Loan Companies That Use Equifax Only (2024)

FAQs

Which lenders use Equifax only? ›

PenFed Credit Union is the only loan company that uses only your Equifax credit data. In most cases, you won't be able to determine beforehand which credit bureaus your lender will use. In some cases, lenders will pull your credit report from two or even all three major credit bureaus.

experts recommend having a Equifax credit score of above 750 to boost the chances of your credit card or loan application approval.

Shop and compare loan offers today!

Equifax will communicate your zip code and the purpose of the loan you are interested in to LendingTree. Equifax does not receive or use any other information you provide about your request.

Although there isn't a bank that exclusively uses Experian, some banks that typically use Experian data more commonly include American Express, Bank of America, and Wells Fargo.

Equifax credit scores are not used by lenders and creditors to assess consumers' creditworthiness. FICO scores are general purpose credit scores developed by the Fair Isaac Corporation, which are used by lenders and creditors to help assess consumers' creditworthiness.

Credit score ranges and what they mean will vary based on the scoring model used to calculate them, but they are generally similar to the following: 300-579: Poor. 580-669: Fair. 670-739: Good.

The Equifax Credit Score ranges from 280-850. It is calculated using information in your Equifax credit report. The Equifax credit score is an educational credit score designed to give you an idea of where your credit stands.

You generally need a credit score of 580 or higher to qualify for a personal loan. And you'll typically need a score in the 700s to qualify for favorable terms.

Which credit bureau do most lenders use? ›

When you are applying for a mortgage to buy a home, lenders will typically look at all of your credit history reports from the three major credit bureaus – Experian, Equifax, and TransUnion. In most cases, mortgage lenders will look at your FICO score.

You can check your credit score for free with LendingTree Spring — without impacting your credit. While credit scores range from 300 to 850, the minimum credit score for a personal loan is typically 580. However, borrowers with scores of 640 or higher tend to get better loan rates and terms.

Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO^® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO^® Scores in the Exceptional range.

Clearscore* – free access to your monthly Equifax Credit Report. What you get: Clearscore* provides free Equifax credit scores and reports, updated once a month, and also has an eligibility checker.

The FICO scoring model was developed by the Fair Isaac Corporation and is the most common model used by lenders.

Yes, there are specific credit cards known to primarily pull TransUnion credit reports for approval decisions. These include cards from major issuers like Chase, Citi, and Capital One. However, issuer policies can change, and they may pull reports from multiple bureaus, so it's best to confirm with the issuer directly.

More companies use Experian for credit reporting than use Equifax. This alone does not make Experian better, but it does indicate that any particular debt is more likely to appear on an Experian reports.

The closest competitor to equifax.com are transunion.com, experian.com and myfico.com. To understand more about equifax.com and its competitors, sign up for a free account to explore Semrush's Traffic Analytics and Market Explorer tools.