There are three dominant credit bureaus
that provide reporting to lenders and creditors about about your credit history. Each offers a traditional score called a "FICO," as well as their own version of a credit score using their unique mathematical algorithm. The following is a breakdown of each credit bureau
and their alternate score types:
- Equifax: The "Equifax Credit Score" is meant to be used as an informative guide for consumers only. Results for this score type ranges from 280-850.
- Experian: With an "Experian Plus Credit Score," you can learn what part of your credit needs more attention for improvement. Scores are from 330-830.
- TransUnion: TransUnion's "TransRisk New Account Score" is also another educational tool for consumers to explore what parts of their credit habits could use some help. This scoring system ranges from 300-850.
While these credit bureaus offer their own interpretation of a credit score, most lenders only put weight in the universal FICO score to decide whether to extend you a line of credit.