Experian
Major Credit Reporting Agency
Experian is one of the three major credit bureaus in the United States, alongside Equifax and TransUnion. It specializes in collecting, analyzing, and distributing credit information for individuals and businesses.
Credit Reporting: Experian compiles credit reports that include information on credit accounts, payment history, and public records. These reports are used by lenders to assess the creditworthiness of consumers.
Credit Scoring: While Experian itself does not create credit scores, it provides the data used by scoring models like FICO and VantageScore to generate credit scores.
Identity Protection: Experian offers services to help consumers protect their identities, including credit monitoring and identity theft protection.
Data Analytics: Beyond credit reporting, Experian provides data analytics services to businesses, helping them make informed decisions regarding credit risk, marketing, and fraud prevention.
Experian is often considered the most prominent credit reporting agency, known for its consumer-facing services, such as free access to credit reports and scores through its platform, and Experian Boost, which allows consumers to quickly improve their credit scores.
Unlike some of its competitors, Experian has a significant international presence, providing credit information services in multiple countries around the world. This global reach allows it to offer a broader perspective on credit data. Experian has been at the forefront of developing new technologies and services to enhance credit reporting and scoring, such as incorporating alternative data sources to provide a more comprehensive view of consumer creditworthiness.
