As mentioned earlier, there are three main credit bureaus to pay attention to–Experian, Equifax, and TransUnion. Along with these bureaus, you may benefit from learning more about ChexSystems and Innovis for your credit repair efforts.
ChexSystems mainly gathers information regarding checking and savings accounts such as overdraft payments. This information is stored in one location and distributed to banks. If you have a pattern of bouncing checks, ChexSystems will likely notice and a bank may in turn refuse to open a new account under your name. As part of the Fair Credit Reporting Act (FCRA), ChexSystems is required to offer a free annual report if requested. We recommend taking advantage of the free credit report to ensure all information being pulled into the report is in good standing and belongs to you.
Innovis focuses its efforts on gathering information for credit card companies to use during their prescreening process. Fannie Mae and Freddie Mac started asking their partners to report client payment history to Innovis in 2001. Due to the support from Fannie Mae and Freddie Mac we may hear of Innovis more in the future. It is a good idea to keep an eye on up-and-coming credit bureaus.