Credit reports are used by all sorts of people. Credit card issuers use it to check historical records and figure out what kind of credit limit to offer. Banks and loan providers use it to figure out the credibility and strength of the borrower. Sometimes, even employers in certain industries use it to conduct background checks. Credit reports have become a vital component of the financial lives of all Americans. All around the world, the concept of credit scores and credit reports is gaining prominence. This includes developing countries as well. The big credit bureaus like TransUnion have been in this business for decades. They have built up a stellar database that allows them to offer actionable insights. TransUnion also offers consulting services. So, even though it is a credit bureau, it can be a candidate for consulting services stocks to buy now.
TransUnion – One Of The Big 3 American Credit Bureaus
TransUnion is one of the major credit bureaus in the US. Headquartered in Chicago, Illinois, the company was founded more than 50 years ago in 1968. TransUnion has financial data of more than 1 billion customers spread out across 30 countries in the world. TransUnion is believed to have the profiles of every credit-active consumer in the US including 65,000 businesses. Interestingly, TransUnion is the smallest within the Big 3. Its peers Equifax and Experian are much larger than TransUnion. Having a large amount of data is an important competitive advantage in the credit report industry because it allows companies to offer better data to more customers. TransUnion is also able to leverage this data to offer additional consulting services. It is also among the most promising consulting services stocks.
Consulting Services Stocks To Buy Now
TransUnion was trading around $104 on 11th May 2021. The P/E ratio of the stock was slightly above 50. TransUnion hires over 8000 people across its offices worldwide. However, most of the revenue earned by TransUnion is from the US. Only about one-fourth comes from international markets.
