TransUnion Credit Bureau

TransUnion Credit Bureau is one of the largest three credit bureaus. They keep a record from all your creditors about your accounts.

They can record any late payments, missed payments, balance, and all other pertinent information. The lenders send this data to the bureaus.

This data is what is shown on your credit report. Future creditors and employers can look at these reports.

They were founded in 1968. But, back then they were called Union Tank Car Company, a rail car leasing company.

That company created TransUnion as its parent holding company. Over the next 30 years they grew into one of the world's leading business intelligence providers maintaining one of the largest collections of consumer information.

In 1969, they acquired the Credit Bureau of Cook County, and began to take the shape of the company we know today. Throughout the 1970s and 1980s, they continued to expand.

In 1988, it achieved full coverage in the United States, keeping information on every active consumer in the country. Today, they extend to 25 countries on five continents.

It is privately operated, which means that it is not publicly traded. Their annual sales are in the billions.

It is a good idea to watch your credit report. To get yours free you can visit Annual Credit Report.

It is normal for there to be a mistake on your report. It is projected that 1 in every 4 Americans has a mistake.

If you have an error you should dispute it with the bureau. You must create a dispute letter and provide the reason why the item is in error.

When the bureau receives your letter and deems it valid they will investigate. Often items are removed regardless of their accuracy.

The hard part is getting the bureau to investigate. This is because they must spend potential profits to investigate a dispute.

creditors have found it more cost effective to improperly respond to dispute letters and try to frustrate the individual, rather than investigating. The Fair Credit Reporting Act says the bureaus have to investigate disputes.

This is why most people who want to remove an error on their report will employ a service to dispute it on their behalf.

In sum if you have an error on your report you should file a dispute with the bureau. You can do this yourself with a letter or by hiring a service.