TransUnion is one of the three credit bureaus that keep track of your credit information and set your score. The two others are Experian and Equifax.
TransUnion offers both a free service and a subscription service.
Its credit score simulator can help you understand how certain actions will affect your credit.
Sign up for TransUnion today to get help improving your credit score »
Your credit determines a lot in your financial life. It affects the interest rates you’re offered and determines whether or not you’ll get approved for a loan.
On top of that, if your personal information gets into the wrong hands, you could be dealing with identity theft or fraud, which can also impact your credit.
Your credit score comes from the information in your credit report, which is a summary of your credit history and outstanding loans. The report comes from a credit bureau. There are three credit bureaus in the US, one of them being TransUnion.
TransUnion is a credit bureau, also known as a credit reporting agency. TransUnion aims to provide “information for good” to help consumers manage their credit and minimize risk.
Though TransUnion offers products for businesses and the public sector, it mainly offers credit reports, credit scores, and identity protection products to consumers.
Costs, services, etc.
You can sign up for credit monitoring services with TransUnion for $24.95 per month. Through this service, you’ll receive access to your credit report and credit score at any time.
You’ll also receive email updates if there are any changes to your report and get personalized help based on your debt and credit situation to improve your score.
If someone applies for credit in your name, you’ll immediately be notified with instant alerts. That way you can stop fraud before it happens.
As part of its subscription service, you can access TransUnion’s online credit score simulator as well. This tool helps users see how future events and actions might affect their credit score.
For example, if you’re concerned about how closing a credit card or applying for a new loan will affect your credit score, you can use this tool to find out.
On top of that, TransUnion subscribers get access to CreditCompass. The service provides personalized recommendations to get your credit score in shape, based on your current situation.
In addition to its subscription service, TransUnion also offers free identity theft and credit monitoring through TrueIdentity. You can put a lock on your credit report, get alerts about any changes, and more. The service provides up to $25,000 in identity theft insurance.
To sign up for TransUnion, you’d apply online by providing your personal information, creating an account, and verifying your identity.
Pros and cons of TransUnion
TransUnion offers robust credit monitoring services for a fee but also provides some protections with its TrueIdentity identity protection for free.
The pros of its service include access to scores …read more
Source:: Business Insider