All of the following make up the big three credit reporting agencies except? Experian, TransUnion, Equifax or Federal Reserve

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The simple answer is people sometimes think the Federal Reserve is a credit reporting agency but it is NOT.

The long answer is there are three main credit reporting agencies (Experian, TransUnion and Equifax) which are also referred to as credit bureaus.  These companies analyze all of your credit information then formulate a history and a numerical score.  These reports and scores basically give anyone (banks, landlords, car dealers, etc.) the risk factor associated in extending you a line of credit.  Generally the higher the score and the longer the credit history means that you are a low risk of not providing payment for a service or loan.  A lower score and/or shorter history means there is some uncertainty about the payback guarantee and as a result, some institutions may not extend a line of credit to you and if they do it may be at a higher rate.

Sometimes people incorrectly associate the Federal Reserve as a credit reporting agency.  The Federal Reserve is the central banking system of the United States of America and serves to control the monetary system in order to prevent financial crises.  The Federal Reserve is a complete separate entity and does not serve as a credit reporting agency like Experian, TransUnion and Equifax.

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