Credit Reporting Agency

Explanation: A credit bureau or credit reporting agency collects your credit history, and allows loan issuers or other companies and organizations to review your credit when applying for a credit card, loan, or even a job. Credit bureaus can only release your credit information with your permission.

Our Thoughts: You can check your credit report from each credit reporting agency annually for free. It's important to look for errors or evidence of identity theft/fraud. Watch out for companies that offer "free" credit reports -- often, you'll have to pay for a subscription to their service.

Background: The three largest credit reporting agencies in the United States are Equifax, Experian (formerly TRW), and TransUnion.