Josh: Do credit bureaus share information on your credit?
Samira: No, they do not share information with each other unless there’s an allegation of fraud. That’s the only exception. Then they technically have an obligation to share information and report to each other that they’re received fraud identity theft complaints. The reality is is that each one has their own niche, if you will. For example, Equifax is the oldest and the way they handle the collection of data is different than Experian. Experian is probably the largest and they’re also owned by a company in England. Each one has their own styles on how to collect data. That’s why you’ll notice that when you credit reports, some of the information is different from one bureau to the other and that’s what causes a different score.
Why credit bureaus share information that might impact your prospects for credit repair?