Information about you can be different across all three credit bureaus. That’s why you should regularly review your Experian, Equifax and TransUnion credit scores and reports.
You can have 3 different credit scores from three credit bureaus, and they will typically vary due to the various calculations that each of them uses.
Some bureaus will have access to credit information that others don’t have. The number of hard inquiries on your credit report will be a factor in determining your credit score, and some of the bureaus may not have access to all of them.
In the end, each bureau uses the same scoring system, but they all have different info at their disposal, resulting in a score that can fluctuate between each of them.
Getting your all 3 credit scores can give you a more comprehensive idea of where you find yourself when it comes to credit, and you’ll also be able to see the discrepancies in the data.
Many lenders have no legal obligation to report to all three of the agencies, so your credit scores will likely grow in disparity over time.
Make sure that you check your three credit scores and reports often. You don’t want to end up with the bad credit because of some false information.
Credit bureaus are companies that exist to gather your information and sell it to people who are interested in your credit. Credit bureaus try to learn where you live and work, how you make ends meet to pay your bills, whether you’ve been arrested, and much more.
Once a credit bureau has all of this info, they will compile it into a single credit report, containing all of the data that a potential landlord or lender would be interested in. All of this data is then used by the person or organization who buys it to determine your interest rate, insurance premiums, and much more. The three biggest credit reporting agencies in the United States are Experian, Equifax and TransUnion.