[T]ransUnion is one of the three credit bureaus which stores information about consumers and their credit history. It provides this information to creditors and to consumers. TransUnion was founded in 1968, and it now has more than 200 offices through the US and the world.
How TransUnion is Different
TransUnion is similar to the other two credit bureaus because it includes credit information and personal data for the consumer. The information is formulated into a credit report which can be provided to either the consumer or a creditor with the consumer’s permission.
Not all creditors report to each credit agency. Some creditors will only report to TransUnion and others won’t report to them at all. You may also notice that the balances on the reports vary as well because the creditors may report at different times.
You should be aware of these differences, but you should also report it if the information isn’t accurate. You can file a complaint directly with TransUnion, which will then be investigated. If the information is inaccurate, it will be corrected. If it cannot be validated, it may be removed.
What You Need to Do
You should request a copy of your TransUnion credit report at least once a year from www.annualcreditreport.com. You will receive the report for free, which allows you to check the information to see if it is accurate and updated.
It’s also a good idea to check your report before you apply for a credit card or loan because wrong information can prevent you from being approved. The information may look differently on each credit report, but it should be the same.
In addition to any credit or loan accounts you have, your previous and current addresses and employers may be listed. You may see other names you’ve gone by as well. Not all of this information is as important as your credit history, but it’s a good idea to fix any mistakes you find.
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