What is TransUnion?
TransUnion is one of the largest credit reference agencies in the US. The company maintains a database of consumer credit files that other financial institutions and individuals use to monitor their credit scores.
Where have you heard about TransUnion?
Although TransUnion doesn’t have a presence in the UK, it’s very similar to Experian and Equifax, which we’re more familiar with in this country. It gathers information on people’s payment history, credit history and borrowing habits.
What you need to know about TransUnion.
TransUnion makes most of its money from selling information to consumer lenders, such as banks, credit unions and credit card companies, which use the data to compare creditworthiness. That way, they can decide whether to grant an application for a loan, credit card or other financial product.
As well as consumer credit reporting, TransUnion also provides consumer services such as identity theft protection and fraud protection.
TransUnion, which has its headquarters in Chicago, has locations around the world, including Canada, Hong Kong, Brazil, South Africa and India.