Included in your report are the five categories mentioned above. You then decide to apply for another new credit card. In addition to your score potentially taking a hit, you might experience another dilemma. Knowing which credit reporting agency card issuers use to pull reports might help you avoid this problem. By understanding this concept, you can time your applications or bundle them, as the case may be in such a way that you improve your approval odds for the credit cards you want.
Many credit card companies tend to rely on one bureau when they process credit card applications. The credit bureau they use to buy reports, however, may differ depending on the state you live in and the specific card product you want. As an example, say you find out that Citi usually pulls from Equifax and Chase primarily uses Experian for the specific card applications you want to fill out.
You could apply for both cards in a single day and potentially improve your approval odds for both cards. However, there are online resources that gather customer feedback to gauge which issuer uses which credit bureau. The CreditPulls database on CreditBoards. You can use the database to figure out which credit report will likely be pulled for your application, as well as the score you may need to get approved for a particular card.
You can also filter by state, credit bureau and application date. To see a wider range of card issuer options, only fill in your state and date range in the search criteria. As a test, I performed a sample search of applicants in Florida that applied only for American Express cards in the past six months. Below is a review of the results. Which credit bureau a card issuer uses to pull credit reports may not depend just on which state you reside in, but sometimes even the part of the state where you live.
Conducting some research of our own, we went to CreditBoards. The list below shows the most frequent outcomes of popular cards for California and New York applicants. Credit card: Chase Sapphire Preferred Card.
Credit card: Chase Sapphire Reserve. The card details on this page have not been reviewed or provided by the card issuer. Your credit report is a key part of your financial profile that can have a notable impact on your creditworthiness. By understanding which credit reporting agency banks use to review your credit, it may help increase approval odds on your next credit card application. Disclaimer: The responses below are not provided or commissioned by the bank advertiser.
Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. The three major credit bureaus — Equifax, Experian and TransUnion — supply the reports that card issuers review when considering your application. Filed Under:. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Terms apply to the offers listed on this page. When you apply for a credit card, an issuer pulls your credit report to check your creditworthiness.
Typically, three major credit bureaus supply the reports that card issuers review when considering your application: Equifax, Experian and TransUnion. Normally, a card issuer pulls just one report from one bureau, according to credit-reporting expert John Ulzheimer. This inquiry then appears on the credit report from whichever bureau furnished your information. This legally required notice includes the name of the credit bureau whose report was instrumental in declining your application.
To offer some clarity, we informally surveyed 12 major credit card issuers about which bureaus they use. Some issuers were forthcoming, while others were secretive. American Express says it pulls reports from all three credit bureaus. Bank of America says it uses reports from all three credit bureaus. Citi says it pulls reports from all three credit bureaus. The company says Wells Fargo relies on credit reports from all three credit bureaus. See related: Is it possible to remove inquiries from your credit report?
Melinda Opperman, president and chief relationship officer at Credit. Opperman warned that this information only represents a quick survey of what users report. So it could differ from what you experience when applying for a credit card.
Nonetheless, visiting online credit card forums and discussion boards can give you a sense of which credit bureau will help decide the fate of your application. As you might expect, the three credit bureaus decline to disclose which card issuers purchase their credit reports. Similarly, the Consumer Data Industry Association, a trade group representing credit bureaus, says it also is unable to shed light on the credit bureaus used by card issuers.
Ulzheimer, the credit-reporting expert, says he understands why some card issuers might balk at divulging which credit bureaus they rely on. A card issuer typically picks one report from one bureau when deciding on a credit card application, he says. Pulling reports from all three credit bureaus for every application would be too costly. Ulzheimer says a card issuer chooses a bureau based, in part, on what type of agreement it has with that bureau. The bank will only use TransUnion data if necessary.
Knowing which credit reports lenders use , can allow you to take a peek before submitting an application — for the purpose of improving your credit history before applying.
We learned this by reviewing 94 consumer-reported credit inquiries from January through December In different states, there may be slight differences as to which bureau is used. That means we can only gather this information from people who actually applied for cards from Bank of America. When you apply for a credit card, the lender will pull a copy of your credit report from a credit bureau. Each hard pull reduces your credit slightly. This is because applying for a lot of loans at once is a sign of poor financial health.
Because you can see hard pulls appear on your credit report, you can know which credit bureau a lender pulled your report from. The pull will simply show up in one report, but not the others. We used the CreditBoards. People submit their credit application results on the website so others can gauge their odds of getting approved for a card. Our goal is to help you identify which credit report is most likely to affect your chances for approval for a Bank of America card.
Find your state in the above table to see which bureaus are most likely to be used for your application. You can then use that information to take steps towards improving the credit score that the bureau shows for you. Ideally, the steps you take will improve your credit across all three bureaus, but focusing on a specific one can make your job easier.
Keep in mind that Bank of America may opt to pull a report from more than one bureau. We recommend that you retrieve your credit reports for free using AnnualCreditReport.
The website does not charge you or force you to sign up for and then cancel a subscription. If you want to look at your report more frequently than once per year, there are other free options.
Some third-party financial management and credit-monitoring tools offer credit report services for free. Other credit card issuers like Capital One let you view your credit report as well. You can also request a report by phone by calling or by mail, by sending a form to:. Another way to get your credit report for free is to ask a bank for a copy after you are denied a credit card. There are lots of things you can do to give your score a boost. These are the best ways to increase your odds of getting approved by Bank of America.
If someone has a similar name to you or a lender misreports information, you could have bad data on your report. These errors can hurt your credit. Each bureau has different instructions for disputing errors , and you should certainly take the time to do so.
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