Credit report agencies are where lenders go when they want information about you. It’s also important to note that some lenders may use other sources such as alternative consumer reports or business information services which could include public records like liens and judgments filed against an individual or business entity.
These types of inquiries have no impact on a person’s score. However, they should still be monitored closely because they can indicate risk factors associated with the borrower’s current financial status and ability to repay debt obligations promptly.
This is why it’s so important for consumers to regularly check their scores and review all relevant information contained within their reports. By doing so, individuals will know precisely what type of activity is being reported by creditors and how those activities affect their overall standing with various lending institutions.
Some of the mainstream credit reporting agencies are:
It all starts with Experian’s free service called myFICO Score, which provides access to your FICO Score 8 based on data from TransUnion and Equifax. This way, lenders can see how likely you are to repay any debt responsibly before extending an offer of credit. If they decide that, we will send alerts via email or text message.
TransUnion offers Credit Card Eligibility Calculator to see which cards might be right for you based on your income and monthly expenses. They also provide free access to your TransUnion Credit Report & Score so that you always know where you stand financially. This can help both the user and lenders to determine whether the user is credit card-worthy.
Equifax has been around for over 100 years. The Equifax Credit Scorecard is an exclusive, personalized offer that can help you make the most of your credit. It’s designed to provide valuable insight into how lenders view your overall financial picture. Equifax also provides your credit score to lenders to give you better offers for a credit card.