What is a credit bureau?
Credit bureaus keep track of your credit usage and history, then present it to a lender when you apply for credit. There are three main credit bureaus: Experian, Equifax, and Transunion.
What do credit bureaus do?
Credit bureaus will gather information on your credit history and share it with financial institutions or other parties. For example, real estate and auto companies will receive your credit history when you apply for mortgages and auto loans. They will use your information to determine your eligibility for credit.
How do I run a credit check?
You are entitled to one free credit check every year from each of the main three credit bureaus. Experian credit reports are free, but you will need to pay for Equifax and TransUnion.
If you notice incorrect information on your credit report, it’s in your best interest to dispute it right away. You report it online, where you had the credit report done.