Understanding Credit Reporting

Who is John Ulzheimer?

• A government official in charge of financial oversight

• A credit card company CEO

• A consumer credit expert with nearly 30 years of experience

• A university professor specializing in finance

Which company is not one of the three major credit reporting agencies?

• LexisNexis

• TransUnion

• Experian

• Equifax

Where is Equifax's headquarters located?

• Atlanta

• New York

• Southern California

• Illinois

Approximately how many consumers do the major credit reporting agencies maintain information on?

• 100 million

• 220 million

• 330 million

• 500 million

What term is used to describe individuals without a credit report?

• Credit ghosts

• Credit invisibles

• Credit blanks

• Credit voids

Why might someone not have a credit report?

• They have a poor credit score

• They have never borrowed money

• They are under 18 years old

• Both A and B

Do credit reporting agencies share information with each other?

• Only if requested by a consumer

• No, never

• Only in specific scenarios

• Yes, always

What happens if you place a fraud alert with one credit bureau?

• None of the above

• You must contact the other two separately

• It applies to all three automatically

• It only affects your credit score

Are credit bureaus owned or operated by the government?

• Yes, all of them

• No, they are independent entities

• Only Equifax is government-owned

• Only Experian is government-owned

How can you own a part of Equifax or TransUnion?

• Submitting a request

• Purchasing shares

• Through inheritance

• By working there