Key takeaway: Equifax, Experian and TransUnion are the most well-known consumer credit bureaus, but there are hundreds of other consumer-reporting companies that are also involved in the credit industry.
In addition to Equifax, Experian and TransUnion, there are hundreds of other consumer reporting agencies.
When you check or monitor your credit, Equifax, Experian and TransUnion are usually the credit bureaus you’ll see mentioned. If you want to review your reports from two of these bureaus, you can use Credit Karma, which provides free credit reports and VantageScore 3.0 credit scores from Equifax and TransUnion.
While Equifax, Experian and TransUnion are known as the major credit bureaus, they’re not the only ones. There are hundreds of other consumer reporting agencies, including more credit bureaus. Smaller bureaus, such as Clarity Services, ChexSystems and MicroBilt/PRBC, also provide reports that lenders can use to help make decisions.
Here’s why it’s important to know about these other consumer reporting companies and what they could mean to your creditworthiness.
- Equifax, Experian and TransUnion: What do these credit bureaus do?
- How many other credit bureaus are there?
- What are the other consumer-reporting companies?
- Why are there so many consumer-reporting companies?
- Does it matter which bureau I get my credit report from?
- How to get your credit reports from credit bureaus
- How to get your credit scores from credit bureaus
- Next steps: Check your credit reports
- FAQs about credit bureaus
Equifax, Experian and TransUnion: What do these credit bureaus do?
As the three major consumer credit bureaus, Equifax, Experian and TransUnion collect credit history information from people throughout the country. They then compile that information into credit reports, which are used to generate credit scores and help lenders make decisions when you apply for credit.
The typical data found on credit reports includes:
- Personal information, such as a person’s name and address.
- Financial information, including credit accounts, payment history, account balances and credit inquiries.
- Public records, such as bankruptcies and accounts moved into collections.
Why aren’t all of my credit reports and credit scores the same?
It’d be easier to keep track of credit reports and credit scores if they were all the same, but that’s not the case. Here’s why your scores and reports may be different:
- Lenders don’t always report to each credit bureau at the same time. They typically send updates in monthly batches tied to your billing cycle, and those schedules can vary by lender and by bureau. That means your scores may vary across bureaus and credit scoring models.
- Lenders don’t always report to all three credit bureaus. While many lenders report to all three credit bureaus, some don’t. If your lender only reports to two out of three, for example, then one report will be missing information, and any scores generated from the information in that report will be skewed.
- Lenders may have reported incorrect information. If a lender reported something incorrectly to one of the credit bureaus but not the others, your credit reports and scores may differ.
- Credit scores vary based on the credit scoring model used to calculate them. While all your credit scores are calculated using information in your credit reports, they’re not all calculated the same way. This means your scores may differ, depending on the scoring model.
How many other credit bureaus are there?
Credit bureaus are a type of consumer reporting company. There are about 400 consumer reporting companies in the U.S., according to the Consumer Financial Protection Bureau. While the agency hasn’t published a complete list of all 400-plus consumer-reporting companies, it does keep an up-to-date list of about 60 prominent ones.
In addition to these credit-reporting companies, there are a variety of other agencies that report on alternative financial products and services, including checking accounts and payday loans.
What are the other consumer reporting companies?
While the three major consumer credit bureaus get the most attention, smaller consumer reporting companies may also be used from time to time depending on your lender and your situation. Some of the other players include:
- Cotality Credco
- Clarity Services
- ChexSystems
- SageStream (subsidiary of ID Analytics LLC)
- Innovis
- LexisNexis Risk Solutions
- MicroBilt/PRBC
Why are there so many consumer reporting companies?
Credit is a big business in the United States, spanning industries like:
- Student loans
- Auto loans
- Mortgages
- Credit cards
- Apartment rentals
- Employment screening
- Medical billing
Some consumer reporting companies specialize in particular industry data, while others simply provide an additional source of information for lenders.
MicroBilt/PRBC, for example, offers services to help provide credit information on borrowers with little to no typical credit activity, often called a thin file. LexisNexis Risk Solutions collects information from public records and other proprietary data sources, like professional license information and real estate transaction data.
Does it matter which bureau I get my credit report from?
In some cases, it makes sense to get your credit reports or scores from a specific bureau before you apply for credit. If you’re able to talk to the lender and find out which credit bureaus it uses, you can pull reports from those bureaus to check for errors before you apply for a loan with that lender.
Also, if you can see the same scores and reports that your lender will use, you may be able to get an idea about your chances of approval based on that specific lender’s credit requirements.
How to get your credit reports from credit bureaus
To get your credit reports from Experian, Equifax and TransUnion, you can:
- Request your reports directly from each bureau. They are required by law to provide you with a free report upon request once every 12 months. You can also purchase a credit report from them at any other time.
- Request your reports on annualcreditreport.com. You can use this government-authorized website to get free weekly copies of your credit reports from each credit bureau.
You’re also entitled to a free copy of your report if an adverse action is taken against you based on information in that report. Once you find out an adverse action has been taken — like a loan denial — you should receive an adverse action notice telling you the reason for the denial, which reporting company was used, and how to request your free report from that company.
How to get your credit scores from credit bureaus
All three major credit bureaus — Equifax®, Experian® and TransUnion® — offer access to credit scores, sometimes for free and sometimes as part of a paid service. Credit scoring companies such as FICO also sell access to specific scores, including certain FICO® Score versions.
You may be able to get a free credit score through your bank, credit card issuer or another lender you already use. If you’re looking for a particular score, like FICO® Score 8 or VantageScore® 4.0, check with the provider to see which scoring model it offers.
With a Credit Karma account, you can see your VantageScore® 3.0 credit scores from Equifax and TransUnion for free.
Next steps: Check your credit reports
First, make sure you’ve checked your credit reports from the three major credit bureaus within the past 12 months.
You can get free copies of your credit reports from all three major credit bureaus by going to annualcreditreport.com. You can check free TransUnion and Equifax credit reports, as well as free VantageScore® 3.0 credit scores, on Credit Karma.
Your credit reports all reflect your credit history in some way, no matter which bureau they come from. By paying your bills on time, keeping your credit accounts in good standing and resolving report errors when you spot them, your credit profile should be in good shape, regardless of which credit reports your lenders pull.
FAQs about credit bureaus
You can get free credit reports weekly from Experian, Equifax and TransUnion by visiting annualcreditreport.com. By law, the three major credit bureaus are required to provide a free copy of your credit report once every 12 months, but thanks to a permanent extension of a COVID-19-era program, the credit bureaus now offer free copies weekly.
Yes, Innovis is a real credit bureau and is often considered the fourth major credit bureau behind Experian, Equifax and TransUnion. Unlike the other three, Innovis doesn’t provide credit scores or sell credit reports to lenders for the purpose of making lending decisions. Instead, it focuses on verifying consumer information and collecting data not necessarily seen on other credit reports. Businesses can use this data to reach new customers or improve their marketing.
No, not every bank reports to every credit bureau. Many banks report to all three of the major credit bureaus, but some only report to one or two. You can reach out to your bank and ask them which bureaus they report your information to and when.