Using various methodologies, Credit Report agencies can collect an enormous amount of consumer data for third-party companies.  Financial institutions, banks, and insurance companies use the data to determine loan approval limits and insurance rates of applicants. However, consumers have been left in a grey area with respect to the type of data collected by them. vHomeInsurance analyzed the legal disclosures of the big three credit reporting companies, including Equifax, TransUnion, and Experian, to understand the data collected by them and present it to consumers in a simple infographic format.


The analysis revealed that most of the data collected by the three companies remain the same. However, the methodologies they employ to collect the data and to calculate the credit score varies widely. Among the states, the residents of California enjoy exclusive consumer rights under the California Consumer Privacy Act. Experian refrains from collecting information from California residents protected under the Act. On the other hand, Equifax and TransUnion collect data from California residents on their consent.

TransUnion is the only company out of the three that has stated that it collects biometric data from consumers. However, the company claims that the biometric data only includes the audio recording that is collected as a part of the phone conversations between consumers and employees. The credit reporting companies focus on different parameters in calculating the credit report and make it available to third-party companies. The credit score of the same individual varies across the companies because of their different scoring models. Consumers can get a free copy of their credit report from any of the companies directly by visiting their official websites.