TransUnion was started in 1968, and they are one of the three biggest credit reporting and credit score companies right now. They give customers basic services for keeping an eye on their credit.
Your credit number is a big part of getting a loan, getting car insurance, and even getting a job. TransUnion gives you unlimited access to your credit history and credit reports, and it sends you alerts if anything changes, like if someone opens a new account in your name, your credit card amount goes up, or you miss a payment.
To sign up for TransUnion, all you have to do is give them some basic details and answer a few security questions. You must pay a single fee of $29.95 each time you want your new report and scores to get access to your three bureau scores.
TransUnion Pros and Cons
Pros:
Accreditations: The Better Business Bureau (BBB) has given TransUnion an A-.
Alerts: Identity thieves can take your credit card information, get a car loan, or open a new bank account with just your name and social security number. Because identity theft is so common, TransUnion has made an app for iOS that lets you know if you might be a victim.
They’ll let you know if a lender asks to see your report, if someone tries to open a credit card or get a car loan in your name, or if your credit reports from all three companies change in any way.
Access to Credit Score and Report: Users can access TransUnion credit scores and receive credit monitoring from all three bureaus without any limitations.
Customer Service: TransUnion helps you dispute items on your credit reports. You can contact them by phone from Monday to Thursday, between 8 am and 12 am ET. On Fridays to Sundays, you can reach them between 8 am and 8 pm ET.
Identity Theft Insurance: TransUnion offers identity theft insurance with coverage ranging from $25,000 to $1 million, depending on the plan you choose. This insurance protects you if your personal information is compromised.
TransUnion Cons
- Every time you want to see your updated credit scores from Equifax and Experian, you will need to pay for their reports.
- Lenders typically use your FICO(r) score, which may differ from the scores provided.
TransUnion Cost and Pricing
- The cost of getting your TransUnion credit score and report is $19.95.
- To access your three bureau scores, you need to pay a fee of $29.95. If you want to receive an updated report and scores in the future, you will need to pay this fee again.
Conclusion
TransUnion is a well-known credit reporting company that was founded in 1968. They provide important services for monitoring your credit. It helps users protect their financial well-being by offering easy sign-up, unlimited access to credit history, and proactive alerts. The advantages of this service include having accreditations, receiving comprehensive alerts, and having customer support.
Additionally, there is the option to get identity theft insurance. However, there are some drawbacks to consider. One is that you have to pay for reports from other bureaus. Additionally, there may be discrepancies in your credit scores. TransUnion has both strengths and limitations in its offerings, but it still plays a significant role in helping individuals manage their credit.
FAQs
What is the duration of TransUnion’s trial period?
TransUnion has a 7-day trial period that costs $1. However, if you don’t cancel within the first 7 days, you will be charged.
What services does TransUnion offer?
TransUnion offers services to protect against identity fraud and provide compensation if it occurs.
Does TransUnion give my information to other credit reporting companies?
No, TransUnion does not share any credit information. To get your Experian or Equifax credit report, you need to reach out to them directly.
