What Accounts Factor Into Your Credit Score?
Are bank and brokerage lines of credit reflected in your credit score?
Laura Adams, MBA
Reader January Y. asks: Are bank and brokerage lines of credit reflected in my credit score?
Answer: Yes, every type of major credit account reports customer transaction history to the 3 national credit reporting bureaus: Equifax, Experian, and TransUnion.
Many people are surprised to know that there are over a thousand different credit scoring models used by different types of merchants–such as mortgage lenders, auto lenders, credit cards, and insurance companies.
Though credit scoring models differ, they all use the information in your credit report to come up with a score.
If you’re not sure what’s being reported on your credit report, you need to check it right away.