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When applying for a new credit card, one crucial factor to consider is the credit bureau used by the bank to access your credit report. In the United States, three main credit reporting agencies — Equifax, Experian, and TransUnion — are relied upon by banks and credit card companies to pull your credit report.
This selection of credit bureau can significantly affect the outcome of your credit card application. If multiple card issuers access the same credit bureau in a short time frame, it could lower your chances of being approved due to repeated "hard inquiries" which might negatively impact your credit score.
A diverse selection of credit bureaus by issuers can enhance one's chances of obtaining multiple approvals, as one issuer may not be aware of other applications. It's vital to check your credit reports from Equifax, TransUnion, and Experian annually via AnnualCreditReport.com to be informed about your credit health.
