Credit Reporting Agencies

There are three Credit Reporting Agencies

Equifax Credit Information Services

(800)-685-1111

Experian 800-682-7654

Trans Union 800-226-6214

The three agencies are information gatherers. They don't grant credit nor do they deny credit. They accumulate data on your credit history (loans, mortgages, credit cards, etc., and whether you pay on time or have been late), places of employment, places of residence, loans and credit cards applied for, and more.

Each Credit Reporting Agency has a formula that takes this information and assigns you a score. This number determines whether or not you will be granted credit and if so, at what interest rate and terms. This information is supplied to whomever asks for it - where you have applied for a loan or credit card, department store, apartment owner that you want to rent from, even a prospective employer.

Many people can get access to this "personal information." That is why it is crucial that you obtain a copy of your credit report and assure that the information contained therein is accurate.