I was wondering why there is a need for 3 different companies to monitor our credit in the united states. It seems to me like it triples the chance of something going wrong like Equifax's breach.

  • 5
    The US is (mostly) a Free market society. Why are there multiple banks? Multiple health insurance providers (for now)?
    – D Stanley
    Sep 21, 2017 at 14:56
  • 5
    3? Why are there any?
    – quid
    Sep 21, 2017 at 15:37

1 Answer 1


They are private businesses, and they open as they want, quite the same as gas stations or supermarkets.
You can open a fourth one, if you think there is money to be made. May not be a bad idea, if you know a bit about cyber security.

  • Why do each of them have access to all of your credit information? Is there a need for more than one to have to have that information?
    – Rich
    Sep 21, 2017 at 15:00
  • 8
    They do not have access to any of your data to start with. Companies you do business with report all your data to them, like when you are taking loans, mortgages, and credit cards, and when you make payments (or not). They simply collect this data as presented to them. You can avoid it by not having any loans, mortgages, bank accounts, rental contracts, power bills, internet access providers, etc.
    – Aganju
    Sep 21, 2017 at 15:21
  • 3
    And they don't each have all your information. Which is why tri-merge credit reports exist. The companies offering tri-merge will pull all three credit reports and then merge them into one. The merge is mostly deduplicating the data that is held by more than one credit reporting agency. Sep 21, 2017 at 15:33
  • 4
    @Rich, they don't have access to your information, your information is their property, if you pay them, you can have access to their information about you.
    – quid
    Sep 21, 2017 at 15:39
  • Thank you all for the information. I understand much better now.
    – Rich
    Sep 21, 2017 at 17:14

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