Creditors make regular reports about their customers to the credit report agencies. These reports include everything from timely payments to missed payments and charge-off accounts. The credit bureaus compile this information into a single report about an individual and use it to determine a credit score. Other lenders looking to extend credit, employers and landlords request this score from the credit reporting company to determine a person's credit worthiness. Individuals can also request this information and the three major credit reporting companies offer products to help consumers monitor or improve their credit.
Equifax
Equifax is a publicly trade credit reporting company headquartered in Atlanta, Georgia. They employ thousands of people across North America, Europe and Latin America. In addition to creating consumer credit reports, the company offers tools for people looking to monitor or improve their credit rating. Their identity protection service, Equifax ID Patrol, offers credit monitoring and notification alerts for a monthly fee. For customers wanting to pay down personal debts, the Debt Wise monthly program combines the customer's credit score and report with an automatic payment plan wizard to help pay down debts. Equifax also offers two monthly programs that allow customers to view their credit reports and scores from the major credit reporting companies.
Experian
Experian prepares and delivers personal credit reports. They also offer one-time credit report and score purchases from their own company as well as the other credit report companies. Experian's Triple Advantage credit monitoring service gives consumers a copy of their Experian credit report and score as well as monthly credit monitoring. The Experian website offers free credit advice to consumers. Consumers can review information about credit scores, credit reporting, fraud prevention and general credit questions. They also offer an online credit dispute form for people who wish to dispute information on their credit report.
TransUnion
According to TransUnion, they monitor credit histories for nearly 500 million people. The reporting company, with headquarters in Chicago, provides credit reporting services to businesses and individuals. The company offers single credit report orders for individuals or consumers can join the monthly credit monitoring service, Truecredit. The monthly monitoring services gives the consumer three credit reports and scores from the major monthly bureaus and then updates those scores every 30 days.
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