credit report?

We  advise individuals to review their credit reports at least once per year to ensure that the reports are accurate.

Top 14 National Consumer Reporting Companies (CRA) Chapter 14: (more)›

This is a list of CRA companies that report information about consumers to other reporting companies, one collect your info and also offer records to various other companies

Business. These companies use these reports to inform lenders regarding giving you credit, work, household rental housing, insurance policy, and also in various other decision-making scenarios. The listing below includes the 14 nationwide consumer reporting companies and also,

There are several others companies  that concentrate on a particular market areas and also consumer segments, to provide information to companies, this list is to help someone, by covering all that apply to you, from being a renter or getting auto insurance, or a job. however there are several companies on this list. So choose which applies for different reasons.

This list additionally makes it less complicated for you to take. Advantage of your legal civil liberties to (A) obtain the details in your credit report records, and (B).Disagreement though inaccuracies on your records with companies providing the harmful details that’s impacting your credit history.

How to freeze you credit ›

 Who can view your credit report 

What is a credit report?         

 A credit history report is simply A statement that has data and scores that shows  activity on how you’ve paid lenders and creditors and also existing credit history such as financing paying history and also the condition of your charge account.

The majority of people contain more than one credit score record. Credit rating reporting business, also referred to as credit report bureaus or customer coverage firms, collect along with keep economic information with regards to you that is sent to them by lenders, such as lenders, credit rating card business, and various other monetary lenders. Creditors do not have to report your history to every reporting CRA. 

Lenders utilize these records to assist them and to choose if they will lend you money, at  what rates of interest they will charge you based on your credit history, Lenders additionally utilize your credit scores report to figure out whether you will repay the loan at the terms and rate based on your credit history and scores.

Other organizations might use your credit score reports to figure out whether to offer you insurance coverage; rent out a residence or house to you; offer you with cable television, cell, energy, or internet phone company. It might likewise be used to make work choices about you if you agree to allow a company to look at your credit score record.

The Top 14 CRA’s

The three most popular credit reporting agencies ›

Equifax: (866) 349-5191

TransUnion: (800) 680-7289

Experian: (888) 397-3742

Freeze Your Report

Equifax: (800) 349-9960 Automated  Live (888) 298-0045

TransUnion: (888) 909-8872 Option 3

Experian: (888) 397-3742

Servicemembers and National Guard members, equifax, transunion, and experian, will provide free credit monitoring, by visiting the active duty military page of each company.

“Soft” vs “Hard” credit inquires, what’s the difference?

Let’s talk Credit › 

If you’re shopping for your next vehicle and considering financing, you may apply for credit more than once before finding the deal that works for you.

In the spirit of doing it right, we’re sharing some key insights provided by the credit experts below that help outline any impact multiple credit inquiries may have on your credit scores.

Equifax:

Soft vs. Hard Credit Inquiries SOFT inquiries, which can happen when you check your own credit or when a promotional credit card offer is generated, do not impact your credit score.

When a lender or company requests to review your credit report as part of the loan application process, that request is recorded on your credit report as a HARD inquiry, and it usually will have some impact on your credit score.

Exceptions To The Impact On Your Credit Score All new auto or mortgage loan inquiries will show on your credit report; however, if you’re shopping for a new auto loan, multiple inquiries are generally counted as one inquiry for a given period of time. 

This period of time may vary, depending on the credit scoring model used, but it’s typically from 14-45 days. This allows you to check different lenders to find the best loan terms that work for you.

This exception generally does not apply to other types of loans, such as credit cards. All inquiries for those types of loan will likely affect your credit score

Soft vs. Hard Credit Inquiries SOFT inquiries, which can happen when you check your own credit or when a promotional credit card offer is generated, do not impact your credit score.

When a lender or company requests to review your credit report as part of the loan application process, that request is recorded on your credit report as a HARD inquiry, and it usually will have some impact on your credit score.

When many inquiries are one:

Exceptions To The Impact On Your Credit Score All new auto or mortgage loan inquiries will show on your credit report; however, if you’re shopping for a new auto loan, multiple inquiries are generally counted as one inquiry for a given period of time. 

This period of time may vary, depending on the credit scoring model used, but it’s typically from 14-45 days. This allows you to check different lenders to find the best loan terms that work for you.

This exception generally does not apply to other types of loans, such as credit cards. All inquiries for those types of loan will likely affect your credit score.

Soft Inquiries:

Soft vs. Hard Credit Inquiries SOFT inquiries, which can happen when you check your own credit or when a promotional credit card offer is generated, do not impact your credit score.

Hard Inquiries:

When a lender or company requests to review your credit report as part of the loan application process, that request is recorded on your credit report as a HARD inquiry, and it usually will have some impact on your credit score.

Exceptions To The Impact On Your Credit Score All new auto or mortgage loan inquiries will show on your credit report; however, if you’re shopping for a new auto loan, multiple inquiries are generally counted as one inquiry for a given period of time. 

