A credit bureau is an agency that collects and researches individual credit information and sells it for a fee to creditors so they can make a decision on granting loans.
The credit bureaus all have their own credit scores: Equifax ScorePower ( FICO score from Equifax ), Equifax Credit Score, Experian's PLUS score, and TransUnion's credit score. In addition, many large lenders, including the major credit card issuers, have developed their own proprietary scoring models.
The most popular credit scoring models along with their ranges:
- FICO Score: 300-850
- TransUnion (TransRisk): 100-900
- Experian National Equivalency Score: 360-840
- Equifax: 280–850