Credit Score & Monitoring Questions

[Anonymous]

Hi everyone! I am new to here..  I paid Credit Check Monitoring w/ Free Credit Score every month for $13.95. I also paid Lexington Law for $79 every month to repair my credits. I know it is relatively expensive but they have removed 15 items from my credit since I joined. I began to check several website to check for my credit score such as Credit Karma and AnnualFreeCredit, I noticed that my credit scores are not all same. I am beginning to wonder why they are not the same and which are creditiblity?

Can anyone tell me which website is accurability? I have yet purchase MyFico because I alread paid Credit Check Monitoring w/ Free Credit Score.

Thank you

[tufa4311]

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@Anonymous wrote:

Hi everyone! I am new to here..  I paid Credit Check Monitoring w/ Free Credit Score every month for $13.95. I also paid Lexington Law for $79 every month to repair my credits. I know it is relatively expensive but they have removed 15 items from my credit since I joined. I began to check several website to check for my credit score such as Credit Karma and AnnualFreeCredit, I noticed that my credit scores are not all same. I am beginning to wonder why they are not the same and which are creditiblity?

Can anyone tell me which website is accurability? I have yet purchase MyFico because I alread paid Credit Check Monitoring w/ Free Credit Score.

Thank you

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There are 10's if not 100's a proprietary credit scores out there and they are all "correct" based on their own score model. Asking which is "accurate" is not the right way to look at it. What is importnat is what credit score matters to the company you are applying to. Basically there are FICO scores and Non-FICO scores, or "FAKO's" as they have come to be known. FICO reports that 90% of top lenders use FICO for credit decisions. It is clearly accepted as the industry leader.

If you want to use others that's fine but they are not FICO scores and are not used by the majority of lenders.

As well, your FICO score, any credit score, is based on the information in your credit report, you have 3 credit reports from the 3 main credit agencies, Equifax, Experian and TransUnion, and you will have a FICO score for each of those 3 credit reports. Your credit reports may have different info in them thus your scores may not be the same. In addition, the info in your 3 credit reports is always changing, even on a daily basis, thus your FICO credit scores are not static and will change with time, sometimes daily based on new info added to your credit reports or simply due to the passing of time (time is one of the major factors taken into account in you credit score).

Feel free to view all the other credit scores but in the end they do not matter, they are not used by Lenders thus they are just a guide, a guide that can be way off (or it can be close as well, it's a toss). Not something, well, to bet the house on...

Additional info:

http://www.myfico.com/crediteducation/questions/different-scores-for-3-credit-bureaus.aspx

[takeshi74]

This.  Accuracy depends on the intended target.  You can't assume that one score is most accurate.  All scores are accuarate but only for their own model so you can't use a score generated by one model to determine what your score would be with a different model.  If you want to know what score a creditor will pull for you then you need to know the specific scoring model and the CRA that the creditor uses.  They do not all use the same scoring model or CRA.  Even those that use a FICO do not all use the same FICO model.

Don't overlook the Understanding FICO Scoring subforum and its stickies.

All this is why I recommend learning to assess your own reports versus fixating on specfic numbers.  Credit decusions aren't just about score anyway but good reports will lead to good scores.