What Bureau does TransUnion use?

Summary of the Article

In this article, we will discuss various aspects of TransUnion, one of the major credit bureaus. We will explore questions related to credit scores, lenders’ preferences, and the accuracy of TransUnion compared to Equifax. Here are some key points:

Question 1: Does TransUnion follow Equifax?

The credit bureaus may have different information, and lenders may report updates to different bureaus at different times. Therefore, it’s possible for Equifax and TransUnion to have different credit information, leading to different credit scores.

Question 2: Which banks pull TransUnion only?

Some banks that may pull TransUnion only include Avianca, Apple Card (Goldman Sachs Bank), Barclays, Capital One, Synchrony Bank, and U.S Bank.

Question 3: Is TransUnion the lowest credit score?

TransUnion credit scores range from 300 to 850. Compared to other credit bureaus, TransUnion places more weight on payment history and the average age of credit accounts. This makes it less forgiving for individuals with limited credit history.

Question 4: Do lenders look at TransUnion or Equifax?

When applying for a mortgage, lenders typically consider credit history reports from all three major bureaus: Experian, Equifax, and TransUnion. In most cases, lenders also consider FICO scores, which have different scoring models.

Question 5: Which credit score is usually higher, TransUnion or Equifax?

Both TransUnion and Equifax scores are equally accurate, as they are calculated from slightly different sources. However, due to reporting differences, Equifax scores are more likely to appear lower than TransUnion scores. A “fair” score from TransUnion is generally considered “fair” across the board.

Question 6: Which credit score is more accurate, Equifax or TransUnion?

Both Equifax and TransUnion provide accurate scores as they use their own scoring systems. The accuracy of the score depends on the information provided by the individual lenders.

Question 7: Is TransUnion more strict than Equifax?

TransUnion is not necessarily stricter than Equifax. Both credit bureaus follow their own methodologies, resulting in slight score variations. A “fair” credit score from TransUnion is generally considered “fair” across all credit bureaus.

Question 8: Why is TransUnion higher than FICO?

Credit bureaus receive credit information from lenders at different times, leading to variations in reported data. Additionally, credit bureaus may interpret, display, or store information differently, resulting in discrepancies between TransUnion scores and FICO scores.

Question 9: Which score is usually higher, TransUnion or Equifax?

Neither score is inherently higher or lower than the other. The differences in scores are mainly due to reporting variations. However, a “fair” score from TransUnion is generally considered similar to a “fair” score from Equifax.

Question 10: Which one is more credible, TransUnion or Equifax?

Both TransUnion and Equifax are credible credit bureaus. They use their own scoring systems and provide accurate scores. The credibility of the information depends on the lender’s preference and the specific scoring model they choose.