Why does each credit report vary by credit reporting agency?
When viewing your credit reports you will notice some accounts differ for each of the credit reporting agencies. Some accounts will have different information between the credit reporting agencies while others may not even appear on all three reports.
The reason reports differ is because each of the credit reporting agencies collects data independently. Some furnishers including smaller banks and debt collection agencies do not report to all three credit reporting agencies.
Public record information such as bankruptcies, tax liens, garnishments, etc., is sometimes gathered by outside furnishers at different times. In 2018, a study by Consumer Federation of America estimated that tens of millions of consumers are at risk of being penalized by inaccurate and inconsistent credit reports.
This is why it is always recommended you have credit monitoring so that you can identify and correct negative items across all three credit reporting agencies. If you have have any questions about your credit reporting or need a recommendation on a good credit monitoring company, call Us! 877-483-8273