Question
Which credit report do banks use?
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23rd Mar 2011 by t-bone
In the UK we also have three credit reference agencies, Experian, Equifax and CallCredit. Most lenders use Experian when credit scoring a customer for a loan, credit card or mortgage, however Equifax is also used by many.
www.whichcreditreport.co.uk has a great comparison of what the three credit reference agencies include in their credit reports.
In the UK we also have three credit reference agencies, Experian, Equifax and CallCredit. Most lenders use Experian when credit scoring a customer for a loan, credit card or mortgage, however Equifax is also used by many.
www.whichcreditreport.co.uk has a great comparison of what the three credit reference agencies include in their credit reports.
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26th Oct 2009 by JonB
There are 3 major credit bureaus: Experian, Equifax, and TransUnion. Each one of these bureaus keeps track of consumer credit information and provides it to companies who extend credit so that they may make a more informed decision.
Credit Cards, car loans, and other financial arrangements may only contact one or two of the bureaus when seeking credit information, and may report to only one or two bureaus. This means that there may be different information on each bureau.If you want to monitor your credit report, it is best to look at all three bureaus so that nothing is missed.
If you are seeking a home loan, chances are they will pull all 3 bureaus at one time. This is what is called a tri-merge. This way they are sure to see all your credit activity. Since they are looking at three different scores, many banks usually base decisions on the middle score. Sometimes they average the scores.
There are 3 major credit bureaus: Experian, Equifax, and TransUnion. Each one of these bureaus keeps track of consumer credit information and provides it to companies who extend credit so that they may make a more informed decision.
Credit Cards, car loans, and other financial arrangements may only contact one or two of the bureaus when seeking credit information, and may report to only one or two bureaus. This means that there may be different information on each bureau.If you want to monitor your credit report, it is best to look at all three bureaus so that nothing is missed.
If you are seeking a home loan, chances are they will pull all 3 bureaus at one time. This is what is called a tri-merge. This way they are sure to see all your credit activity. Since they are looking at three different scores, many banks usually base decisions on the middle score. Sometimes they average the scores.
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25th Oct 2009 In Banking
2 Answers | 830 Views
Subjects: banks,
credit report,