What is a TransUnion® credit report?
TransUnion® is one of the three major credit bureaus. The other two are Equifax® and Experian®. Credit bureaus are also known as credit reporting companies or consumer reporting agencies. These companies gather information on credit history and activity, among other things, to generate credit reports.
Learn more about what’s on a TransUnion credit report, what TransUnion credit reports are used for and how to get a free copy of your report.
Key takeaways
- TransUnion is one of the three major credit bureaus that produces credit reports.
- Credit reports generally contain the same four categories of information: personal information, credit account data, public records and credit inquiries.
- Lenders, landlords, property management companies and employers may use credit reports to inform their decisions.
- You can request free copies of your credit reports from AnnualCreditReport.com. You can also access your free TransUnion credit report anytime with CreditWise from Capital One.
What’s on a TransUnion credit report?
Each of your credit reports may look slightly different. But generally, they’ll all contain these four categories of information:
- Personal information, including your name, address, phone number, Social Security number and date of birth.
- Credit account data, such as the types of credit accounts, credit limits and payment history.
- Public records, which might include things like foreclosures and bankruptcies.
- Hard and soft credit inquiries, which may be triggered by new credit applications, rental applications, and new phone, cable or internet accounts.
This list represents just some of the data that may show up on your credit reports. Learning more about how to read a credit report can help you gain a deeper understanding of what your credit reports say about your financial history.
What are TransUnion credit reports used for?
Lenders and creditors, like banks and credit card issuers, use the information in credit reports as part of assessing a borrower’s creditworthiness, or how likely someone is to pay back a line of credit.
Credit reports help inform lenders’ decisions about whether they should extend credit or approve loans. Credit report information can impact interest rates and other loan terms that are offered, too.
Landlords, property management companies and employers may also review credit reports when making decisions about renting someone an apartment or hiring someone for a job. Your credit reports can even affect deposit amounts for utilities.
Checking your credit reports can help you understand what people or companies reviewing your credit might see. For example, reviewing your TransUnion credit report and your credit scores might help you figure out if you meet the minimum requirements to qualify for a mortgage and what range of auto loan interest rates you may be offered.
Who can see my TransUnion credit report?
The Fair Credit Reporting Act (FCRA) restricts access to your credit reports. According to the Consumer Financial Protection Bureau (CFPB), the FCRA says a credit reporting company may send your credit report to “creditors, government authorities, landlords, employers, and others” who intend to use your report for decisions about things such as:
- Credit
- Insurance coverage or premiums
- Employment
- Government benefits and licenses
- Rental applications
Credit reports may be issued in response to things like court orders and subpoenas too. You may also authorize someone to receive your credit report. The CFPB also notes that you can see who has requested your credit report in the past year, or the past two years when it comes to employers, when you request a copy of your report.
TransUnion vs. Equifax vs. Experian: What’s the difference?
TransUnion, Equifax and Experian are the three major credit reporting agencies. They all use financial information to compile credit reports. Those reports are then used by credit-scoring companies to calculate credit scores.
But depending on the credit bureau, your report might look slightly different. One reason? Not all lenders report credit information to all three bureaus. Some may provide information to only one bureau. Others may give information to multiple bureaus.
That means that each bureau might be using slightly different information in its reports. And those differences in credit reports are one reason you might see differences in your credit scores.
TransUnion credit report FAQ
Here are a few frequently asked questions about TransUnion credit reports.
Is there a TransUnion credit score?
Credit scores and credit reports are two different things. Credit scores are calculated using information from credit reports. TransUnion produces credit reports but doesn’t calculate its own credit scores. That’s done by credit-scoring companies like FICO® and VantageScore®.
If you see a reference to a TransUnion credit score, that’s likely a score that was calculated by a credit-scoring company, like FICO or VantageScore, using information from a TransUnion credit report.
Is TransUnion legitimate?
Yes. TransUnion is a legitimate credit bureau. Its credit reports are used by lenders to judge things like loan and credit applications.
How do I get a free credit report from TransUnion?
You can get free copies of your credit reports from all three major credit bureaus without hurting your scores. Visit AnnualCreditReport.com to learn how.
If you sign up for CreditWise, you can access your TransUnion credit report and VantageScore 3.0 credit score anytime, without hurting your scores. CreditWise is free for everyone who is eligible—whether or not you’re already a Capital One customer.
How do I dispute an error on a TransUnion credit report?
You can start by contacting the lender or company that provided the incorrect information. If the error is regarding a credit card, for example, reach out to that card’s issuer. You can also contact the credit bureau that produced the report containing the error.
The CFPB recommends explaining in writing what the error is and why you believe the information is incorrect. Including documentation that backs up your claim may help too.
The CFPB has more details on how to dispute credit report errors. It also has contact information for all three major credit bureaus, including TransUnion.
TransUnion credit reports in a nutshell
TransUnion is one of the three major credit bureaus that produces credit reports. Keeping an eye on your credit reports can help you understand what impacts your credit scores and spot any errors.
Remember, CreditWise lets you access your TransUnion credit report anytime. You can even explore the potential impact of financial decisions before you make them with the CreditWise Simulator. CreditWise is free for everyone, whether you’re a Capital One customer or not. And using it won’t hurt your credit scores.
