Question

[Anonymous]

Do creditors use Equifax to screen people for pre-approved credit, while Experian, is used by creditors to screen applicants who have applied for their credit or loans? Is that how it works? Just asking.

[jamie123]

There are three major credit rating agencies: Equifax, Trans Union and Experian

Lenders may use one, two or all three bureaus when checking an applicants credit rating. It is up to the lender and their in house policies as to which credit rating agency they use and how many credit rating agencies they use.

[SouthJamaica]

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@Anonymous wrote:
Do creditors use Equifax to screen people for pre-approved credit, while Experian, is used by creditors to screen applicants who have applied for their credit or loans? Is that how it works? Just asking.

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No, different lenders use different bureaus for preapproval screening.

[Anonymous]

I see.

[NRB525]

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@Anonymous wrote:
Do creditors use Equifax to screen people for pre-approved credit, while Experian, is used by creditors to screen applicants who have applied for their credit or loans? Is that how it works? Just asking.

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It's more a case that each bank favors certain bureaus. Then, certain banks are popular for credit card applications, certain cards can be the "flavor of the month", and then the reported bureau will tend to look like that bureau is used for approvals.

Generally, TU is used the least, which leads to questions in the CC forum; "Which banks pull TU? My TU INQ are low".... not exactly the best way to select your next credit card, but there they go...

Generally, EX gets used a lot. AMEX pulls EX exclusively. Citi and Chase have been double pulling my EX and EQ, and Capital One does all three at once.

EQ can sometimes be a single pull, but I get the impression it is rather rare to be the main INQ.