TransUnion
TransUnion is the third largest credit bureau in the United States behind, Equifax & Experian. It has 25o offices worldwide in 25 different countries. It’s responsible for collecting data from data furnishers and then turning that data into credit reports. These credit reports then have statistical analysis applied to them which comes up with a credit score. TransUnion has two different scores, the first and most popular is the TransUnion FICO Score (also known as empirica score) and the second is the TransUnion Vantage score which was developed with the other two credit bureaus.
TransUnion United States
TransUnion Credit Report
Everybody in the US is entitled to one free credit report from TransUnion every twelve months (read more about getting your free score). These reports contain information about your credit history, including your payment history and current debts. These reports do not contain either of the credit scores that TransUnion offer.
It’s important that you regularly check your credit report and make sure it does not contain any errors, as these errors could be preventing you from being accepted for credit. They could also be causing your interest rates to be higher than they should be.
TransUnion Dispute
If you find an error on your credit report, you should file a dispute with the credit agency that has this error on their report. Before filing a dispute it’s suggested you contact the financial institution that reported this error in the first place, make sure you get written confirmation as this will be used as supporting evidence in your credit report dispute. If this financial institution is unwillingly to do this or do not agree with your version of events, then proceed to the next step. Then you need to file a dispute with TransUnion.
The easiest way to file a dispute is online, you can submit and check your dispute here. It is also possible to file a dispute via regular mail and by phone. To file a dispute you need your consumer statement or removal request along with your name, address, and TransUnion File Identification Number (FIN).
Example: Henry notices that Bank Of America has reported to TransUnion that he defaulted on a $500 credit card. Henry has never had a credit card with BoA, he contacts them about this error. BoA agrees that this never occurs and they send Henry and TransUnion a letter stating as such. Henry then contacts TransUnion about this error by filing a dispute, within 30 days TransUnion sends Henry an updated credit report with this item removed. This increases Henry’s FICO score and he is able to get a loan for a new car.
Sample Dispute Letter/Consumer Statement
Dear TransUnion:
Please find a letter I received from <credit institution that has reported incorrect information> regarding <incorrect item>. I contacted this company challenging whether or not a late payment was valid. In response to their error, they have agreed to erase the account from my credit. The letter states: “a request has been sent to the credit reporting agencies… Experian, in order to delete the late payment from the account.”
Please take this item off my credit history. My TransUnion credit report number is <insert your number here>.
When complete, please send me a copy of an updated credit report.
Thanking you in advance
<Your Name>,
<Address>
Dispute Address
TransUnion Consumer Relations
P. O. Box 2000
Chester, PA 19022
Dispute Phone Number
1-800-916-8800
Sample TransUnion Dispute Resolution
After a dispute has been settled Transunion will send a letter that looks something like this:
TransUnion ITC
TransUnion Credit Score
TransUnion Fraud Alert
TransUnion Credit Freeze
TransUnion Contact Details
TransUnion Phone Number
1-800-916-8800
TransUnion Address
TransUnion Consumer Relations
P. O. Box 2000
Chester, PA 19022
TransUnion Website