Your Equifax credit report should be your top priority if you’re considering applying for a Discover credit card, followed by Experian and TransUnion.
We researched 134 publicly available, consumer-reported credit inquiries made in 2016 and 2017. While Discover makes use of all three credit agencies, it has an affinity for Equifax the most.
This is very helpful information because it will help you optimize your credit score with the credit bureau of your choice, which will increase the likelihood that your loan or credit application will be approved. You can find out where financial providers check credit (in this case, Discover), so you can take action to improve your credit score.
According to our research, Discover chooses Equifax as its preferred credit bureau most of the time when it checks credit. Results vary from state to state; here’s how it looks by state:
Knowing when a lender reports your credit account activity to the credit bureaus can impact how you use your credit card and manage your balance And monitoring the borrowing and repayment history documented in your credit reports can also help you understand how your card activity impacts your three-digit credit scores.
Key Points:
- Discover typically reports your account information to the credit bureaus each month, often on the day we generate your statement (the close of your billing cycle).
- Discover reports your information to the three major credit bureaus: Experian, TransUnion, and Equifax.
- Among other details, Discover reports your account balance, credit limit, and payment history.
Discover Credit Reporting Information:
- Discover typically reports your account information to the credit bureaus each month, often on the day we generate your statement (the close of your billing cycle).
- Discover reports your information to the three major credit bureaus: Experian, TransUnion, and Equifax.
- Among other details, Discover reports your account balance, credit limit, and payment history.
Why is it important to know when your credit issuer reports your information?
If you’re trying to improve or maintain your credit scores understanding when your credit card issuer reports your account activity to the credit bureaus is important.
The information on your three credit reports informs the credit score generated from each report. Five major factors impact your credit score: payment history, amounts owed, length of credit history, credit mix, and new credit. Of the five, payment history (about 35% of your score) and amounts owed (about 30% of your score) typically have the largest impact on your credit score
The amount you owe on your credit card increases your overall debt. Furthermore, a high credit utilization ratio—which is calculated by dividing the total amount of credit you use by the total amount of credit available across all of your revolving credit accounts—can lower your credit scores (accounts you borrow from, repay, and again) It could raise your credit utilization to the point where it lowers your credit score if your issuer reports your credit card balance before you pay it off each month.
When applying for new credit, it could be very crucial to have a low credit utilization ratio. Before granting you credit and determining your terms—such as your interest rate and the total amount of credit you will receive—potential lenders might review your credit score.
Tips for Managing Your Credit Utilization Ratio:
- If you want to avoid having your credit card company report a high balance, you can make one or more payments toward your balance before the close of your billing cycle.
- You may also want to hold off on larger purchases if you can’t pay them off before your billing cycle ends.
Additional Information:
- You can monitor and manage your Discover® Card account with the Discover mobile app.
- Consider managing your balance by setting alerts that notify you when you’ve reached a specific limit.
- You can even schedule automatic payments, which may come in handy if you want to ensure that you pay down your balance before your billing cycle ends.
- Consider getting your free credit reports to help you understand how your credit card information appears on your reports and may impact your credit scores.
Important Information:
- This site is for educational purposes and is not a substitute for professional advice.
- The material on this site is not intended to provide legal, investment, or financial advice and does not indicate the availability of any Discover product or service.
- It does not guarantee that Discover offers or endorses a product or service.
- For specific advice about your unique circumstances, you may wish to consult a qualified professional.
Disclaimer:
This response is based on the information provided in the external URL. It is not intended to be a substitute for professional financial advice. Please consult with a qualified financial advisor for personalized guidance.
