What's better Equifax or TransUnion?

Neither Equifax nor TransUnion is definitively better; they are both major, reputable credit reporting agencies that collect similar information, and no single bureau is considered more accurate or important than the others.

Do lenders look at TransUnion or Equifax?

Your score can differ depending on which credit reporting company is used, but most mortgage lenders look at scores from all three major credit reporting companies – Equifax, Experian, and TransUnion – and use the middle score for deciding what rate to offer you.

Do dealers look at TransUnion or Equifax?

Equifax®, Experian®, and TransUnion® are the three major credit reporting bureaus that sell credit report data to auto lenders and dealers. Auto lenders may rely more on Equifax and Experian for credit report insights, but TransUnion also sells consumer data to a number of automotive lenders.

Why is my credit score different on Equifax and TransUnion?

Your credit scores differ between Equifax and TransUnion because they use different data (lenders report info at different times/to fewer bureaus) and different scoring models (like VantageScore vs. FICO), leading to unique numbers even for the same person, but they should generally trend similarly. Each bureau updates its file at its own pace, so a late payment or new account might show up on one report before the other, creating score variations. 

Which credit score matters the most?

The FICO Score matters most because roughly 90% of top lenders use it for loan decisions, though there isn't one single "most important" score, as lenders use various FICO versions (like FICO 8, 9, 10) and sometimes industry-specific or VantageScores. Your best bet is to know your general FICO score, especially common versions like FICO 8, and monitor it across the three bureaus (Experian, Equifax, TransUnion) to understand your creditworthiness for major loans like mortgages and auto loans.
 

Transunion vs Equifax - Which Credit Score Matters More? (What's the Difference?)

Can I get a $50,000 loan with a 700 credit score?

In general, to qualify for a $50,000 personal loan you will need to show you have sufficient income to make the monthly payments and have a credit score of 580 or higher.

What is a good Equifax score?

A good Equifax credit score generally falls in the 660-724 range, while scores from 725-759 are considered "Very Good," and 760-850 are "Excellent," indicating strong creditworthiness for favorable loan terms; however, score ranges can vary slightly depending on the scoring model (like VantageScore or FICO) and country (US vs. Canada). 

Should I use TransUnion or Equifax?

Neither TransUnion nor Equifax is inherently "better"—they are two of the three major credit bureaus (along with Experian) that collect your financial data, and lenders often check reports from all three, so you should monitor all of them for accuracy to get a complete view of your credit, as scores and data can differ slightly between them. 

What credit score do banks use?

Banks primarily use FICO Scores, especially industry-specific versions (Auto, Bankcard) and newer models like FICO 8, 9, 10, pulling data from Experian, Equifax, and TransUnion, though some may use VantageScore, with scores varying based on the specific model and bureau used, making it important to check your scores across different models.
 

Why is my Equifax 40 points higher than my TransUnion?

When the scores are significantly different across bureaus, it is likely the underlying data in the credit bureaus is different and thus driving that observed score difference.

What credit score is needed for a $30,000 car?

To qualify for a $30,000 car loan, most lenders prefer to see a credit score of at least 660 to 700. That being said, your credit score is only one part of the equation. Lenders will also consider: Your debt-to-income ratio (how much you owe compared to how much you earn)

What is an excellent credit score for TransUnion?

For TransUnion's VantageScore 3.0, an excellent credit score is generally 781 to 850, indicating you're a very low-risk borrower, while FICO models, also common, consider 800+ as exceptional or 740-799 as very good, both showing strong creditworthiness for the best loan terms and rates.
 

What should you never reveal to the dealer when negotiating?

If you tell them that you won't be taking out a car loan, many will either refuse to negotiate on the car's price or, worse, raise the price to increase their profit. If they know you have a specific budget, they also know they won't be able to move you up to a more expensive, profitable model.

What credit score is needed for a $250000 house?

The credit score needed to buy a $250,000 house depends on the type of mortgage. The lowest credit score you could have and still secure a mortgage would be 500 (for an FHA loan with a 10% down payment). Expect to need a minimum credit score between 580 and 640 for other loans, depending on which kind you choose.

What are the worst mistakes for your credit score?

• Highlights: ...
• Making late payments. ...
• Making only the minimum credit card payment each month. ...
• Maxing out your credit card. ...
• Misunderstanding introductory credit card interest rates. ...
• Not reviewing your credit card and bank statements in full each month. ...
• Closing a paid-off credit card account.

Do realtors use TransUnion or Equifax?

When you submit a rental application or prepare to buy a home, realtors typically use one of the three major credit bureaus—Equifax, Experian, or TransUnion—to run a credit check. Checking credit reveals crucial information about your financial behavior, such as your score, and history of making on-time payments.

How to raise your credit score 200 points in 30 days?

Raising your score 200 points in 30 days is very difficult unless there's a major error, but you can see fast improvements by paying down credit card balances (lowering utilization), ensuring on-time payments, disputing errors on your report, becoming an authorized user, or getting credit for bills like rent/utilities through services like Experian Boost, though a significant jump usually takes months of consistent habits like diversifying credit and limiting new applications. 

What is the 2 2 2 credit rule?

The 2-2-2 credit rule is a guideline for lenders, especially for mortgages, suggesting borrowers should have at least two active credit accounts, open for at least two years, with at least two years of on-time payments, sometimes also requiring a minimum credit limit (like $2,000) for each. It shows lenders you can consistently manage multiple debts, building confidence in your financial responsibility beyond just a high credit score, and helps you qualify for larger loans. 

Why is TransUnion always lower than Equifax?

Thus, even if both credit bureaus have access to the same financial information about your credit experience, the scores they generate will differ. One reason for the discrepancy in credit scores between Equifax and TransUnion is that their scoring models weigh certain factors more heavily than others.

Do car dealerships use Equifax or TransUnion?

Do dealerships look at TransUnion or Equifax? Credit scores from FICO and VantageScore, available through both TransUnion and Equifax, are commonly used for auto loans. Some lenders may prefer using the industry-specific FICO® Auto Scores.

Should I get all three credit reports at once?

Yes, you should get all three credit reports (Experian, Equifax, TransUnion) annually to ensure accuracy and spot issues, either all at once or spread out (e.g., one every few months) for continuous monitoring, using the official AnnualCreditReport.com site to get them free. Spreading them out helps you track changes and potential fraud throughout the year, while getting them together gives a comprehensive overview of what lenders see, as information can differ between bureaus. 

How quickly can I get my credit score from 500 to 700?

The time it takes to reach a 700 credit score depends on your starting point and what's on your credit report. – If your score is in the 650–690 range, you may reach 700 in a few weeks to a few months with consistent credit habits. – If you're below 600, it could take 6–12 months or longer.

What credit score do you need for a $400,000 house?

Credit Score

When applying for a $400,000 home, lenders evaluate your credit scores to determine eligibility and the rates you'll receive: 740+: Best rates and terms. 700-739: Slightly higher rates. 660-699: Higher rates, may require larger down payment.

Does income affect credit score?

No, your income doesn't directly affect your credit score, as it's not listed on your credit report; however, it indirectly impacts it by influencing your ability to manage debt, pay bills on time, and keep credit utilization low, all of which are key factors in your score. Higher income can lead to better credit management, higher limits, and thus better scores, while low income can make it harder to pay bills, potentially hurting your score.