Why is my credit score different from TransUnion to Equifax?

Why is my credit score different from TransUnion to Equifax?

Because there are varied scoring models, you’ll likely have different scores from different providers. Lenders use many different types of credit scores to make lending decisions. The score you see when you check it may not be the same as the one used by your lender.

Why is Equifax 100 points higher than TransUnion?

The credit bureaus may not have the exact same information on you. A creditor could be reporting your payments to just one or two of them, instead of all three. If your credit file is different with each credit bureau, then your credit score might be different as well.

Which credit score matters most?

FICO® Scores
While there’s no exact answer to which credit score matters most, lenders have a clear favorite: FICO┬« Scores are used in over 90% of lending decisions. While that can help you narrow down which credit score to check, you’ll still have to consider the reason why you’re checking your credit score.

Why is my Equifax score 100 points higher than TransUnion?

If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. Delinquencies reported on a loan reported on one credit report, but not the others, is the most common reason why you’ll see wide credit score discrepancies, like 100 points.

Do car dealerships use Equifax or TransUnion?

While Experian and Equifax are the most popular bureaus among auto lenders and car dealers, TransUnion can also be used for auto loan decisions. And the truth is, the credit bureau lenders use when evaluating your auto loan application probably will not influence their decision too much.

Which credit score is usually lowest?

The lower your score is on each model, the harder it will be for you to qualify for financing. For FICO, the lowest credit score range is 300 to 579; the lowest credit score range for VantageScore is 300 to 499.

Why did my TransUnion score drop but Equifax went up?

The credit bureaus may have different information. And a lender may report updates to different bureaus at different times. So, it’s possible that Equifax and TransUnion could have different credit information on your reports, which could lead to your TransUnion score differing from your Equifax score.

Is TransUnion better than Equifax?

Which is more accurate Transunion or Equifax? Actually, Transunion is not more important than Equifax Knowing both Transunion and Equifax scores is beneficial You can check your credit scores for free with Borrowell (Equifax) and Credit Karma (Transunion).

Which is more accurate, Equifax or TransUnion?

When it comes to Equifax vs. TransUnion, both bureaus are accurate and just as important as the other. A slight difference in these scores is not usually a cause for concern. If you see a major difference when checking your credit scores, check your credit reports and decide if you need credit help.

How much does TransUnion charge for a credit report?

*Offer Details: Your TransUnion Score & Report are available as part of our subscription credit monitoring service. You will be billed at the low monthly cost of $24.95 per month (plus tax where applicable). See your score. Chart its path. Check the latest on the go.

Do Lenders look at Equifax or TransUnion?

Lenders tend to have a preference of either Equifax or TransUnion, but some will check both. Understanding what a credit bureau is, how they get their information, and how to monitor the information contained in your credit report will help you down the road when applying with potential lenders and creditors. What is a Credit Bureau?

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