Which companies are known as major credit bureaus?

The major credit bureaus are Equifax, TransUnion, and Experian. These companies play a crucial role in the credit reporting system by collecting and maintaining consumer credit information. They analyze credit data to create credit reports, which lenders use to assess the creditworthiness of individuals when they apply for loans or credit. Understanding the function of these three bureaus is essential for recognizing how credit scores are developed and how they can impact financial decisions. This knowledge helps individuals manage their credit histories, correct inaccuracies, and make informed decisions about borrowing. The other options consist of financial institutions, payment networks, and peer-to-peer lending platforms, which do not function as credit bureaus and thus do not have the same role in the credit reporting process.