Sunday, February 5, 2023

What Credit Card Companies Pull From Experian

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Conditions That Might Cause Your Application To Be Declined


When assessing your ability to pay back debt, Goldman Sachs1 looks at multiple conditions before making a decision on your Apple Card application.

If any of the following conditions apply, Goldman Sachs might not be able to approve your Apple Card application.

If you’re behind on debt obligations4 or have previously been behind

  • You are currently past due or have recently been past due on a debt obligation.
  • Your checking account was closed by a bank .
  • You have two or more non-medical debt obligations that are recently past due.

If you have negative public records

  • A tax lien was placed on your assets .
  • A judgement was passed against you .
  • You have had a recent bankruptcy.
  • Your property has been recently repossessed.

If you’re heavily in debt or your income is insufficient to make debt payments

  • You don’t have sufficient disposable income after you pay existing debt obligations.
  • Your debt obligations represent a high percentage of your monthly income .
  • You have fully utilized all of your credit card lines in the last three months and have recently opened a significant amount of new credit accounts.

If you frequently apply for credit cards or loans

  • You have a high number of recent applications for credit.

If your credit score is low

Goldman Sachs uses TransUnion and other credit bureaus to evaluate your Apple Card application. If your credit score is low ,4 Goldman Sachs might not be able to approve your Apple Card application.

How Trade Lines And Business Credit Cards Differ

This article specifically shares how to identify business credit cards that report to Experian, but there are other ways to build your credit score: trade lines. These include vendors and suppliers from which you buy raw materials or services to be used in your business. They may or may not report to Experian. If youre making on-time payments to them, however, its in your best interest to get them to report. Experian provides a simple template letter you can send your vendor to encourage them to report your activity to the agency.

Currently, just 10,000 of the 500,000 suppliers who extend business credit today report to any credit agency. Some may report to agencies other than Experian. Being proactive and asking your vendor to specifically report to Experian may be one of the best things you did for your credit. Until trade lines reporting become more widely-accepted, expect to work a bit to get your on-time payments reported. Credit cards should continue to report your history automatically.

Know More Before You Apply

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How Hard Inquiries Show Up On Credit Reports

This is an important opportunity for creating your credit card application strategy. Since companies only pull one report, they are only able to see recent inquiries by other companies that pulled a report from the same agency. For example, if Chase pulls my Experian report when I apply for Chase Sapphire Reserve they will only see inquiries from other companies that recently pulled my report from Experian. Any hard pulls on my TransUnion or Equifax reports will remain unseen.

Before opening new credit cards, you should figure out which credit bureau each bank pulls. This may vary by state. Sign up for an account with for free access to your TransUnion and Equifax credit reports. Also, make a free account with Experian. This will provide a full picture of which credit bureau is pulled from each bank.

Unreliable Payment Processing And Outdated Technology

Business Credit Report Ultimate Guide

Some Comenity cardholders report that the bank’s payment processing system can, at times, be unreliable, especially with payments made close to the due date. This can potentially frustrate people who pay their credit card bills at the last minute, particularly if the bank levies a late fee on a payment. However, this shouldn’t be an issue if you pay your bill far enough in advance.

Comenity’s website and Comenity Bank’s apps are also outdated and harder to navigate compared to the technology of larger issuers. Plus, Comenity Bank’s apps are only available for certain credit cards . You may want to choose a different issuer if convenient online account management is important to you.

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What Do The Credit Bureaus Say

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.

Tip: A hard inquiry lowers your credit score, albeit by a small amount. This is because it can send an uncertain signal to a potential lender. For instance, why did you apply for new credit? Are you going to max out a new credit line? This is why its important to only apply for credit when you need it.

Lenders That Pull Only Equifax Reports

Although a lender might pull your credit report from a sole source you specify under some circumstances, many lenders use multiple credit reporting agencies. Even if a lender does use the services of only one credit bureau, there’s still a good chance it won’t be the one you want. Finding a lender that will only pull your Equifax report isn’t an exact science and may take a good bit of research and effort, but it can be done.

Read Also: What Is Credit Card Reconciliation

Who Controls Access To Your Credit Report

You have three main credit reports â one with each of the three credit reference agencies in the UK: Experian, Equifax and CallCredit.

These collect data about your credit history, along with other relevant information, and use it to create a credit report. This information comes from a range of sources, such as public records and lenders. Note that companies may share different types of information, and they might not share the same information with all three CRAs.

