Credit Bureau describes how well they keep their finances that credit institutions which collect data from individuals and companies. Credit reporting that began in the middle of the 18th century. This time, it was as a local process. He sold the goods or who work in such a way that it provided money to those warning against the evil history of regular payments.
After the First World War, however, began to show the need for national credit reporting agencies. Today, we take a few or more regions of each of the 3 major credit bureaus. Let me tell you what the three credit bureaus. 3 major credit bureaus Equifax, Experian and Transunion. Although these are small regional credit bureaus, overall about one of the 3 major credit bureaus.
It is the oldest of the credit bureaus. In Georgia was launched in 1899 with the Retail Credit Company. Later, the name was changed in 195 Equifax. Although the company has started its journey as a local company, the company will likely change to the national credit reporting service.
As part of the Union Tank Car Company, Trans Union, the company has acquired CBCC was launched in 1969.When, it has credit reporting business in full swing and continues to increase by the year 1988. Right What’s more, the credit reporting company is active in 25 countries .This well as the United States.
As part of CNN times, Experian was launched in 1980. This year I bought TRW Information Systems in 1996, this company has turned into one of the major national credit bureaus. By the year 2009, the credit bureau has branches in thirty eight companies. It also has customers in sixty countries.
Apart from knowing the “three credit bureaus do”, it’s good to know about the other services. The credit bureaus offer credit information on businesses and individuals. For the services offered by the credit bureau companies are dealing with B2B transactions are particularly useful. Because by using credit information, businesses can easily know and can know about the trust worthiness of any particular company. To help companies, credit bureaus also offer consulting services to help them come up with better time billing methods.
Credit bureaus maintain a tight-lipped attitude toward the calculation of their credit score. They fear that, if people know how credit scores are being calculated and will easily turn to get high credit score according to their behavior. This can defeat the true value of the scoring system.
The Bottom Line
Whatever, be the formula to make time payments and maintain good financial behavior can you get the best credit score.