This period of time may vary, depending on the credit scoring model used, but it’s typically from 14-45 days. This allows you to check different lenders to find the best loan terms that work for you.

This exception generally does not apply to other types of loans, such as credit cards. All inquiries for those types of loan will likely affect your credit score.

Experian:

Car shopping inquires Q & A:

Q. Why are there several inquiries on a consumer’s credit report after a day of car shopping? Is it right for all these inquiries to be on their report so long from just one day of shopping for a car?

A. When shopping for a car, it is common for auto dealers to submit their information to multiple lenders in an effort to find the lowest interest rate and most favorable loan terms. 

This practice allows the consumer to benefit from lenders competing for their business. 

The same practice is used for mortgage lending. Each time their credit report is reviewed by a different lender, an inquiry will appear showing who accessed the report and for what purpose. 

How long does a inquiries stay on my credit report?

Experian lists each inquiry that is made into a consumer’s file for two years, so that they have a complete record of who has reviewed their credit history.

Lenders know that multiple applications for a car loan within a short period of time indicate a consumer is shopping for the best terms, not buying multiple cars. 

Therefore, as long as the inquiries were all made within a certain period of time, usually 14 days but sometimes longer, they are counted as just one inquiry when calculating their score.

 

CRA: Credit reporting agencies, who are they, how many and what is it that they do? (more cra’s)›

We’re already familiar with the top 3 Equifax, TransUnion and Experian. Well there’s more reporting agencies and they report from getting a checking and saving account, medical, rental, jobs, payday loans, there are CRA’S for just about anything that requires your credit to be checked.

This is a list of CRA companies that report information about consumers to other reporting companies, one collect your info and also offer records to various other companies

Business. These companies use these reports to inform lenders regarding giving you credit, work, household rental housing, insurance policy, and also in various other decision-making scenarios.

The listing below includes the 14 nationwide consumer reporting companies and also,

Several others that concentrate on particular market areas and also consumer segments, this list is not,

Planned to be extensive, however there are several companies in it. We give you with tips so you

Can establish which may be vital to you. This list additionally makes it less complicated for you to take

Advantage of your legal civil liberties to (A) obtain the details in your credit report records, and (B).

Disagreement though inaccuracies on your records with companies providing the harmful details that’s impacting your credit history.

Top 3 Credit Reporting Agencies / CRA'S

Equifax: (866) 349-5191

TransUnion: (800) 680-7289

Experian: (888) 397-3742

Freeze Your Report

Equifax: (800) 349-9960 Automated  Live (888) 298-0045

TransUnion: (888) 909-8872 Option 3

Experian: (888) 397-3742

Servicemembers and National Guard members, equifax transunion and experian will provide free credit monitoring, by visiting the active duty military page of each company.

Employment /CRA's

 ADP Screening & Sele-ADP Screening & Selection Services, Inc.

Provides background screening services

The company will provide a free report completed in the past two years if you request it and if the company has a file on you.

You can also call to request a report older than two years.

 Website adpselect.com

 Phone 800-367-5933

 Address: ADP Screening & Selection Services, Inc. 301 Remington Street Fort Collins, CO 80524

Tenant Screening / CRA'S

Real Page, Inc. (Leasing Desk)

Provides consumer data and “AI-enabled” risk scores, with a focus on identity verification, tenant history (rent payments and evictions), check writing history, as well as criminal public record searches for property-, animal-, violence-, and fraud-related criminal activity.

Real Page is being acquired by Thoma Bravo LP.

Free report: 

The company will provide one free report every 12 months if you request it.

Freeze your report:

The company will freeze your consumer report if you request it.

Website RealPage.com

Phone 866-934-1124

Address Leasing Desk Screening Attn: Consumer Relations 2201 Lakeside Blvd. Richardson, TX 75082

Checking And Banking Screening /CRA's

ChexSystems 

Provides account verification services primarily for financial institutions.

Collects and reports data on checking account applications, openings, and closures, including reasons for account closure.

ChexSystems is affiliated with Fidelity National Information Services, Inc. (FNIS).

Free report and score:

The company will provide one free report every 12 months if you request it.

A free score will be provided upon request too.

Freeze your report: 

The company will freeze your consumer report if you request it. 

Website chexsystems.com 

Request report form Request score form Security freeze information Security freeze form

Phone 800-428-9623 or 800-513-7125

Address ChexSystems, Inc. Attn: Consumer Relations 7805 Hudson Road, Suite 100 Woodbury, MN 55125

Auto & Property Insurance / CRA'S

Auto & Property Insurance

LexisNexis C.L.U.E. (Comprehensive Loss Underwriting Exchange)

LexisNexis C.L.U.E. (Comprehensive Loss Underwriting Exchange)

Is a claims history information exchange.

It collects and reports up to seven years of auto and personal property claims respectively. Data provided include policy information such as name, date of birth and policy number; and claim information such as date of loss, type of loss and amounts paid, and property information.

LexisNexis C.L.U.E. Inc. is affiliated with LexisNexis Risk Solutions.

