Washington Challenge to Credit Report of Experian, TransUnion, and/or Equifax

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Multi-State
Control #:
US-1162BG
Format:
Word; 
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Instant download

Description

There are three credit reporting agencies, or credit bureaus, in the United States: Experian, Equifax, and TransUnion. Each of these credit reporting agencies compiles your credit information from various reporting sources, such as lenders, into a credit report.
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FAQ

Neither your TransUnion or Equifax score is more or less accurate than the other. They're just calculated from slightly differing sources. Your Equifax credit score is likely lower due to reporting differences. Nonetheless, a ?fair? score from TransUnion is typically ?fair? across the board.

The law was passed in 1970 and amended twice. It is primarily aimed at the three major credit reporting agencies ? Experian, Equifax and TransUnion ? because of the widespread use of the information those bureaus collect and sell.

To freeze your credit, you have to contact each of the three credit bureaus individually. Placing a credit freeze is free for you and your children, as is lifting it when applying for new credit.

A very poor credit score is in the range of 300 ? 600, with 601 ? 660 considered to be poor. A score of 661 ? 720 is fair. And an excellent score is in the range of 781 ? 850.

The primary credit scoring models are FICO® and VantageScore®, and both are equally accurate. Although both are accurate, most lenders are looking at your FICO score when you apply for a loan.

When you are applying for a mortgage to buy a home, lenders will typically look at all of your credit history reports from the three major credit bureaus ? Experian, Equifax, and TransUnion. In most cases, mortgage lenders will look at your FICO score. There are different FICO scoring models.

When you are applying for a mortgage to buy a home, lenders will typically look at all of your credit history reports from the three major credit bureaus ? Experian, Equifax, and TransUnion. In most cases, mortgage lenders will look at your FICO score. There are different FICO scoring models.

No credit score from any one of the credit bureaus is more valuable or more accurate than another. It's possible that a lender may gravitate toward one score over another, but that doesn't necessarily mean that score is better.

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Washington Challenge to Credit Report of Experian, TransUnion, and/or Equifax