Most consumers are familiar with the three nationwide credit bureaus: Experian, Equifax and TransUnion. These companies maintain the traditional credit reports commonly used for mortgages, credit cards, auto loans and other forms of financing.
What many people do not realize is that additional consumer reporting agencies may collect and share specialized information about them. These reports can involve checking accounts, identity verification, rental history, alternative loans, insurance claims, telecommunications accounts, employment information and other consumer activity.
Understanding these reports can be especially important after identity theft, a data breach, an unexpected application denial or before applying for an important financial product.
What Is a Consumer Reporting Agency?
A consumer reporting agency, sometimes called a CRA, is a company that assembles or evaluates consumer information for the purpose of providing consumer reports to other businesses.
Consumer reports may be used in connection with credit, banking, housing, insurance, employment, identity verification and other transactions, subject to applicable laws and permissible-purpose requirements.
Depending on the agency, a consumer report may contain information such as:
- Credit accounts and payment history
- Checking or savings account activity
- Identity verification information
- Alternative lending history
- Rental or eviction-related information
- Employment and income verification data
- Telecommunications and utility account information
- Insurance claims or underwriting information
- Public-record information where permitted
Not every agency maintains every type of information, and not every lender, bank, insurer, landlord or employer uses the same reports.
The Three Nationwide Credit Bureaus
Experian, Equifax and TransUnion are the best-known consumer reporting agencies. Their traditional credit reports commonly include:
- Credit cards
- Mortgages
- Auto loans
- Student loans
- Payment history
- Collections
- Credit inquiries
A security freeze placed with one bureau does not automatically freeze the other two. Consumers who want to freeze all three traditional credit reports generally need to contact each bureau separately.
Specialty Consumer Reporting Agencies
Specialty consumer reporting agencies often focus on a particular industry, transaction type or category of consumer information.
| Consumer Reporting Agency | General Area of Focus | FreezeReports Guide |
|---|---|---|
| LexisNexis Risk Solutions | Identity verification, fraud prevention, public-record and risk-related information. | LexisNexis guide |
| Innovis | Consumer credit reporting and identity-related services. | Innovis guide |
| ChexSystems | Checking and savings account history used by many financial institutions. | ChexSystems guide |
| SageStream | Consumer reporting and identity or fraud-related information. | SageStream guide |
| CoreLogic Teletrack | Alternative credit and nontraditional lending information. | Teletrack guide |
| Clarity Services | Alternative financial-services and nontraditional credit data. | Clarity Services guide |
| FactorTrust | Alternative lending and financial-services information. | FactorTrust guide |
| MicroBilt | Consumer, identity, tenant, employment and risk-related reporting services. | MicroBilt guide |
| DataX | Alternative lending and specialty financial-services data. | DataX guide |
| LCI | Specialty consumer reporting and identity-related services. | LCI guide |
This is not a complete list. Additional agencies may maintain information involving employment, rental housing, utilities, telecommunications, insurance, banking and other areas of consumer activity.
For a broader overview, see 10 Hidden Consumer Reports You May Not Know About .
Why Do Specialty Consumer Reports Matter?
A traditional credit score is not the only information a business may consider when evaluating an application. Depending on the transaction, a business may also review a specialty report.
These reports may be used in connection with:
- Opening a checking or savings account
- Applying for a mortgage or consumer loan
- Verifying identity
- Applying for apartment housing
- Obtaining wireless phone or utility service
- Applying for insurance
- Completing an employment background check where permitted
- Evaluating potential fraud or identity-risk concerns
A consumer may be surprised by a denial or request for additional verification without realizing that a specialty report may have been reviewed.
When Should You Request Your Reports?
Reviewing a consumer report can help you understand what information an agency has associated with your identity.
You may want to request a report when:
- You received notice that your information was exposed in a data breach.
- You suspect identity theft or fraudulent activity.
- You see an unfamiliar inquiry, account or address.
