Credit Score?? Whats TransUnion, Experian and Equifax??? What are the diffrences?? Thanks?

Answer 1

Those are the three main reporting agencies. Some might have information that the others don't. Your credit score is calculated by adding points for good credit activities/accounts and subtracting points for bad activities/accounts. Slow payments, bankruptcies, repossessions, etc. all affect the total score.
The amount of money you can borrow and the amount you already have borrowed or owe to someone, all affect this score.
This site has some info on this
http://moneycentral.msn.com/content/Banking/Yourcreditrating/P136689.asp

Answer 2

None of them is of any value. A credit score is simply a number that a company decides to call a credit score. If they wanted, they might even be able to count the number of letters in your mother's maiden name and call that a credit score. There is a difference because each company decided to call something different a credit score. It is like asking why different individuals drive different color cars or eat different amounts of food: there is no reason for them to be the same. The only score is of any real value is the FICO score, not any of the three scores that you mention. If you are not getting the FICO score, you might as well pick a random number and call it your score, because it will save you time and be less likely to trick you into thinking that it has value.

Answer 3

They are 3 different credit bureaus that collect your credit info. there really is no difference. Although Equifax is usually the most accurate. Lenders can pull from all three to put together the most accurate and up to date credit report.

Answer 4

Your credit score is how creditors that you make payments to rate you to prospective new lenders. Actually the 3 credit reporting agencies are Sarma, CSC and TRW. The ones you mentioned are old names of 2 of the ones I mentioned. the onlyn difference is who the lender reports you to. You can get free report once a year from each. Call United way or a counseling service to get info on how to order these.

Answer 5

You can look for your credit score on Yahoo's home page. As to the three credit reporting agencies, there isn't much difference. There are three in the U.S., and they all contain basically the same information. It all depends on who is asking for a credit check and which agency they use. They are all equally hard to deal with if you are trying to clean up a bad credit report.

Answer 6

It depends on what part of the country you llive in as to what credit bureau they will use...experian is the most used right now..credit score is something that is assigned to you based on how you maintain you bills, that scrore will judge your ratio from your rate of pay to lyour outstading debt based on your salary. to help bring score up make more than mim pays on acct . also to keep score hight dont make a lot of inquires on your credit, it appears you are trying to defraud someone when they see numerous inquiries and no accounts to back up the inquire.....

Answer 7

transunion, experian, and equifax are all credit bureaus. they all do the same thing. companies report to one credit bureau, it all depends on which one they chose to use. Like where I work, we use experian.

Answer 8

Credit score is one of the stupid things ever. It is based on how much you owe and how long.
Credit card companies push this to keep people in debt to increase their scores. Really dumb.

Don't worship at the alter of the FICO score.

Pay cash for everything or use a bedt card.

Answer 9

Here's a very thorough, and SIMPLE article that explains everything:

http://financialbasics.blogspot.com/2006/11/credit-reports-and-credit-reporting.html