Free report: 

The company will provide one free report every 12 months if you request it.

Freeze your report:

The company will freeze your consumer report if you request it.

Website: consumer.risk.lexisnexis.com 

Request security freeze: click on “U.S. Consumer Reports”

Phone: 888-497-0011 

Address: LexisNexis Risk Solutions Consumer Center P.O. Box 105108 Atlanta, GA 30348-5108

Medical-MIB /CRA's

Medical (CRA’)

MIB, Inc.

Collects information about medical conditions and hazardous avocations with your authorization. It reports this information to life and health insurance companies to assess your risk and eligibility during the underwriting of individual life, health, disability income, critical illness, and long-term care insurance policies.

Generally, you will not have an MIB consumer report unless you applied for individually underwritten life or health insurance at an MIB member insurance company within the past seven years.

 MIB, Inc. is a subsidiary of MIB Group, Inc. 

Free report:

The company will provide one free report every 12 months if you request it.

 Website MIB.com Request report 

 Phone 866-692-6901

 Address MIB, Inc. 50 Braintree Hill Park Suite 400 Braintree, MA 02184-8734

 

Payday Lenders / CRA'S

CoreLogic Teletrack

 Collects consumer information about, and provides data to, payday lenders, rent-to-own businesses, furniture stores that offer financing.

Auto finance and leasing companies, high risk consumer finance businesses, subprime home lending businesses, subprime credit card issuers, banks, credit unions, cable/telecom companies and debt buyers/collectors.

Free report: The company will provide one free report every 12 month if you request it.

Freeze your report: The company will freeze your consumer report if you request it.

Website: CoreLogic.com/teletrack Request report Request security freeze.

Phone: 877-309-5226

Address: CoreLogic Teletrack P.O. Box 509124 San Diego, CA 92150 Attn: Consumer Disputes Department

LexisNexis Risk Solutions /CRA's

LexisNexis Risk Solutions

LexisNexis Risk Solutions Collects information from public records and multiple proprietary data sources.

This includes items such as real estate transaction and ownership data, lien, judgment, and bankruptcy records, professional license information, and historical addresses on file.

Free report: The company will provide one free report every 12 months if you request it.

Freeze your report: The company will freeze your consumer report if you request it. 

Website consumer.risk.lexisnexis.com

Request security freeze (click on “U.S. Consumer Reports”) 

Phone 888-497-0011

Address LexisNexis Risk Solutions Consumer Center P.O. Box 105108 Atlanta, GA 30348-5108

SageStream/ CRA'S

SageStream (subsidiary of ID Analytics, LLC)

This reporting company collects information from, and provides supplementary consumer reports to, auto lenders, credit card issuers, retailers, utilities and mobile phone service providers among other service providers.

SageStream is a subsidiary of ID Analytics. ID Analytics is owned by LexisNexis Risk Solutions.

Free report and score: The company will provide one free report every 12 months if you request it. 

The company will also provide a credit risk score if you request it.

Freeze your report: The company will freeze your consumer report if you request it.

Website SageStream Request report Request score Request security freeze

Phone 888-395-0277

 Address SageStream, LLC Consumer Office P.O. Box 503793 San Diego, CA92150

 

Innovis /CRA's

Innovis

Provides ID verification data to assist with fraud detection and prevention. Free report:

The company will provide one free report every 12 months if you request it. 

Freeze your report: The company will freeze your consumer report if you request it.

Website: Innovis.com Request security freeze

Phone: 800-540-2505 

Address: Innovis Consumer Assistance P.O. Box 1689 Pittsburgh, PA 15230-1689

Utilities/ CRA'S

Utilities CRA’s

National Consumer Telecom & Utilities Exchange (NCTUE

This membership of companies collects information on new telecom and utility connection requests, account and payment histories including delinquencies and charge-offs,

Associated with telecommunications, pay TV, and utilities, electric, gas, water services to help companies in these industries manage customer relations.

Free report: The company will provide one free report every 12 months if you request it.

Freeze your report: The company will freeze your consumer report if you request it.

Website NCTUE.com

Phone: 866-349-5185 866-343-2821 for security freeze

Address: NCTUE Disclosure Report Exchange Service Center – NCTUE P.O. Box 105161 Atlanta, GA 30348

NCTUE Security Freeze Exchange Service Center – NCTUE P.O. Box 105561 Atlanta, GA 30348

Factor Trust /CRA's

FactorTrust

Collects loan performance information on non prime consumers to provide predictive credit data, analytics and risk scoring solutions to short term lenders, installment lenders, non prime auto lenders (and leasing companies) and other subprime credit providers.

FactorTrust is owned by TransUnion.

Free report: The company will provide one free report every 12 months if you request it.

Freeze your report:

The company will freeze your consumer report if you request it.

Website: factortrust.com Request security freeze.

Phone: 844-773-3321

Address: FactorTrust, Inc. Attn: Consumer Inquiries P.O. Box 3653 Alpharetta, GA 30023

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