Despite matching information on your TransUnion and Equifax credit histories, there may be a noticeable difference in scores from them. More than likely, your TransUnion credit score is higher than your Equifax score because of different information gathering channels. The difference in scores, however, may not matter much to lenders.
Credit Bureau Issues
Your TransUnion score might be higher than your Equifax score because of different information on file, since some of your lenders may not report to both bureaus. Equifax or TransUnion may not know about some public records, such as a court judgment, that normally count against your credit score. One company might have mixed some of your accounts with another person's, especially if you use different versions of your name on credit applications, such Bob instead of Robert. Also, the bureaus may update their records at different times.
Minor Factors
The credit bureaus have slightly different scoring systems. Most lenders use the FICO scoring system set up by Fair Isaac Corp. The scores calculated by TransUnion and Equifax are close, but not quite the same as a FICO score. Equifax and TransUnion also have slightly different policies on reporting certain items. TransUnion, for instance, reports dismissed Chapter 13 bankruptcies for seven years, while Equifax reports this for 10 years. But for the most part, Equifax and TransUnion report the same information.
Considerations
Most people see variation among the scores from the three national credit reporting bureaus, so lenders know and account for this. Some lenders might average your scores from all three, or, more commonly, use the middle score. Unless you have more than a 50-point difference between your TransUnion and Equifax scores, this variance is unlikely to affect your ability to get credit.
Tip
It couldn't hurt to run your credit report from TransUnion, Equifax and Experian for potential errors. Consumers are legally entitled to a free report from each bureau every year through the Annual Credit Report website (annualcreditreport.com). Look for omitted items and incorrect details on accounts. A wrong credit limit, for example, could change the figures showing what percentage of your credit limit you've used -- known as credit utilization. If you dispute a fact and win, the agency must report the correct information to the other bureaus.
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