Each credit reference agency creates its own credit report, so the information each one holds may be different.

Which Cards Report To Experian

Does Chase offer a NO PG business credit card?! Experian TransUnion dun & Bradstreet paydex

Simply put, all major credit card issuers should be reporting to Experian. As one of the big three agencies for both consumer and business cards, Experian leads many of the efforts to protect consumers, secure credit technology, and develop scoring models that more accurately assess business credit risk. If you have an active credit card issued by a major bank, assume that your card is reporting to Experian.

Another way to look at it is to acknowledge that credit data is cyclical, as we mentioned above. The chicken and egg process looks like this:

  • Business credit cards use Experians credit data to decide if youre a good risk and can approve you based on Experians credit profile of you.
  • After you get the card, the bank uses your payment history, usage, and debt to available ratio to report information back to Experian.
  • Your credit profile is updated with this new info.
  • The cycle begins again.

Each new card you apply for may look at Experians data to give you access to more and more credit. This cyclical approach rewards users who apply for cards within the Experian network of cards. These include cards issued by:

  • American Express
  • Retail cards, such as those issued by big box stores
  • And many, many more!

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My Third Experian Boost

Im not a Boost addict, I swear. This time, Ive done it for you, dear reader. Before I started writing this article, I decided to boost again because I had some data to add. I was paying for the Internet with a card I hadnt connected yet. Plus Experian now lets you report your Netflix payments.

Boosting my FICO score while binging Bridgerton? Yes, please.

So Ive boosted again. This time, Ive added all of my credit card accounts, just to be sure every eligible payment will count toward my score. I didnt expect much, but I wanted to get the most out of the service.

My score has increased by 13 points, taking my score to the next credit tierfrom fair to good.

Now my FICO score is at 680, and in total, Experian Boost has raised my score by 22 points. Its less of a boost than other users report. But without it, it could take me another year to reach good credit. Now that years of fair credit are officially behind me, I may qualify for some of the most exciting credit cards , and Im considering refinancing my car loan.

How Your Initial Credit Limit Is Determined

To determine your initial credit limit, Goldman Sachs uses your income and the minimum payment amounts associated with your existing debt to assess your ability to pay.

In addition, Goldman Sachs uses many of the same factors that are used to assess whether your application is approved or declined, including your credit score and the amount of credit you utilize on your existing credit lines.

Learn how you can request a credit limit increase.

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Reasons To Avoid Getting A Comenity Credit Card

Comenity credit cards can be great for earning store rewards and building credit. However, like most store lines of credit, the Comenity credit cards come with high annual percentage rates that result in costly monthly interest payments. As such, it’s important to consider your personal financial situation and ability to pay your credit card bills each month before opening a Comenity credit card.

Get Set Up With Equifax

Which Credit Card Companies Use Equifax / Which Credit ...

If your search shows that Equifax has a record of your business, pull your Equifax reports and scores. See if you have trades reporting. Equifax can have an established report and score for you even if you have no trade lines reporting.

This is especially true if you have some type of public record out there, like a bankruptcy, lien, or lawsuit. In this case, access your Equifax company report and score even with 0 trades reporting.

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Why Get Your Free Experian Credit Report

Gain credit insights

View the same type of information that lenders see when requesting your credit. See whoâs accessing your data and get tips on how to improve your financial health.

View your score factors

Your credit score is calculated from the information found in your credit report. See the positive and negative factors that impact your FICO® Score.

Raise your credit scores instantly

Get credit for your phone and utility bills by adding positive payments to your Experian credit file.

Average users who received a boost improved their FICO® Score 8 based on Experian Data by 12 points. Some may not see improved scores or approval odds. Not all lenders use credit information impacted by Experian BoostTM.

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Place A Credit Freeze

Contact each credit reporting agency to place a freeze on your credit report. Each agency accepts freeze requests online, by phone, or by postal mail.


PO Box 26Pittsburgh, PA 15230-0026

Your credit freeze will go into effect the next business day if you place it online or by phone. If you place the freeze by postal mail, it will be in effect three business days after the credit agency receives your request. A credit freeze does not expire. Unless you lift the credit freeze, it stays in effect.

How Will The Experian Credit Score Affect My Loan Applications

No PG Business Credit Card (Soft Pull Only) – Business Credit 2021

The effect of a good/bad credit score is seen in the approval or rejection of a credit score. Should the score be low and payment history bad for other credit products, the banks can reject a loan or credit card that has been applied for. Should it be good then the banks can go ahead and offer the loan or credit card to the individual.

