Definition
Formerly a division of TRW, Experian is one of the three main credit bureaus operating in the U.S.
Analysis
Experian is a credit reporting agency that provides credit reports and credit scores to lenders and consumers. It sells such information to anyone that has a permissible purpose.
Experian is subject to certain federal regulations that limit its activities. The most notable regulations include the Fair Credit Reporting Act and the Fair and Accurate Credit Transactions Act.
Credit Scores
In addition to supplying credit reports, Experian also calculates consumer credit scores based on various risk scoring models. Experian provides a consumer product which it calls its PLUS Score. This is not a FICO based score.
Additionally, Experian provides VantageScore, which was developed in collaboration with Equifax and TransUnion. VantageScore is marketed to both lenders and consumers by the credit bureaus, although it is unclear whether the formulas are the same. VantageScore has not been widely accepted by lenders. The score that it provides to lenders is called the Experian/Fair Isaac Risk Score.
These risk scoring models are based on the same consumer information. However, they utilize different formulas and therefore may produce different scores. In other words, a consumer purchasing their PLUS Score will not see the same credit score that a lender would see. Experian also provides Intelliscore to rate businesses.
Contacting Experian
Experian does not readily publish contact information such as telephone and mail addresses. They prefer to encourage consumers to use online sources that are automated.
- Internet:
- www.experian.com
- www.freecreditreport.com
- www.consumerinfo.com
- www.annualcreditreport.com
- Phone:
- Order Credit Report and Score: (888) 397-3742
- Dispute Credit Information: (888) 397-3742
- Opt out of mailing lists: (888) 5-OPT-OUT
- Mail:
- Order Credit Report and Score: Experian, PO Box 2104, Allen, TX 75013
- Dispute Credit Information: Experian, PO Box 9556, Allen, TX 75013
Note that the online site mandated by Congress under the Fair and Accurate Credit Transactions Act is www.annualcreditreport.com. This is the site where a free credit report can be requested. A credit score is not included in the free credit report.
Experian has marketed www.freecreditreport.com and www.consumerinfo.com as mirrored sites, although the free credit report requires enrollment in another Experian product known as TripleAdvantage. Experian settled a lawsuit brought by the Federal Trade Commission, which charged Experian with “deceptive and misleading” claims.
