What Credit Bureau Does Truliant Use? (2024 Guide)
Truliant Federal Credit Union checks all three major credit bureaus plus ChexSystems for membership and loans. Soft inquiries during pre-qualification don't hurt your score, but hard pulls for final applications drop it slightly. Prepare by reviewing your credit reports and ChexSystems history before applying.
Build Credit NowTruliant Federal Credit Union uses all three major credit bureaus. They pull reports from Experian, Equifax, and TransUnion.
The credit union also checks ChexSystems® for banking history. This helps them evaluate membership and account applications.
Strengthen Your Credit Before Applying to Truliant
Building positive payment history improves your chances with Truliant's credit checks. Start building credit safely with accounts that report to all three bureaus.
Improve Your ScoreUnderstanding which bureaus Truliant uses helps you prepare. You can check your reports before applying for credit or membership.
Why Truliant Checks Your Credit
Truliant needs to verify you can repay borrowed money. All financial institutions must review your credit history before approving loans.
Credit bureaus track your financial behavior from your first credit account. They record every account you open, every payment you make.
Your report includes closed accounts, late payments, and defaults. Public records like tax liens and judgments appear too.
The bureaus use FICO software to calculate your credit score. Different FICO versions exist for specific loan types like auto loans.
You get one free credit report annually from each bureau. Want your score included? Visit myFICO.com for a complete report with scoring.
ChexSystems and Banking History
Truliant requires more than good credit for membership. Applicants must meet both credit bureau and ChexSystems requirements.
ChexSystems tracks your checking and savings account behavior. It records bounced checks, overdrafts, and unpaid fees.
Banks and credit unions use ChexSystems to screen new customers. A negative report can prevent you from opening accounts.
Your ChexSystems history stays separate from your credit score. However, it affects your ability to join credit unions like Truliant.
Example: Sarah lives in North Carolina and applies for Truliant membership. She has excellent credit with no loan defaults. But Truliant discovers unpaid overdraft fees in her ChexSystems report. Sarah must resolve these banking issues before joining.
Truliant’s Credit Reporting Practices
Truliant reports your account activity to all three bureaus. Your payment history with them affects your credit score.
The credit union also offers credit review services. Members can check reports for errors and get score improvement advice.
If you’re working to improve your credit score, understanding these reports helps. You can dispute errors and track your progress.
How Truliant’s Credit Checks Affect Your Score
Truliant performs two types of credit inquiries. Each affects your credit differently.
Soft Credit Pulls
Truliant starts with a soft inquiry during pre-qualification. This check shows which loans you might qualify for.
Soft pulls don’t affect your credit score at all. They help the credit union offer appropriate products and rates.
You can shop around with soft inquiries without worry. Your score stays protected during initial research.
Hard Credit Inquiries
Proceeding with a loan application triggers a hard inquiry. Truliant pulls your complete credit history at this stage.
Hard pulls drop your score by a few points. The inquiry stays on your report for up to two years.
Your score drops whether you accept the loan or not. Only authorize hard inquiries when you’re serious about borrowing.
Multiple hard inquiries within 30 days count as one for mortgages and auto loans. Credit card inquiries don’t get this grace period.
ChexSystems Impact
ChexSystems reports don’t directly affect your credit score. They only influence your ability to open bank accounts.
Negative ChexSystems records can block membership applications. Pay any outstanding fees or charges promptly.
You can request your ChexSystems report for free. Call 800-428-9623 or visit their website directly.
Resolve ChexSystems issues before applying to Truliant. Clean banking history improves your membership chances.
Preparing for Truliant’s Credit Check
Check all three credit reports before applying. Look for errors that could hurt your application.
Dispute any incorrect information immediately. Credit bureaus must investigate within 30 days.
Review your ChexSystems report too. Address any outstanding fees or negative marks.
Pay down existing debt to improve your credit utilization. Keep balances below 30% of your credit limits.
Building strong credit takes time and consistency. Our partner Kikoff helps you establish positive payment history safely.
Understanding Your Rights
You control who accesses your credit reports. Lenders need your permission for hard inquiries.
You’re entitled to know which bureau lenders check. Ask Truliant which report they’ll pull if location matters.
Denied applications require explanation under federal law. Truliant must tell you why and which bureau they used.
You can freeze your credit to prevent unauthorized access. Temporarily lift freezes when applying for legitimate credit.
Improving Your Creditworthiness
Pay all bills on time without exception. Payment history comprises 35% of your credit score.
Keep credit card balances low relative to limits. High utilization hurts your score significantly.
Don’t close old credit accounts unnecessarily. Length of credit history matters for scoring.
Limit new credit applications to avoid multiple hard inquiries. Space out applications by several months.
Mix credit types for better scoring when possible. Installment loans plus credit cards show responsible management.
Building credit doesn’t require debt or interest payments. Our partner Kikoff offers credit building accounts that report to all three bureaus.