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Minimize Appearance Of Hard Pulls

  • Many credit card issuers dont like to see a dozen plus inquiries over the past year or two, so by trying to go for certain bureaus, you can minimize the appearance of being a credit savage.

Using the same example as above, if you were to apply to a bank that pulls TransUnion they would not technically see your recent Experian inquiries. So it would not look like you are aggressively pursuing credit as much as you are, which is a good thing.

Can I Be Guaranteed That The Credit Cards On This List Use Only Experian

Unfortunately, we cant guarantee that the credit cards listed here will only and always use Experian when determining creditworthiness for an applicant theres no credit card issuer that only relies on one specific bureau.

We also cannot make a claim or guarantee that youll be approved for any specific credit card on this list.

Your initial credit check may be done by Experian, Equifax, or TransUnion. Consider taking steps to improve your score with all three agencies to better your chances.

Meanwhile, you can use this information to make decisions about whether to proceed with an application or avoid the hassle.

Although theres no absolute guarantee that the following banks and financial institutions are going to rely exclusively on Experian reports, this information can improve your odds of getting approved for a credit card if your FICO score is best through Experian.

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What Credit Cards Pull From Experian

What are the credit cards that pull Experian only?

  • For travel rewards Chase Sapphire Preferred. $95 annual fee waived the first year.
  • For everyday spending Citi Premier Card . $95 annual fee waived the first year.
  • For bad credit Wells Fargo Secured. $25 annual fee.
  • For hotel perks Starwood Preferred Guest credit card from American Express.

Many reports also indicated Equifax pulls, though many of these were in conjunction with an Experian credit report inquiry.

  • Citi Premier Card.
  • Platinum Card® from American Express.
  • American Express® Gold Card.
  • Blue Cash Preferred® Card from American Express.

Beside above, what credit cards pull from TransUnion? Here are some credit cards that may use TransUnion:

  • For low APR: Barclaycard Ring Mastercard. No annual fee, balance transfer fee or foreign transaction fee.
  • For bad credit: Harley-Davidson Secured No annual fee.
  • For cash rewards: Wells Fargo Cash Wise Visa.
  • For long 0% APR: Wells Fargo Platinum Visa.

Secondly, what credit cards pull from Equifax?

Here are some of the best credit cards that may use Equifax only:

  • Chase Sapphire Reserve: $450 annual fee
  • Citi Double Cash: $0 annual fee
  • Discover it: $0 annual fee
  • HSBC Premier World Mastercard: $95 annual fee, waived the first year

What credit report does Bank of America pull?


Don’t Close Your Cards

Which Credit Reporting Agencies Banks Use To Pull Your ...

Once you’ve paid off a card, it can be really satisfying to cut it up! But don’t close your account. Keeping your credit card account open but unused helps give you a long, established credit history, and can improve your overall credit utilization ratio. . Although sticking the credit card in a drawer has it benefits you may also be able to request a credit card freeze. You may be familiar with a credit card freeze since it used whenever you report your credit card lost or stolen. In this case, you may use a credit card freeze if you want the card open in your name but don’t want or need to use the credit card for purchases.

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Should You Use Experian Boost

Theres no harm in trying Experian Boost. Its completely free, Experian will keep your data safe and you may get a nice credit score increase.

That said, I do think boosting makes sense to some users more than to others. If your credit is already in a great shape, it might not make that much of a difference. Also, remember that lenders look into more than your credit score. For instance, if youre applying for a mortgage, the lender will scrutinize every little thing on your credit report and might not care that much if you pay your Netflix subscription on time.

On the other hand, there are a few situations where Id highly recommend boosting, including:

  • When youre new to credit.Building credit from scratch requires time and effort. Using Experian Boost can help you get your foot in that credit door, so that youre off to a good start.
  • When your credit is poor or fair.Rebuilding credit can be even harder than starting from scratch and will probably test your patience. Boosting can be very helpful here. According to Experian, consumers with very poor to fair credit score tend to get the best results.
  • When youre close to the next credit tier. If youre just a few points away from the next credit tier, Experian Boost can help you get over the ledge. In such cases, these few points can make an amazing difference, qualifying you for better credit card products, lower interest rates and better loan terms.
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