Previously known as CCN Systems, Experian is a large credit bureau with offices in approximately 36 countries. Experian was established in 1980 in Nottingham and grew drastically after acquiring several credit bureaus. The company not only handles credit services but decision analytics, interactive services and marketing services.

 

Experian collects data on: businesses, motor vehicles, insurance and lifestyle data. 

Unfortunately, almost all of the credit bureaus have faced some trouble with the government. In August of 2005, Experian admitted that they violated the rules of Federal Trade Commission by not sufficiently explaining that by signing up for a free report with the company, consumers would be automatically signed up for a credit report monitoring service and that the consumer would also be charged $79.95 if they didn’t cancel within 30 days.

 

Each credit bureau offers its own way of handling credit information. Experian uses the PLUS Score method to determine credit ratings. The PLUS Score includes: the number of credit application inquiries, the combined balance, number of accounts with late payments and credit limit on open, revolving accounts. The PLUS Score model was designed to create a better understanding of these factors so that consumers can take immediate action to improve their credit reports and raise their credit scores. Recently a new Vantage Score was adapted and is being tested out so to speak by the credit bureaus.

 

Experian offers various services but the company is best known for its Triple Advantage deal. Triple Advantage checks your credit report for signs of identity theft. The service also monitors all three national credit files and will alert you of key changes. Though, all three of the credit bureaus offer these services, most people find the deal in Experian’s price. While some credit bureaus offer separate prices for each service, Triple Advantage, offers one price for all three. Protect your credit. Check out all of your credit service options.