\n<\/p>\n
Editor\u2019s note: This post has been updated with new information.<\/em><\/p>\n Your credit score plays a large role in your overall finances. We talk a lot about what goes into a credit score<\/a> and how you can keep it in tip-top shape<\/a>, but where does your score actually come from?<\/p>\n Let\u2019s take a look at the three major credit reporting agencies that determine your score.<\/p>\n New to The Points Guy? Sign up for <\/b>our daily newsletter<\/b><\/a> and check out <\/b>our beginner\u2019s guide<\/b><\/a>.<\/b><\/p>\n There are three major credit reporting agencies that collect your financial information and compile it into a report \u2014 TransUnion, Equifax and Experian. Those reports are a key part of your credit score, and it\u2019s what banks and creditors pull when you apply for a credit card, loan or other lines of credit.<\/p>\n Each credit reporting agency has its own method for compiling your credit report and determining your credit score<\/a>. That\u2019s why your score may vary by agency. Let\u2019s take a look at each agency and the scores each produces. Then, we\u2019ll talk about which issuers look at which scores when you apply for a new card.<\/p>\n TransUnion was created back in 1968 as the parent holding company of Union Tank Car Company (a railcar leasing operation). The company jumped into the credit reporting business in 1969 when it acquired the Credit Bureau of Cook County (CBCC). Since then, it has expanded its services beyond just credit reporting. But it remains one of the primary credit bureaus in the country.<\/p>\n One of the defining characteristics of TransUnion is that it offers a service called Identity Lock. If you believe you are a victim of identity theft, TransUnion will put a freeze on your report<\/a> and<\/em> reach out to Experian and Equifax to let them know of the freeze.<\/p>\n Equifax is a global data, analytics and technology company. Like TransUnion, it is another major credit reporting agency used by lenders, although it also offers other financial services. Equifax has been in the spotlight the past few years after a massive data breach<\/a> was reported in September 2017 that affected 147 million people. In the years since, the company committed to a security transformation<\/a>, hired new leadership and put forth steps to rebuild its reputation and security infrastructure.<\/p>\n
\nThe 3 major credit reporting agencies<\/h2>\n
TransUnion<\/a><\/h3>\n
Equifax<\/a><\/h3>\n