- You were denied a financial product or service.
- You are preparing to apply for a mortgage or another major loan.
- You want to review your information for possible inaccuracies.
- You want to understand which specialty agencies maintain information about you.
The request process varies by agency. Some agencies accept online requests, while others may require a written request, identity documentation or additional verification.
Should You Freeze Specialty Consumer Reports?
A security freeze can restrict access to a consumer report. This may make it more difficult for an identity thief to use that report when attempting to open an unauthorized account.
Whether a particular freeze is appropriate depends on your circumstances, the type of report and whether you expect to apply for a product or service that may require access to it.
You may consider a freeze when:
- Your Social Security number or other sensitive information was exposed.
- You have experienced identity theft.
- You are not actively applying for new accounts.
- You want to take additional preventive steps beyond freezing the Big Three.
Before applying for a bank account, loan, insurance policy, apartment, utility service or other product, ask which consumer report may be reviewed. You may need to temporarily lift the appropriate freeze.
Learn more in our guide: How to Freeze a Credit Report .
Freeze, Lock and Fraud Alert: What Is the Difference?
These terms are sometimes used interchangeably, but they are not necessarily the same.
- Security freeze: Restricts access to a consumer report until the consumer lifts or removes the freeze.
- Credit lock: A bureau or service feature that may allow faster locking and unlocking, often through an online account or app.
- Fraud alert: Tells businesses reviewing a traditional credit report to take additional steps to verify the applicant's identity.
See our comparison: Credit Freeze vs. Credit Lock .
How to Take Control of Your Consumer Reports
Identify the relevant agencies
Consider which reports may be connected to your current concern, such as banking, lending, identity theft or housing.
Request copies of available reports
Follow each agency's consumer disclosure procedure and provide the required identity verification.
Review the information carefully
Look for unfamiliar names, addresses, inquiries, accounts, financial activity or identity information.
Place available security freezes
Consider freezing reports you do not currently need accessible, especially after identity theft or a data breach.
Keep your confirmation information
Save confirmation numbers, access codes, letters and instructions needed to manage or lift a freeze later.
Consumer Reports and Mortgage Applications
Mortgage applicants are usually familiar with the traditional three-bureau credit report. However, lenders and their service providers may also use other databases for identity verification, fraud prevention, employment verification, public-record research or other underwriting-related purposes.
A freeze on a specialty report does not automatically mean a mortgage application will be denied. It may, however, delay the process if an authorized party needs access to that report.
Before applying, ask your mortgage professional whether any report freezes should be temporarily lifted. Do not permanently remove a freeze unless you are comfortable doing so.
Frequently Asked Questions
Are consumer reporting agencies the same as credit bureaus?
The three nationwide credit bureaus are consumer reporting agencies, but many other agencies maintain specialized information involving banking, identity, insurance, employment, housing, telecommunications and alternative lending.
Can I request copies of specialty consumer reports?
Many agencies provide a process for requesting a consumer disclosure or report. The procedure, identity-verification requirements and availability vary by agency.
Can I freeze specialty consumer reports?
Some specialty consumer reporting agencies offer security freezes or similar protections. The procedures differ by agency, and not every type of report can necessarily be frozen.
Does freezing a report improve my credit score?
No. A freeze restricts access to a report. It does not remove accurate information, delete negative accounts or increase a credit score.
Will freezing a report affect a future application?
It may. If an authorized business needs access to a frozen report, you may need to temporarily lift the freeze before the application can be completed.
Should I freeze every specialty report?
Not necessarily. The appropriate approach depends on your risk, your recent activity and whether you expect to apply for products or services that may use a particular report.
Protect More Than the Big Three
FreezeReports.com helps consumers learn about specialty consumer reporting agencies, understand available report-freeze procedures and take practical steps to protect their personal information.
Our service can help prepare and mail requests to selected consumer reporting agencies for consumers who would rather not handle every request individually.