Credit Reporting Bureaus & Scores - TransUnion, Experian & Equifax

One of these things is not like the others

You have three different credit reports from TransUnion, Equifax and Experian and three unique credit scores. Because each agency collects data independently, your credit scores can vary significantly based on the data in your credit reports. In fact, the average person’s credit score varies as much as 40 points between the three credit reporting agencies. When you apply for a loan or a car, this point dissimilarity can lead to higher interest rates or even denial.

Check your 3-in-1 Credit Report, with credit data from TransUnion, Equifax and Experian, to see if you can spot any discrepancies in your information. Look for:

	•	Late payments

	•	Incorrect balances

	•	Expired records

	•	Hard inquiries

	•	Crossed records

	•	Unauthorized accounts

If you find inaccurate information on one of your reports, try to work with the creditor responsible for the account first. If you can’t make progress this way, work with the credit reporting agencies to remove or update the information on your credit report.

Your credit scores can also vary a bit due to differences in the credit scoring formulas being used. There are thousands of distinct credit scoring formulas used by creditors, lenders and insurers to evaluate your creditworthiness. These scores may evaluate your credit report differently in order to match the company's specific lending guidelines. Consumer credit scores that you can purchase online use formulas that approximate the most common credit scoring algorithm.

Don't be surprised if your credit score from a creditor or lender is slightly different than the credit scores that you checked online. The basic range and score category should be the same even if the exact number is not.