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I recently took out a small loan at my credit union and was pleased to see that I finally had a 600+ on my equifax. However, I signed up with Experian.com free trial, got charged after 7 days so I paid for scores for all 3 bureaus. When I received the two scores it was within 1 week and I do not see how this new loan can take my Equifax score from a 612 to a 563.
Should I not rely on other bureaus who offer combo reports to get each others scores? I am floored at the difference and dont want to pay any more than I have to.
The scores you get from the CRAs are not FICO scores, EQ does have one but it is hard to find and it would specifically state it was a FICO score.
What you got should say for educational purposes only.
If your lender said your EQ FICO was 600+, do you know what version/model they used? Did they give a score range? The one from here is Beacon 5 and the one most lenders use. If it is Beacon 5 then you can rest assured your EQ score is 600+. There is a Beacon 9 but not widely used.
Hi julieray419, the score you received from experian's website are FAKO scores. The lender would pull a version of a Fico Score. I would ask what version they pull. I refer to fakos as educational scoring models and that's it.
Ok thanks so much! Feels like I wasted money but none the less I appreciate yoour help!