What Are Credit Reporting Agencies

Credit Bureaus
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2
 Min read
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February 14, 2020

Have you ever asked yourself what a credit reporting agency actually does?If you’re like most people, you probably haven’t.But that’s important to know.Why?Because credit reporting agencies create reports detailing people’s financial history and then sell that data to businesses.And credit reports basically help companies figure out if someone is likely to be a responsible borrower.The data in credit reports is often the basis of your credit score.There really are three credit reporting agencies you need to know about:

  1. Equifax

Equifax offers three main consumer products, which range from the ability to view your Equifax credit report as often as you’d like to the ability to receive alerts when changes are made on any of your credit reports from the three CRAs to identity theft protection and more.These services are packaged into a few main products called Equifax Complete™ Premier, Equifax Complete™ Family Plan, Equifax ID Patrol™, Score Watch®, and Lock & Alert™.

  1. Experian

Experian offers quite a few consumer products, which are broken down into the following: CreditWorks℠ Basic, CreditWorks℠ Premium, 3-Bureau Credit Report and FICO® Scores, IdentityWorks℠ Plus, and IdentityWorks℠ Premium.These products range from identity theft protection to being able to monitor your credit reports and scores on the regular, and more.

  1. TransUnion

TransUnion’s main consumer product is TransUnion Credit Monitoring, which enables you to receive alerts on updates to your credit, obtain a personalized debt analysis, utilize their Credit Score Simulator Tool to aid in future financial decisions, and more.As you might have already gathered, the fact that there are three different CRAs means everyone with a credit report likely has three different credit reports. What’s more, one person’s three credit reports aren’t guaranteed to be identical to each other.When a company reports your financial activity to CRAs, they get to pick which CRAs they want to work with.They might choose one or more, but they aren’t required to work with all three.Therefore, staying on top of your credit reports means regularly reviewing all three of them.That’s why we recommend using a tool like Dovly Plus.

It will help you get your credit score, summary, and get a clear view of what you need to do to improve your credit.It also comes with:-    Unlimited Credit Disputes-   3 Bureau Credit Monitoring-    Access to Credit Score-    24/7 Credit Portal Access-    Chat & Email SupportAll of that for just $49.99.Sounds interesting?Then join us today at https://www.dovly.com/home

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