General Credit Topics

[devlinnyc]

I'm a little miffed as to why each of the 3 bureaus are reporting each of my scores differently - here's what I see:

3-in-one score from Transunion:

TU 682, Experian 662, Equifax, 673

3-in-one score from Experian

TU 590, Experian 598, Equifax 586

3-in-one score from Equifax

TU 595, Experian 578, Equifax 614

Is this normal -- and how do I now what to believe??

[fused]

Please read the Son of Credit Scoring 101 thread in my sig line. It will answer your questions on scores.

[ztnjpv]

Sounds to me like your EQ and EX scores are based on BEACON model and PLUS Score model respectively. The TU score is probably the Vantage Score, which is generally a higher numerical number than the others. 

[devlinnyc]

Thanks for the reply -- what will mortgage lenders look at? And where can I see this score that the banks will be evaluating me on? Thanks.

[MarineVietVet]

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ztnjpv wrote:

Sounds to me like your EQ and EX scores are based on BEACON model and PLUS Score model respectively. The TU score is probably the Vantage Score, which is generally a higher numerical number than the others. 

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None of those are FICO scores. There is no 3 in 1 service that sells FICO's.

[devlinnyc]

Ok - so then how do I get the score that banks look at to determine a home loan?

[GregB]

As MVV pointed out, NONE of those scores are anything that would be used for a mortgage. The ones that you pulled from Transunion are probably Vantage Scores, which have SOME value even if that value is very, very tiny - lets just call it "almost zero". They have zero value for a mortgage. The scores from EQ and EX have no value at all, other than general education that give you a general idea where you stand. They are not used by any lender of any kind for anything.

Start with the EQ FICO from here: EQ Beacon v5.0. That will be one of the scores that will be used for a normal mortgage application.

Also, refer to Fused's post and read the document suggested.

[llecs]

+2 on the ditto. None of them are FICOs.

[ztnjpv]

"None of those are FICO scores. There is no 3 in 1 service that sells FICO's."

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Did I say otherwise? 

[ztnjpv]

"Ok - so then how do I get the score that banks look at to determine a home loan?"

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In my experience and based on the hearsay I get, the Experian FICO is the most widely used FICO score by lenders for most kinds of smaller and non-home-related loans. Ironically, it's the only one you can't get without a hard pull outside of some special arrangements for a few lucky people....like being a member of the PSECU (PA teachers credit union...which I'm a happy member of through relatives ). But for a mortgage, most any bank will be more thorough and pull all 3 and usually use the middle one.