What is my position in the market? Is my credit standing high or low
? What is my credit score? These are the question which normally arises in the mind of the consumers. But from where one can get this information. It is very simple to get this information. There are three agencies which will provide you with yearly credit report. The business person, various financial institutions and the common people will not have to spend their money on getting these reports. These legal documents are free of cost and contain true and fair information.
The three agencies- Equifax, Experian and TransUnion are the bureaus which operate in America and make available the credit report to the customers. These bureaus are the organization which gives free information on credit to the customers free of charge. However, the information offered by these agencies may not be similar. They have their individual way of formatting these reports to their clients.
Out of the three, Equifax is the only credit reporting agency which provides its customers with their credit report once a year in column format. It means that these reports are simple and easier to understand. They separate out the accounts with the different collection agencies.
The Experian agency goes over the main points of the contents and divides yearly credit report into two groups. The first section includes the list of creditors who have received your report for contribution of credit and second for their individual function of marketing.
The TransUnion is the agency which gives you the information yearly by breaching it into a number of subsections like public Records, accounts with negative marks, Accounts without negative marks and so on.
The Credit reports presented by these bureaus are beneficial for all the consumers to know their credit standing and to the suppliers of money to know the creditworthiness of the customers.