Are there more than 3 credit bureaus?

As you may or may not know, there are three major credit bureaus in the United States that collectively monitor and assess the credit ratings of millions of individuals. These three companies are Equifax, TransUnion, and Experian, and they keep track of how many loans you've taken out, your payment history, and other helpful information that helps to build a gauge of your credit worthiness.

However, many people are unaware that there is something called the 'Fourth Bureau'. The Fourth Bureau isn't just a single credit agency. Instead, it's a network of other credit companies that collect information that the three major credit bureaus don't bother with. Just like the 'Big 3', the Fourth Bureau collectively creates an assessment of your credit worthiness based on a number of qualifying factors.

So what kind of information does the Fourth Bureau collect? Well, the most important function that these additional credit agencies have is to assess the credit of people who would not normally have credit. For example, if you have no history of borrowing or repayment, then the Fourth Bureau may still have a file that describes how much credit you have.

Sometimes, information from these credit agencies will show up in a background check conducted by a new employer. It will be displayed alongside information from the Big 3 credit agencies.

The Fourth Bureau is largely unregulated, and it has come under suspicion in the past for its low-handed practices. For example, nobody is exactly sure what information these other credit bureaus gather. Although they have a general idea of what information is available, the exact details behind each individual's file and credit assessment remain hazy. To make matters worse, these companies are not required to notify you when they collect your information.

Another reason why people distrust the Fourth Bureau is because they happily sell your personal information to companies and corporations. Whether this is for a background check or for some other purpose, many people are surprised to find out exactly what kind of information is being shared about them.

Ultimately, the Fourth Bureau is an unavoidable problem. However, the identity theft that comes from its sharing of information is one that you can avoid. By signing up for our active identity monitoring service, you can be instantly alerted whenever an entry is changed in your database. Using our new and innovative service, protecting your identity – and your credit rating – has never been easier.

Detecting Identity Theft

ID Watchdog will alert you as soon as any new or changed records containing your personal information are detected during our routine scans.

When you receive an alert, you will be directed into your ID Watchdog account where you will be asked to:

• » Verify the authenticity of any detected records, OR;
• » Report the record as unrecognized

Any record that is unfamiliar to you is a red-flag warning that your identity may have been compromised.

Once you report a record as unrecognized or unfamiliar, ID Watchdog will initiate the resolution process.

Next Step: Resolution

Identity Theft Resolution

In the event that you are presented with a record that is unfamiliar or unrecognized, (for example, an a address for a home you've never lived in or a new credit account you never opened) there is a strong possibility that your identity has been compromised.

Even records which appear to be simple data processing errors need to be addressed in order to prevent an incorrect and potentially damaging evaluation of your credit or personal profile by lenders, creditors, auditors and employers.

ID Watchdog is the only Identity Intelligence Service that employs a team of certified Identity Resolution Experts who will work with you and on your behalf to get any fraudulent information removed from your records.

100% Guaranteed.