Finder maintains full editorial independence to ensure for our readers a fair assessment of the products, brands, and services we write about. That independence helps us maintain our reader's trust, which is what keeps you coming back to our site. We uphold a rigorous editorial process that ensures what we write and publish is fair, accurate, and trustworthy — and not influenced by how we make money.
We're committed to empowering our readers to make sound and often unfamiliar financial decisions.
We break down and digest information information about a topic, product, brand or service to help our readers find what they're looking for — whether that's saving money, getting better rewards or simply learning something new — and cover any questions you might not have even thought of yet. We do this by leading with empathy, leaning on plain and conversational language that speaks directly, without speaking down.
Financial stability plays a huge part in determining whether you’re approved for new credit. While lenders use all the information in your application to determine approval, they heavily rely on your credit reports and credit scores. Your credit report is created and held by credit bureaus; the three major ones are Equifax, Experian and TransUnion. These agencies collect your financial and credit information and make it accessible to lenders and other inquirers.
What are the main credit bureaus?
The three major credit bureaus in the US are Experian, Equifax and TransUnion. All three credit bureaus are regulated by the Fair Credit Reporting Act (FCRA). There is a smaller credit bureau, called Innovis, but the main three are the most referenced bureaus.
How do the major credit bureaus work?
Credit reporting agencies, or CRAs, gather and track and organize your credit information into a comprehensive report. They sell these credit reports to lenders that need access to an applicant’s credit history to decide whether to grant them new credit and, if so, on what terms.
How do credit reporting agencies receive my information?
Credit bureaus can receive your personal information in a number of ways:
From creditors and businesses. Most credit providers send your account information to credit reporting agencies to be noted on your report. This includes information such as the account’s open and close dates, payment information and defaults.
Collecting data. Credit bureaus dig through government information and records or buy data from a smaller credit reporting agency to create a more detailed credit report.
Public information. Publicly accessible information, such as court judgments and bankruptcy information, is also included in your report.
Unless you’ve held or applied for a credit account in the US, you probably won’t have a credit report.
Do credit bureaus calculate my credit score?
No, your credit score is calculated by FICO or VantageScore, which are two widely used credit scoring models.
Credit bureaus compile and provide your credit history. This history includes your active accounts, balances and payments due, age of accounts and your requests for new credit. Bankruptcies and delinquencies are also included. Using this information from a credit report, the credit-scoring models generate a three-digit credit score (300 to 850), making your credit score a snapshot representation of your credit report.
While credit bureaus don’t “make” your credit score, they may offer to generate your credit score from FICO and VantageScore from their respective credit report. For example, the bureau Experian lets you check your Experian-generated FICO Score 8, with no fees.
Credit bureaus operate similarly, and one is not better than the other. However, some lenders or services only report to one or two agencies, so your credit report may be slightly different with each bureau.
The three major credit bureaus operating in the US are:
Equifax. This credit bureau provides personal and business credit reports, and it also offers business risk information and financial marketing and analytical services. In 2017, Equifax suffered a cyberattack that compromised the personal information of over 2 million consumers.
Experian. As the largest credit reporting agency in the US, Experian handles the credit information of 235 million consumers. It also offers a checking account and Experian Boost®, a credit-building product.
TransUnion. This is the smallest credit reporting agency of the “Big Three,” but it offers a more extensive employment history record. Banks can use this information to verify your employment data when you apply for a personal loan or credit card.
Thanks to the FCRA, you’re entitled to one free credit report from each of the three major credit bureaus once every 12 months. However, all three major bureaus now offer free reports weekly, which you can get easily through the government-backed website AnnualCreditReport.com.
Each credit bureau can also offer credit monitoring (usually for a price). Credit monitoring typically lets you access their credit score and report, plus added protection in the form of credit alerts via email or text and the ability to freeze your credit file.
How to contact the major credit bureaus
If you find any incorrect information on your credit report, contact the credit agency to dispute the error by phone, mail or online.
If you suspect your identity has been stolen or someone else is using your credit, request a credit freeze. You’ll need to create an account to do so, but it will protect your credit from further damage.
TransUnion Consumer Solutions PO Box 2000 Chester, PA 19016-2000
Bottom line
The three major credit reporting agencies operate similarly in that they all provide an individual’s credit history to creditors. However, they also have some key differences — like whether they include your employment history.
If you discover inaccurate information on your credit report, file a dispute with the major credit bureaus and get it cleared up as soon as possible so you’re not negatively affected when trying to prove your creditworthiness down the road.
Holly Jennings is the deputy crypto editor and updates writer at Finder, working with writers across all niches to deliver quality content to readers. She’s edited hundreds of financial articles ranging from credit cards to investments. With empathy at heart, she especially enjoys content that breaks down complex financial situations into easy-to-understand information. Prior to her role at Finder, she collaborated with dozens of small businesses to maximize the reach and impact of their blog posts, website copy and other content. In her spare time, she is an award-winning author for Penguin Random House, writing about virtual reality worlds, magical girls and lasers that go pew-pew.
See full bio
Holly's expertise
Holly
has written
43
Finder guides across topics including:
Kyle Morgan is SEO manager at Forbes Advisor and a former editor and content strategist at Finder. He has written for the USA Today network and Relix magazine, among other publications. He holds a BA in journalism and media from Rutgers University.
See full bio
A good credit score falls in the 670 to 749 range. A credit score of 750 and above is considered very good or excellent.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
