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Why so few Creditors use Trans Union?

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Open123
Super Contributor

Why so few Creditors use Trans Union?

Was looking over my credit report and noticed all of my "hard" inquiries are either on Equifax or Experian.  I've got 8 - 10 inquiries on the latter two CRAs, but not a single one on Trans Union.

 

Out of curiosity, is there a reason why Trans Union isn't used by the big Banks?

Message 1 of 10
9 REPLIES 9
treefrogger
New Contributor

Re: Why so few Creditors use Trans Union?

GEMB, Discover, and State Farm pulled TU.

 

Apparently, NFCU has started using it for certain products.

Message 2 of 10
Walt_K
Senior Contributor

Re: Why so few Creditors use Trans Union?

Also, people report differences in practice based on geographical location.  So you may happen to live in an area not heavily serviced by TransUnion.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Message 3 of 10
Smug
Established Contributor

Re: Why so few Creditors use Trans Union?

Discover uses EQ
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Message 4 of 10
DI
Super Contributor

Re: Why so few Creditors use Trans Union?

Creditors sure didn't shy away from the TU report.  I had a total of 25 inquries as of June 2009.  Come April 24, 2011 my last TU inquiry will fall off.  Putting a freeze on credit reports is worth it. 

Message 5 of 10
treefrogger
New Contributor

Re: Why so few Creditors use Trans Union?


@Smug wrote:
Discover uses EQ

Not here.  2x Discover INQ on TU.

Message 6 of 10
smc733
Valued Contributor

Re: Why so few Creditors use Trans Union?

 


@Smug wrote:
Discover uses EQ

 

There's no real set thing here.  Discover has pulled TU for me both times, while Chase pulled TU also twice, but then pulled EX when I PC'd from Amazon to Freedom, so this is definitely a YMMV case.  It seems like most lenders pull different places dependent on where you live, but there's three that I know of that really are fixed.

 

HSBC - EQ

BofA - EX

Amex - EX

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 7 of 10
haulingthescoreup
Moderator Emerita

Re: Why so few Creditors use Trans Union?

Traditionally EQ served the Southeast, and TU was strong in the upper Midwest. This was back in the pre-computer-explosion days, when geography was more of an element in reporting.

 

Several years ago, some instabilities in both Equifax and TU reports, but especially TU reports, surfaced. Items sometimes, ummm, disappeared, including older accounts btw. My belief is that Experian, as part of its quest for world domination Smiley Very Happy, exploited this and increased its market share, benefiting from its more stable and (generally) more reliable reports. I know that when I started on these boards about 3 1/2 years ago, posters were exclaiming about how suddenly everyone was pulling EX.

 

Just a theory that keeps me entertained, but I think there's some support for it.

 

If TU has any sense at all, they discount the cost of their services to lenders, in hopes of getting some of their business back. But they're definitely the weak sister of the three.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 8 of 10
tntexans72
Valued Contributor

Re: Why so few Creditors use Trans Union?

Barclays pulled TU and I am from Texas. My TU Fico is 695 and I got declined. Waiting for letter to recon.

 

Message 9 of 10
visorboy1974
Valued Contributor

Re: Why so few Creditors use Trans Union?

Discover EQ'd me and softed the heck out of my TU.  

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 10 of 10
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