Overview
A credit bureau, sometimes called a credit reporting agency, is a company that collects information about how you use credit.
The three major consumer credit bureaus in the United States are:
- Equifax
- Experian
- TransUnion
Here’s how the system works:
- Lenders report your borrowing activity to the credit bureaus
- Credit bureaus use that information to create your credit reports
- Your credit scores are calculated using the information in those reports
Credit bureaus also provide credit data to lenders and other authorized parties who need to review your credit before doing business with you.
You have the right to review your credit reports, dispute errors, and place a security freeze on your credit if needed.
How does CreditStrong interact with the bureaus?
CreditStrong reports your account activity directly to all three major credit bureaus:
- Experian
- Equifax
- TransUnion
Note: CreditStrong accounts are listed under “AUSTIN CAPITAL BANK SSB” on credit reports.
What do the major credit bureaus do?
Credit bureaus collect and maintain information about consumers’ credit use. If you have ever had a credit card or a loan, you likely have a credit file with one or more of the bureaus.
Businesses who check your credit, such as lenders and credit card issuers, must have a legitimate reason to do so. Common reasons include:
- Reviewing a credit application
- Evaluating loan or credit card terms
- Processing certain rental or utility applications
- Setting some insurance rates
- Running permitted background checks
Credit bureaus do not make lending decisions themselves. They provide information that lenders use to make those decisions.
You also have the right to:
- Access your credit reports
- Dispute information that is inaccurate or no longer reportable due to age
What data do the credit bureaus maintain?
Your credit report contains identifying information, including:
- Your name
- Date of birth
- Social Security number
- Current and previous addresses
It may also include:
- A list of current and past credit accounts
- Payment history for those accounts
- Negative items, such as late payments, collections, bankruptcies, repossessions, or foreclosures
Most negative items are removed from your credit report after a set period, typically seven years, depending on the type of item.
Your report also includes a record of who has accessed your credit file, such as lenders reviewing applications or companies sending pre‑approved offers.
Where do the credit reporting bureaus get their data?
Most credit information comes directly from creditors, such as banks and lenders, who report how accounts are managed.
Creditors are not required to report to credit bureaus, but many do. Some report to:
- One bureau
- Two bureaus
- All three bureaus
Because of this, your credit report can look slightly different at each bureau.
Some accounts, such as rent or utilities, may not appear on your credit report unless there is a payment issue that leads to collections.
Credit bureaus may also receive information from public records, such as:
- Bankruptcies
- Foreclosures
- Repossessions
Data privacy and your rights
Credit bureaus are regulated under the Fair Credit Reporting Act (FCRA). This law limits how your credit information can be collected, used, and shared.
Under the FCRA, you have the right to:
- Access your credit reports
- Dispute incorrect or outdated information
- Place a fraud alert or security freeze on your credit
If you have questions about how CreditStrong reports to the credit bureaus or how to review your credit reports, our Support Team is here to help!