Discover Credit Reports Data
| State | Credit bureaus used |
|---|---|
| Alabama | Equifax |
| Arkansas | TransUnion |
| Arizona | Equifax and Experian |
| California | Equifax*, Experian, and TransUnion |
| Colorado | Equifax |
| Connecticut | Equifax* and Experian |
| Florida | Equifax, Experian*, and TransUnion |
| Hawaii | Equifax and Experian |
| Georgia | Equifax, Experian, and TransUnion |
| Illinois | Equifax* and TransUnion |
| Indiana | Experian |
| Kansas | Experian |
| Kentucky | Equifax* and TransUnion |
| Louisiana | Experian |
| Maryland | Equifax* and Experian |
| Massachusetts | Equifax and Experian |
| Michigan | Equifax and Experian |
| Minnesota | Equifax |
| Missouri | Equifax and TransUnion |
| Nevada | Equifax* and Experian |
| New Hampshire | Experian |
| New Jersey | Equifax and Experian* |
| New Mexico | Equifax |
| New York | Equifax* and TransUnion |
| North Carolina | Experian and TransUnion |
| North Dakota | TransUnion |
| Ohio | Equifax, Experian, and TransUnion |
| Oklahoma | Equifax |
| Oregon | Equifax |
| Pennsylvania | Equifax* and Experian |
| South Carolina | Equifax |
| Tennessee | Experian and TransUnion* |
| Texas | Equifax*, Experian, and TransUnion |
| Utah | Equifax |
| Washington | TransUnion |
*Denotes the most commonly used credit bureau in that states dataset.
How to Check Your Credit
Applying for credit while not knowing about your credit history could put you at risk of being turned down even though you are aware that your credit isn’t ideal. Alternatively, it might mean that you have impeccable credit, which gives you the confidence to apply for more competitive loans and credit products.
Start by checking your own credit. Don’t worry, it won’t drop your credit score. Find out that while doing a self-check is referred to as a “soft” pull that has no bearing on your score, having your credit pulled through Equifax will have a minor impact on your credit.
One legitimate and free resource is AnnualCreditReport.com, the only official credit report database authorized by the U.S. government itself, so there’s no need to fret about scammers soliciting your credit card or personal information. The site provides you with your full, detailed credit report aggregated from Equifax, Experian and TransUnion alike.
Keep some of these tips in mind when accessing your credit report:
- Do some research on yourself. The website might ask you a number of questions about yourself as part of the verification process, some of which might or might not be true. If street names and numbers are unclear, have a list of banks you have accounts with on hand, the names of your student loan providers, and your previous addresses available. Avoid being swayed to select an answer that is obviously incorrect; whenever possible, select “none of the above.” ”.
- Double-check your information. If you enter your date of birth or Social Security number incorrectly or misspell your name, the website may think you are not who you are and prevent you from viewing your report. Ensure that all your personal information is accurate.
- Compare and contrast credit reports. When you pull your credit report again, save a copy and keep it close at hand. First of all, if you try to refresh your browser, the website might lock you out and only show you a portion of the package! Next, compare the updated and old reports to find out how your credit is doing.
- Explore your options. Would you rather apply by phone or by mail? Send this form to Annual Credit Report Request Service, P O. For a hard copy, mail Box 105281 Atlanta, GA 30348-5281, or give us a call at 1-877-322-8228.
When it comes to credit, what’s on your paper report reflects your real-life credit situation. Furthermore, your actual credit situation matters more than just how you appear; it has the power to turn a credit application from a “yay” to a “nay.” ” (And that’s even when you have the best of financial intentions. ).
Ensuring that you are following all the proper procedures to improve your credit will guarantee that your efforts show up on your credit report and that lenders who check your credit are impressed.
Debt that remains unpaid communicates to lenders such as Discover that you are not prepared to take out new loans and incur additional debt.
Pay off as much of your credit card balance, student loan balance, auto loan balance, and other outstanding debt as you can each month to clean up your credit profile. ).
It’ll reduce your debt-to-credit ratio, the amount of credit you use vs. what’s available to you.
Which credit bureau has the highest score? Lowest credit scores? Equifax? TransUnion? Experian?
FAQ
Does Discover use Experian or TransUnion?
What credit score system does Discover use?
Which score is more accurate TransUnion or Experian?
Why is my Discover credit score different than Experian?