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New Visitor
Posts: 4
Registered: ‎08-01-2011
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3 Credit Scores... big discrepancy.

Hopefully someone would know...

 

I'm looking to buy a house with my wife. My wife is in the 800's in her credit... completely pristine.

 

I've rebuilt my credit from the ground up, and did a good job of it.

 

When I checked my credit scores today, 2 of the reporters (Transunion and Experian) had me in the 700's. Equifax, oon the other hand, had me in the 590's.

 

Will Equifax cause me to be denied for a loan? How much should I be worried about this right now? Why would there be such a humongous discrepancy?

Moderator Emeritus
Posts: 17,409
Registered: ‎07-14-2009
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Re: 3 Credit Scores... big discrepancy.


LDigeorge wrote:

Hopefully someone would know...

 

I'm looking to buy a house with my wife. My wife is in the 800's in her credit... completely pristine.

 

I've rebuilt my credit from the ground up, and did a good job of it.

 

When I checked my credit scores today, 2 of the reporters (Transunion and Experian) had me in the 700's. Equifax, oon the other hand, had me in the 590's.

 

Will Equifax cause me to be denied for a loan? How much should I be worried about this right now? Why would there be such a humongous discrepancy?


Hi LDigeorge and welcome to myFICO.

 

Were those scores pulled by a lender? If not may I ask where you bought them? I ask that because there are few places left that will sell you actual FICO scores. If you bought the TU score from the Transunion website that is called a VantageScore. If you bought the Experian score  from the EX website that is called a Plus score and neither of these scores is a true FICO score. The VS is supposedly used by a few lenders but I have yet to see anyone post that a lender used a VS.

 

The Plus score is not used by any lenders. Equifax will sell you an EQ FICO score but you have to look very hard to find it. Equifax also sells their own "Equifax Credit Score" but this is not an EQ FICO Score.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".


 

Valued Contributor
Posts: 1,671
Registered: ‎05-24-2007
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Re: 3 Credit Scores... big discrepancy.

What kind of "credit scores" ???

 

If you purchased an EQ FICO here on myFICO, that should match the EQ score that a mortgage lender will pull.

 

You can purchase a TU FICO here that will match some mortgage lenders - if they use TU FICO '98.

 

Basically nowhere to purchase an EX FICO off the internet.

 

You can at least start by looking at the three reports you pulled today and seeing if the information is all the same on each report. That is a good place to start while you research the different types of credit scores. You should also determine the source of your wife's scores.

New Visitor
Posts: 4
Registered: ‎08-01-2011
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Re: 3 Credit Scores... big discrepancy.

Hi! And thanks for the help.

 

I went to (gasp) Annual Credit Report and paid each (Equifax, Transunion and Experian) for the "Credit Score" I'm pretty sure I bought the wrong one Smiley Sad

 

Moderator Emeritus
Posts: 17,409
Registered: ‎07-14-2009
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Re: 3 Credit Scores... big discrepancy.


LDigeorge wrote:

Hi! And thanks for the help.

 

I went to (gasp) Annual Credit Report and paid each (Equifax, Transunion and Experian) for the "Credit Score" I'm pretty sure I bought the wrong one Smiley Sad

 


You aren't the first (or last) to do this. For certain the EX and TU scores are what we call "FAKO" (non-FICO) scores. You might have lucked out on the Equifax score but if you don't see the word "FICO" anywhere on the report then none of these is a FICO.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

New Visitor
Posts: 4
Registered: ‎08-01-2011
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Re: 3 Credit Scores... big discrepancy.

Actually, no! Smiley Happy

 

I biught the fico score (an expensive day) and found that number was significantly higher than the Equifax score.

Moderator Emeritus
Posts: 17,409
Registered: ‎07-14-2009
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Re: 3 Credit Scores... big discrepancy.


LDigeorge wrote:

Actually, no! Smiley Happy

 

I biught the fico score (an expensive day) and found that number was significantly higher than the Equifax score.


Just to be clear (I'm easily confused  Smiley Happy  ). You got an Equifax score from myFICO or from the Equifax website?

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

New Visitor
Posts: 4
Registered: ‎08-01-2011
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Re: 3 Credit Scores... big discrepancy.

I originally bought it from the Equifax website. (Fako) and then bought from the myFico page. The myFico score was significantly higher than my Equifax score. The myFico transunion score was slightly lower than the Fako from Transunion.

Moderator Emeritus
Posts: 17,409
Registered: ‎07-14-2009
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Re: 3 Credit Scores... big discrepancy.


LDigeorge wrote:

I originally bought it from the Equifax website. (Fako) and then bought from the myFico page. The myFico score was significantly higher than my Equifax score. The myFico transunion score was slightly lower than the Fako from Transunion.


Good. At least now you have some base lines to work with. But don't compare FICO and FAKO scores. All that will do is frustrate you. Even if they are close that is pure coincidence. Sometimes a FICO will be higher than a FAKO; sometimes the other way around. There is no set pattern to it.

 

Just my 2 cents.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Senior Contributor
Posts: 3,889
Registered: ‎05-24-2011
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Re: 3 Credit Scores... big discrepancy.

MV is right.  Don't compare.   One of DH's fakos was 100 points LOWER than his real deal!  Smiley Happy  That was a great bonus.  But, it could go the other way just as easily.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720

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