Experian plc which was known as CCN system is a global credit information group and operates in thirty-six countries. The company was founded in 1980 and acquired a credit reporting agency named TRW Information Services in 1996. Experian’s main services are interactive services, credit services, marketing solutions and business analytics. As with any other credit bureau, the company collects information about insurance, motor vehicles, people, and businesses.
A credit report is a comprehensive and precise account of the financial history (particularly related to credit) of a person. All the main financial transactions including history of borrowing, repayment and bankruptcy is detailed in this report. The report is helpful for lenders when they decide the creditworthiness of a borrower. These reports are acquired by the lenders from companies such as Equifax, TransUnion, and Experian which are called Credit Bureaus.
