![]() When it comes to your credit score, does your TransUnion or Equifax, or Experian score matter more? One bureau’s score matters more than the others if the potential creditor, lender, landlord, or employer only checks one or two bureau’s credit reports. But it’s possible to be approved for credit cards, auto, home, personal, and student loans, apartments, and jobs with lower scores. A score over 760 is generally good enough to get you the lowest interest rate when applying for credit. Nor do you have to strive for a “perfect” credit score. Minor fluctuations in your credit score are nothing to worry about. While your credit score will differ by a few points, it will generally still fall within the same range no matter which score you’re seeing. But not all of them report on the same day, so your credit reports and, therefore, scores change often as new information is reported. Most creditors report account information to the credit bureaus every 30 days. Those hard inquiries will only appear on the report of the bureau they pulled your credit from. Most creditors rely on one, maybe two credit reports they typically don’t pull all three. Hard inquiries drop your score by a few points. If your credit card company only reports to Experian, for example, the information won’t be on your Equifax or TransUnion reports.Ī hard inquiry happens when a potential creditor pulls your credit report. Not all creditors report to all three bureaus. ![]() Each has a different formula for turning the information in your credit report into a credit score. There are three main credit bureaus, Experian, Equifax, and TransUnion. The information is used to decide if you’re a reasonable risk and should be offered a loan, credit card, apartment, or job. The information is sold to creditors like banks, credit card companies, landlords, and employers. The information is compiled into a credit file or credit history and calculated into a credit score. What a credit bureau isĬredit bureaus are companies that collect consumer credit information. ![]() We’ll explain what a credit bureau is, why Experian, Equifax, and TransUnion show different scores, if one bureau’s score matters more than the others, and ways to improve or build your credit score. Your score can change frequently, and it varies depending on which credit bureau’s version of your score you’re looking at. Credit scores are one of the more mysterious aspects of personal finance.
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