Credit Bureaus Obtain Data from Various Sources Including Creditors and Public Records

Credit bureaus obtain data from various sources to create your credit report. This data includes information from creditors, who report your payment history and account details.

Creditors are not the only ones providing information to credit bureaus. Public records, such as court judgments and tax liens, are also included in your credit report.

These public records can have a significant impact on your credit score, as they indicate potential financial issues or disputes. For example, a court judgment against you can lower your credit score.

Credit bureaus also obtain data from other sources, including collection agencies and government agencies.

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Credit bureaus collect data from a variety of sources, including creditors who report payment history and account information. This information can include a list of current and past credit accounts, payment history, and negative marks such as collections, bankruptcies, and repossessions.

Creditors may report to one, two, or all three major credit bureaus: Equifax, Experian, and TransUnion. This means that your credit report at each bureau can vary a bit from the others.

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Credit bureaus also collect data from public records, including repossessions, bankruptcy filings, and foreclosures. Additionally, some creditors report to other credit bureaus, such as ChexSystems, which collects information on closed checking and savings accounts.

Here are some examples of credit bureaus and the types of data they collect:

The three major credit bureaus are Equifax, Experian, and TransUnion. They gather and maintain data on consumers' credit use, which means if you have a credit card or a loan, you probably have a credit file with one, two, or all three major credit bureaus.

These credit bureaus can collect and sell information on your consumer credit behavior without your consent. Businesses that check your credit, such as credit card issuers and lenders, must have a legitimate reason to look at your credit file.

Equifax, Experian, and TransUnion are sometimes called credit reporting agencies. They collect data from various sources, including suppliers, lenders, and public records.

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ChexSystems collects and reports information on closed checking and savings accounts. This information can be used to evaluate your creditworthiness.

LexisNexis provides reports to lenders with information that Experian, TransUnion, and Equifax don't collect. This can be especially useful for lenders who want a more comprehensive view of your credit history.

C.L.U.E. Inc. collects insurance-related information and creates consumer auto and personal property reports. These reports can be used to evaluate your creditworthiness and determine your insurance risk.

CoreLogic supplies tenant screening reports to landlords. These reports may include any history of evictions and a background check, which can be used to evaluate your creditworthiness and determine your eligibility for a rental property.

These alternative credit bureaus may not be as well-known as Experian, TransUnion, and Equifax, but they can still have a significant impact on your credit score and financial decisions. It's essential to be aware of their existence and how they may be affecting your credit.

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Here's a list of some other credit bureaus to be aware of:

Credit bureaus get their data from a variety of sources, including creditors who report how you handle accounts, such as payment history. This information is typically reported to one, two, or all three of the major credit bureaus.

Creditors may report to one or more of the major credit bureaus because it helps them make informed lending decisions. This is why your credit report at each bureau can vary slightly from the others. Some creditors, however, may not report to the credit bureaus at all.

Public records, such as repossessions, bankruptcy filings, and foreclosures, are also a source of data for credit bureaus. These types of accounts can end up on your report if there's a payment problem that leads to a debt collection.

Here are some specific types of data that creditors may report to credit bureaus:

Additionally, credit bureaus may collect data from other sources, including:

It's worth noting that not all types of accounts are reported to credit bureaus, such as utilities and rent. However, if there's a payment problem that leads to a debt collection, these types of accounts can still end up on your report.

Credit bureaus collect a wide range of information about you. They gather identifying information such as your name, birthdate, Social Security number, and addresses (past and present).

This information comes from various sources, including creditors who report how you handle accounts, including payment history. Creditors may report to one, two, or all three major credit bureaus, so your credit report at each bureau can vary a bit from the others.

In addition to creditor reports, credit bureaus also collect data from public records, such as repossessions, bankruptcy filings, and foreclosures.

Here are some examples of the types of data credit bureaus collect:

Other types of data that may be included in your credit report include rental payments, phone, streaming services, and utility payments.

Credit bureaus collect a lot of information about you, but what do they do with it? Let's break it down.

They use the information to calculate credit scores, which can affect the interest rate you get on a loan or credit card.

This data also helps lenders decide whether to offer you credit and at what interest rate.

In some cases, credit bureaus share your information with potential employers, so they can use it in pre-employment background checks.

You can even use your credit report to help you lease an apartment or a car.

Insurance companies may also use your credit report to set your rates.

If you're new to a utility company, they might require a deposit based on your credit report.

Here are some of the ways credit bureaus use the information they collect: