Review of the TransUnion Credit Bureau
TransUnion Credit Bureau is one of the big three credit bureaus. They keep a record from all your lenders about your accounts.
They can record any late payments, missed payments, balance, and all other pertinent information. The lenders send this data to the bureaus.
This information is what is shown on your credit report. Future lenders and employers can look at this.
They were founded in 1968. But, back then they were known as Union Tank Car Company, a rail car leasing operation.
That company made TransUnion its parent holding company. Over the next 30 years they became one of the world's leading company intelligence providers maintaining one of the largest collections of consumer information.
In 1969, they acquired the Credit Bureau of Cook County, and started the company we know today. Throughout the 1970s and 1980s, they continued to expand.
In 1988, it achieved full coverage in the United States, keeping information on every active consumer in the country. Today, they extend to 25 countries on five continents.
It is privately held, meaning that it is not publicly traded. Their annual sales are in the billions.
It is an excellent idea to watch your credit report. To get a free credit report you can visit Annual Credit Report.
It is not uncommon for there to be an error on your credit report. An estimated that 1 in every 4 Americans has an error.
If you notice an error you should dispute it with the bureau. You must make a dispute letter and provide the reason why the item is in error.
When the bureau receives your letter and deems it valid they will investigate. Often items are removed regardless of their accuracy.
The difficult part is getting the bureau to investigate. This is because they must spend potential profits to investigate a dispute.
They have found it more cost effective to erroneously respond to dispute letters and try to irritate the individual, instead of investigating. The Fair Credit Reporting Act says the credit bureaus must investigate a dispute.
This is why many consumers who wish to remove questionable items on their report will employ a service to dispute it on their behalf.
If you have a mistake on your report you should file a dispute with the bureau. You can do this yourself with a dispute letter or by hiring a service.
They can record any late payments, missed payments, balance, and all other pertinent information. The lenders send this data to the bureaus.
This information is what is shown on your credit report. Future lenders and employers can look at this.
They were founded in 1968. But, back then they were known as Union Tank Car Company, a rail car leasing operation.
That company made TransUnion its parent holding company. Over the next 30 years they became one of the world's leading company intelligence providers maintaining one of the largest collections of consumer information.
In 1969, they acquired the Credit Bureau of Cook County, and started the company we know today. Throughout the 1970s and 1980s, they continued to expand.
In 1988, it achieved full coverage in the United States, keeping information on every active consumer in the country. Today, they extend to 25 countries on five continents.
It is privately held, meaning that it is not publicly traded. Their annual sales are in the billions.
It is an excellent idea to watch your credit report. To get a free credit report you can visit Annual Credit Report.
It is not uncommon for there to be an error on your credit report. An estimated that 1 in every 4 Americans has an error.
If you notice an error you should dispute it with the bureau. You must make a dispute letter and provide the reason why the item is in error.
When the bureau receives your letter and deems it valid they will investigate. Often items are removed regardless of their accuracy.
The difficult part is getting the bureau to investigate. This is because they must spend potential profits to investigate a dispute.
They have found it more cost effective to erroneously respond to dispute letters and try to irritate the individual, instead of investigating. The Fair Credit Reporting Act says the credit bureaus must investigate a dispute.
This is why many consumers who wish to remove questionable items on their report will employ a service to dispute it on their behalf.
If you have a mistake on your report you should file a dispute with the bureau. You can do this yourself with a dispute letter or by hiring a service.
About the Author:
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posted by Debt Consolidation Loan at
1:23 AM
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