Credit Score Variance?

[Dejashoot]

Two questions for you guys that work loans for a living.

1 - How much variance do you usually see between a Transunion and Equifax credit score if they both look to be based on the same accounts/balances?

2 - Is there a difference between the scores that I get through my credit monitoring company (that list all 3 major reporters) and what a lender sees when they pull the reports?

[aclark0495]

The Bank I work at only reports to Experian I think. That could make a difference in your credit scores.

[MKH]

It is common that they may vary, up to about 50pts + or -. Not all creditors may report to all three, which can sometimes affect a score with one bureau. At my workplace, we pull all 3 Major ones, and we see some of the same info you see, but also look at DTI (debt to income ratio), and look at the history of payments that you have made to your creditors, the length of time that it has been open. The format just looks different than what you see.

[CountryTexan]

I had monitoring about 6months before we bought our house and when we applied for the loan my score was acctually 40 points higher than the the report told me on all 3 major companies. My mortgage broker said this wasnot the first time he has seen this happen.

[Dejashoot]

I'm comparing them and they all look to contain the same info but score comes out different. I guess they each count things differently.

[wes122984]

Any score you get online that is not a fico score can be way off from what a lender pulls. Only place I know of to get a fico is myfico.com all others you are paying for a worthless score.

[Bill]

Remember the more times your credit score is checked, the lower it gets. Go car shopping one weekend and have a 1/2 dozen dealerships run apps for you to see what the payment would be if you finance through the dealer, and check your score on Monday, it will have gone down. It's really sick but that's part of the equation they use to calculate scores.

Similar if you have had your identity stolen and need to be checking the credict reporting companies a lot. A friend has his go down 150+ points while trying to get the situation resolved.

[captainsling]

checking your own score has no impact on your score. Only when creditors run a hard check. I check mine monthly.

There are differences in the way all three weigh your credit so there will be different scores for all.

[Dejashoot]

checking your own score has no impact on your score. Only when creditors run a hard check. I check mine monthly.

There are differences in the way all three weigh your credit so there will be different scores for all.

Maybe the weight thing is the answer.

[Jon-Paul]

Any score you get online that is not a fico score can be way off from what a lender pulls. Only place I know of to get a fico is myfico.com all others you are paying for a worthless score.

This the score you see from credit monitoring companies are FAKO score, like mentioned above myfico will give you your FICO score