I just came across a bank card ad that reads: "By reporting good account maintenance to each of the four major credit bureaus every month, you'll rebuild your credit." I thought we only had THREE CRA's to worry about. TransUnion Equifax Experian What is #4? Also, I read on the Fed Reserve website that there are THREE Major CRA's and many REGIONAL/LOCAL CRA's. I have been spending all my time cleaning up errors with the 3 majors above. What if a lender is looking at another CRA I know nothing about and has errors?
Well, if you're only talking about 'Credit Reporting Agencies' then there are the three majors, Innovis, & RiskWise (and probably a few others which are even lessor known then the last two) When I just got my Innovis file there were a total of a whopping *4* entries; now *2* (guess whether those are good ones) RiskWise is even lessor used, and from what I could tell, they don't actually report any account information, but are more of a specialty CRA for verifying address information (and other fraud/risk management information), I've only seen 1 company list RiskWise, and that was when Sprint PCS saw a alert on their primary credit file.
Then there's the ilk of ChexSystems, TeleCheck, and all their assorted related companies, which are also CRA's. So, there really are a whole lot more than even 4-5 CRA's.
