Where do cardealerships, banks, credit card companies get there scored from??

Question

Where do these places get your credit scores from fico?? where??? is it all based on the same scores, because i kno one place can approve you like nothing and another can jus turn you down...im concered where do these companies get theres scores???

Answer 1

Well when we run credit checks we determine a deposit from trans union or some other credit buroues (cant spell sorry). I cant think of any right now but i will get back to it later. you have to remind me though

Answer 2

There are three credit reporting data banks that maintain active credit for most retailers and other customers. They are Experium, Equafax and Trans Union. Your score will vary at each one as they utilize a computer program to score your personal credit standing. Most businesses that use credit scores to extend credit use the middle score as the qualifying score. Some of your creditors report to all three, others just one or two, so if you order a report on someone a tri-merged report is usually ordered to obtain all three and determine the middle score. Retailers and businesses that extend credit, report to these data banks about every thirty to sixty days and some may only report every quarter. This is why your scores can go up and down monthly.

Answer 3

Your credit score comes from the Credit Bureau's. There are 3 major credit bureaus. Trans Union, Equifax, and Experian. Your score is based on information showing in your credit bureau (ie. good credit, bad credit, collection accts, public records such as judgements or bankruptcies.) Each company has their own criteria for approving or turning down applications. Best bet is to deal with a small hometown company that has HUMANS making their credit decisions, not computers. That way they will look at the whole picture of your credit application, not just your credit score.

People dont realize that those credit scores are a "predictor of possible Bankruptcy", not of how good your credit is.

Answer 4

Credit Reporting Agencies


Credit Reporting Agencies collect information about you and your credit history from public records, your creditors and other reliable sources. These agencies make your credit history available to your current and prospective creditors and employers as allowed by law. Credit agencies do not grant or deny credit.

The credit reporting agencies are:

Equifax
PO Box 105873
Atlanta, GA 30348
800-685-1111

Experian
PO Box 2002
Allen, TX 75013
Consumer Credit Questions
888-EXPERIAN (888-397-3742)

TransUnion
Post Office Box 2000
Chester, PA 19022
[phone]

I hope this helps!

Answer 5

They invariably use one or more of the three major credit reporting bureaus which are Equifax, TransUnion and Experian. Scores from bureau to bureau may not match, since not all lenders and businesses report to all three bureaus.

Answer 6

There are 3 main credit reporting agencies.
equifax
transunion
experian

Banks and credit card companies report problem people to them.

Do a search to find their websites.

Answer 7

in the adventure that your financial employer account is the comparable place the credit card is issued, then the respond is certain!!!!! i grow to be a banker for BofA and it particularly is interior the depost agreements and disclosures. If no longer, and additionally you pre-approved it, they could wreck out with it. in any different case, no, you ought to have approved somebody to bypass into your money owed and pull any funds. If this has occurred you are able to call your financial employer and record a dispute.

Answer 8

Many have their own in house scoring models that they feel evaluates the risk of lending you money. This is true for many insurance companies too, when it comes to determining your rate.