Which credit report is best in 2013?

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half of the way
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Which credit report is best in 2013?

Postby half of the way » Tue Jul 09, 2013 5:02 pm

Out of the 3 major credit report agencies (Equifax, Experian and Transunion) which would you say is the best to check? Which is most accurate and used by the most banks/creditors?

The reason I ask is because I have heard Transunion is the smallest of the 3 and that I shouldn't worry about them as much as the other two.

I know all 3 pick up information from each other (account history, late payments, charge offs) but that process can take months. For example you could have a charged-off account reported to Experian but Equifax might not pick it up from them for 1-2 months after.

Was it wrong that I was told the best reporting agencies in order are (1) Equifax (2) Experian (3) Transunion.


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Postby jibaka » Tue Jul 09, 2013 9:11 pm

I am trying to find the answer to this too. With how many websites sell credit reports or give them for free with a trial, it's left me bewildered as to who is really the best.

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Postby MemberSince99 » Tue Jul 09, 2013 9:20 pm

TU is used by many lenders including GE, Barclay's, Chase, and sometimes even BofA depending. So I don't agree with that at all. It's best to check all of them, as they can have different information on them.

Not to really push them but the MyFICO site now sells scores and abbreviated reports for all three of them. There are a few others that do as well.

I would not overlook any of them.

Here is what my current as well as recent lenders pulled:
Amex - EX
Chase - EX and TU
Discover - EQ
Associated - TU
BofA - EX
FIA - All three
Barclay's - TU
Target - TU

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Postby djrez4 » Tue Jul 09, 2013 9:28 pm

It's different for every issuer and also varies geographically.

Historically, Transunion is strongest in the midwest, Equifax in the south, and Experian (originally TRW) had a pretty broad presence all across the country. Amex almost always relies on Experian. Chase, on the other hand, uses Transunion in the midwest and Experian most other places.

half of the way - Washington state is probably about even, having no historical connection to any specific agency.

jibaka - Atlanta is in the heart of Equifax country, but that doesn't mean creditors won't pull other agencies for you.
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Postby takeshi » Wed Jul 10, 2013 6:20 pm

None of them is "best". You need to keep up on all three. Now, if you're applying for a specific card and you know which CRA they use then one might be worth considering over the others but it's also possible that the card issuer could pull more than one.

half of the way wrote:Was it wrong that I was told the best reporting agencies in order are (1) Equifax (2) Experian (3) Transunion.

Sounds like a dubious source. As always, consider the source.

Also keep in mind that "best" doesn't really mean anything without qualification no matter what the topic. Best in what way(s)?

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