ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -How do you check your credit report? On AnnualCreditReport.com you are entitled to a free annual credit report from each of the three credit reporting agencies. These agencies include Equifax, Experian, and TransUnion.

Detailed explanation-2: -The answer is C. Bank of America (BOA) is a commercial bank, who will obtain loan applicant’s credit report from three credit bureaus to analyze applicant’s financial situation. In the U.S, there are three trusted independent credit bureaus: TransUnion, Equifax and Experian.

Detailed explanation-3: -The three major credit reporting bureaus in the United States are Equifax, Experian, and TransUnion. They compile credit reports on individuals, which they sell to prospective lenders and others.

Detailed explanation-4: -While all three credit bureaus generally collect similar types of information and provide similar services (such as identity monitoring, financial tools and credit scores), they differ slightly. The main differences come down to the credit score calculations used and how they process information.