Your credit score from each credit reporting agency is based on the information in your credit file at the credit reporting agency, and the credit history information each credit reporting agency has about you can differ. This can result in your score at the other credit reporting agencies being different from your Equifax score. Each of the credit reporting agencies, including Equifax, may use their own scoring models. These models may evaluate your credit file differently.

FICO® scores can range from 300 to 850, but the majority of scores usually fall within the 600s and 700s: 20% are above 780
20% are in the range of 745 – 780
20% are in the range of 690 – 745
20% are in the range of 620 – 690
20% are below 619

Since there is no universal score cutoff used by all lenders, it is hard to say what a good score is outside the context of a particular lending decision. For example, one lender may determine that a score of 750 may qualify you for a platinum credit card, whereas a score of 675 may indicate that you are a better match for a standard card.

Doing the following typically has a positive impact on your credit score:

  • • Pay your bills on time. Delinquent payments and collections can have a significant negative impact on your score.
  • • If you have missed payments, get current and stay current.
  • • Pay off debt rather than shifting it to other accounts.
  • • Re-establish your credit history if you have had problems. Opening new accounts responsibly and paying them off on time may help in the long term.
  • • Apply for and open new credit accounts only as needed.
  • • Keep credit cards but manage them responsibly. In general, having credit cards and installment loans (and paying timely payments) may favorably impact your credit score in the long term. If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.
  • • Keep balances low on credit cards and other revolving credit.
  • • Shop for rates for a given loan within a short period of time

The following factors typically do not have a positive impact (or may even have a negative impact) on your credit score:

  • • Close unused credit cards as a short-term strategy to try to raise your score.
  • • Open a number of new credit cards, just to increase your available credit. This approach could actually have a negative impact on your score.
  • • If you have been managing credit for a short time, avoid opening a lot of new accounts too rapidly. Adding new accounts will lower your average account age, which could have a negative impact on your credit score, particularly if you are a new credit user.

Generally, anyone with whom Equifax has established a business relationship and who has what is considered a “permissible purpose” under the Fair Credit Reporting Act (FCRA) can obtain a copy of your Equifax credit report. A permissible purpose includes: employment, insurance, consideration of an application for a loan or an offer of credit, and collection of a debt.The companies, groups, and individuals that may have permissible purpose include:

  • • Potential lenders
  • • Landlords
  • • Insurance companies
  • • Employers and potential employers (with your written consent)
  • • Companies you allow to monitor your credit file activity, including for potential signs of identity theft
  • • Those considering your application for a government license or benefit
  • • A state or local child support enforcement agency
  • • Collection agencies
  • • Anyone who has established a business relationship with Equifax and has your written authorization to obtain your credit report.

Your Equifax credit file can also be provided to a third party pursuant to the requirements of a court order or other legal procedure.

It is important to keep up to date with all 3 credit bureaus. Click on the button below to get all 3 reports and scores in minutes!