what do equifax, experian, and transunion do?
- compile credit reports on individuals
- ensure no one is able to see their credit report
- help you to improve your credit score
- decide whether to approve or reject a loan application
- Equifax, Experian, and TransUnion are three major credit bureaus that compile credit reports on individuals, which include information on their credit history, payment history, outstanding debts, and other relevant financial data.
- They do not prevent anyone from viewing their own credit report, but they do provide resources and information on how to monitor and dispute any inaccuracies that may appear on the report.
- While they do not directly help individuals improve their credit score, they do provide information and resources on how individuals can take steps to improve their creditworthiness and overall credit score.
- Lenders and financial institutions use credit reports from these bureaus to evaluate an individual's creditworthiness and determine whether to approve or reject a loan application.