About Experian (2024)

FAQs

What is the summary of Experian? ›

We gather, analyze and process data in ways others can't. We help individuals take financial control and access financial services, businesses make smarter decision and thrive, lenders lend more responsibly, and organizations prevent identity fraud and crime.

Experian collects and aggregates information on over 1 billion people and businesses including 235 million individual U.S. consumers and more than 25 million U.S. businesses. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. Experian is a partner in USPS address validation.

A credit report is a record of your history managing and repaying debt, often organized into several distinct sections: personal information, accounts, inquiries, collections and public records. Experian, TransUnion and Equifax now offer all U.S. consumers free weekly credit reports through AnnualCreditReport.com.

We focus on improving financial literacy and confidence, helping people manage their financial lives, and preventing fraud and identity theft.

Experian will use the information you provide including personal information such as your name and address, information we have about you from other Experian features, products and services you use, such as Experian Boost or search information or results from our comparison services, how you interact with those ...

The main disadvantage of Experian is that, unlike FICO, it is rarely used as a stand-alone tool to make credit decisions. Even lenders that review credit reports in detail rather than go off a borrower's numerical score often look at results from all three bureaus, not just Experian.

Business Credit Monitoring

Business Credit Advantage is a self-monitoring service that allows unlimited access to a company's business credit report and score.

How's your Experian Credit Score calculated? The Experian Free Credit Score runs from 0-999. It's based on information in your Experian Credit Report – like how often you apply for credit, how much you owe, and whether you make payments on time.

Default. The applicant defaulted on the credit agreement. This activity is highlighted in the current CAIS status. Records of default accounts are held for six years from the date they went into default. CAIS status codes.

What does the Experian credit check show? ›

The Experian credit score is derived from a credit bureau check, and includes your borrowing, charging and repayment activities. It summarises a number of positive and negative factors that aim to predict how likely you are to honour your credit commitments in the future.

The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).

Your credit score helps lenders decide if you qualify for products like credit cards and loans, and your interest rate. A score of 750 puts you in a strong position. Roughly 48% of Americans had a score of 750 or above as of April 2023, according to credit scoring company FICO. FICO Blog.

What a 700 credit score can get you. Your credit score is used by lenders to see if you qualify for financial products and to set the interest rate you'll pay. With a 700 credit score, you've crossed over into the "good" credit range, where you can get cheaper rates on financial products like loans and credit cards.

Your credit score is a major factor in whether you'll be approved for a car loan. Some lenders use specialized credit scores, such as a FICO Auto Score. In general, you'll need at least prime credit, meaning a credit score of 661 or up, to get a loan at a good interest rate.

A credit report is a summary of your credit history, including the types of credit accounts you've had, your payment history and certain other information such as your credit limits.

Experian's free account includes your credit report and FICO^® Score, and you receive ongoing credit score monitoring, so you can see how your score changes over time.

Your personal credit report contains information about your financial background, including, but not limited to: The total number of credit accounts you have open, including mortgages, credit cards, automobile loans and other accounts. The amount you owe on each account and the monthly payments you must make on each.