TransUnion Credit Bureau is one of the big three credit bureaus. They keep a record from all your lenders about your accounts.
They will record all late payments, missed payments, balance, and all other important information. The lenders send all the information to the credit bureaus.
This data is what is shown on your credit report. Future creditors and employers can look at these reports.
This company was founded in 1968. But, back then it was 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 began to take the shape of the company we know today. Throughout the 1970s and 1980s, they continued to expand.
In 1988, they achieved full coverage in the United States, holding information on every active consumer in the country. Today, their reach extends to 25 countries on five continents.
It is privately operated, which means that it is not publicly traded. Their annual sales are in the billions.
It is a good idea to watch your credit report. To get yours free you can visit Annual Credit Report.
It is not uncommon for there to be a mistake on your report. It is estimated that 1 in every 4 Americans has an error.
If you have a mistake you should dispute it with the credit bureau. You need to create a dispute letter and give a reason why the item is in error.
When the credit bureau receives your letter and decides it is valid they will investigate. Often, errors are removed regardless of their accuracy.
The bothersome part is getting the bureau to investigate. Because they might have to spend current profits to investigate a dispute.
They have found it more cost effective to erroneously respond to dispute letters and try to frustrate the individual, instead of investigating. The Fair Credit Reporting Act says the 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.
