Key takeaways
Here's the short version of this guide.
Credit bureaus like Equifax®, Experian®, and TransUnion® collect your credit information to create credit reports.
Lenders use these reports to check your credit history. The bureaus themselves don't approve or deny loans.
You can check your report from each bureau at no cost, and reviewing your reports can help you spot mistakes.
If you find an error or suspect fraud, you can dispute it with the bureau or place a freeze on your credit.
If you've ever applied for a loan, a credit card, or an apartment, a credit bureau likely played a role behind the scenes. Knowing how credit bureaus work can help you feel confident as you build credit and apply for loans. Here's what you need to know about the three credit bureaus, what they collect, and how to fix mistakes on your reports.
What is a credit bureau?
A credit bureau is a company that collects your credit information and turns it into credit reports. The Consumer Financial Protection Bureau, or CFPB, describes these businesses as companies that compile and sell credit reports. You may also hear them called credit reporting agencies or consumer reporting companies.
Equifax®, Experian®, and TransUnion® are the three nationwide credit bureaus in the U.S., according to the CFPB.
A federal law called the Fair Credit Reporting Act, or FCRA, regulates credit bureaus. The FCRA lets a bureau share your report only with users who have a permissible purpose.
What does a credit bureau do?
You may know a lot about how to build and manage your credit. But do you know who keeps track of your credit reports?
When you apply for a loan or line of credit, lenders want to know how risky a borrower you might be. A line of credit lets you borrow up to a set limit as you need it. To size up that risk, lenders rely on credit bureaus for a record of your borrowing history.
Credit bureaus collect and maintain your credit information, then share it with lenders and other businesses that request it.
A credit bureau's main job is to give lenders a clear picture of your credit history so lenders can make informed decisions. Bureaus can also check public records for things like bankruptcies. All of this information goes into a document known as your credit report.
Who are the 3 major credit bureaus?
Experian, Equifax, and TransUnion are the three nationwide credit bureaus in the U.S. Several other reporting companies exist, but these are the main three. Lenders and other businesses can use the information these bureaus collect to:
Calculate credit scores
Help lenders decide whether to lend you money
Run some employment background checks with your permission
Review rental applications
Help insurers decide whether to offer you coverage
Each bureau runs its own website where you can manage your report. Here's a quick look at where to go.
Bureau | Website | What you can do there |
|---|---|---|
Equifax | Check reports, place a freeze, file a dispute | |
Experian | Check reports, place a freeze, file a dispute | |
TransUnion | Check reports, place a freeze, file a dispute |
Credit bureaus hold your data, while scoring companies like FICO® and VantageScore® build the score models. Those models calculate your credit scores from the information in your credit reports, according to the CFPB.
Most FICO and VantageScore models use a range of 300 to 850, according to Experian. Some models weigh factors differently than others.
The three bureaus created VantageScore, which now runs as an independently managed joint venture. Because models differ and your reports can vary, your credit score might look slightly different at each credit bureau.
What information do credit bureaus collect?
Your credit reports give a snapshot of how you've handled credit over time. Here's what credit bureaus typically collect:
Personal details: Your name, current and past addresses, and other identifying information.
Credit accounts: Your credit cards, loans, and lines of credit, along with balances and limits.
Payment history: A record of whether you paid each account on time or late.
Inquiries: A list of businesses that pulled your report, like a lender reviewing your application.
Collections and public records: Debts that went to collection agencies and public records like bankruptcies.
According to the CFPB, bureaus gather this data from lenders across the country and from public records. Creditors don't have to report to every bureau, so your three reports can differ.
Quick facts about credit bureaus
Financial services can seem mystifying, but they don't have to be. Here's a quick rundown of the top things to know about credit bureaus.
1. Credit bureaus don't make lending decisions
Credit bureaus don't get a say in whether a lender approves or denies your loan. Experian, one of the three bureaus, confirms that bureaus don't make lending decisions. The bureaus collect and organize your credit information, and the lender makes the final call.
2. You can check your credit reports at no cost
Federal law requires each nationwide bureau to give you a copy of your credit report once every 12 months. The Federal Trade Commission, or FTC, notes that you can get these copies at no cost.
Equifax, Experian, and TransUnion also let you check your reports once a week at AnnualCreditReport.com. That weekly access comes from the bureaus, while federal law covers the yearly copy.
3. Each credit report has unique information
Each of your credit reports might contain slightly different information. Since reporting can vary by creditor, checking all three reports can help you catch errors you might otherwise miss.
How to dispute errors on your credit report
Most negative information can stay on your credit reports for up to seven years. If you find inaccurate or incomplete information, contact the credit bureau directly to dispute it.
Errors may hurt your credit scores and could even signal identity theft. These mistakes also appear in consumer complaints. In 2025, the most common issue in credit reporting complaints to the CFPB was incorrect information on reports.
After you file a dispute, the bureau usually investigates within 30 days, according to the CFPB. The bureau fixes mistakes at no cost to you.
If you think you're a victim of identity theft, you can place a fraud alert or a credit freeze on your report. A credit freeze restricts access to your report, making it harder for someone to open a new account in your name. You can temporarily lift the freeze at the bureau a lender plans to use when you apply for credit.
Both tools come at no cost, according to the FTC. Here's how a fraud alert and a credit freeze compare.
Fraud alert vs. credit freeze | Fraud alert | Credit freeze |
|---|---|---|
Cost | No cost | No cost to place or lift |
Who to contact | One bureau, which notifies the others | Each of the three bureaus |
How long it lasts | Initial alert lasts one year. Extended alert lasts seven years for identity theft victims who have completed an FTC identity report or filed a police report. | Until you lift it |
What it does | Tells businesses to verify your identity | Restricts access to your report |
Take control of your credit information
Credit bureaus hold the information lenders review when you apply for credit, so their role matters. Understanding how credit bureaus work can help you become a more informed borrower. Review your credit reports regularly and contact a bureau right away if something seems off.
If you're building credit, the Chime Visa® Credit Card (see disclosure 1) is a secured credit card that can help you build credit history when you make on-time payments. (see disclosure 2)
For more on reviewing your credit information, see our guide on how to read a credit report.