Experian is a British-based credit card information agency, which got into the U.S. credit market in 1996 with its acquisition of TRW Information Services. Experian is considered one of the big three U.S. credit information institutions, though it is younger than TransUnion (1968) and much younger than Equifax (1899). Experian describes itself as a “global information services company”, but in common language, they offer credit report information to credit institutions in 44 different countries, including the United States and Canada.
When you apply for credit (or a loan) from a credit card company or a bank, this credit institution contacts either Experian, Equifax or TransUnion — and many times a combination of the three. These credit reporting agencies sell your credit information to these potential creditors, who use your credit history to decide whether to give you credit and what kind of interest rate they should charge. Therefore, Experian is one of the most important corporations in the credit industry, despite the fact that most people have never heard of it.
Free Experian Credit Report
Each of the credit report agencies uses their own formula to arrive at a credit score for you. If you get turned down for a credit card or loan (like home loan or student loan), you can check to see what your credit score is with the credit reporting institutions are. You can get a free Experian credit report or even a 3-in-1 credit report, where you can compare and contrast your credit scores and look for discrepancies between each credit history. You’ll find that your credit score might be different from one to another, because of incorrect information on one company’s credit history file.
Experian offers a credit report and credit score for $15, as well as a three-in-one credit report for $39. You can get free credit reports online, though. When you contact Experian about a credit score, you’ll receive a credit report in the mail. After you look at a current credit report, you can then contact Experian and dispute information in your credit file.
Filing A Dispute With Experian