Why is my score so low?

[ramrod]

I checked my credit score through Equifax's own site and found my credit score about 40 points lower than my Equifax score on myfico? Why is this? Here I am thinking I'm making some progress only to realize my score is much more lower than I thought is was!

[guiness56]

If you checked your FICO score it would be the exact same as from here.

What you may have checked is EQ score and not a FICO.

[ramrod]

I checked both. I had myfico scores since 2/24/2014 and I just check my EQ through their site and there is like 40 point difference on the lower side?????

[ezdriver]

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@ramrod wrote:

I checked both. I had myfico scores since 2/24/2014 and I just check my EQ through their site and there is like 40 point difference on the lower side?????

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The score that YOU [the consumer] gets from Equifax is not the same as the score that a lender would get if the lender pulls yor credit report for mortgage application purposes. From what others have posted here, the EQ score that you get from myFICO is the same as what the lender will see.

This is an area of perpetual confusion for consumers so don't get frustrated over it. It is what it is.

What is you myFICO EQ score and what are you trying to achieve? Maybe we could steer you in the right direction if you shared some details with us.

[guiness56]

EQ does have a FICO score and if you did check that it will be the same as from here.  It is the Beacon 5 just as here is and what mortgage lenders use.

If you just bought EQ's score, there is a very good chance it is going to be different.  They are calculated differently than the FICO scores.

[ramrod]

My fico EQ is 572 and the EQ site says 547. I'm trying to get to at least the 620-640 range to qualify for FHA mortgage. I know I'm a long way off but I have paying off old debts and disputing inaccuracies. It is very disappointing. I'm trying my best and it seems like I'm going nowhere!!!!

[mskarma]

I know this isn't what you want to hear but honestly in my rebuild I have found that time is the most effective cure. Do you have any current revolving credit or installment loans?  When was your last delinquency?  

[guiness56]

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@ramrod wrote:

My fico EQ is 572 and the EQ site says 547. I'm trying to get to at least the 620-640 range to qualify for FHA mortgage. I know I'm a long way off but I have paying off old debts and disputing inaccuracies. It is very disappointing. I'm trying my best and it seems like I'm going nowhere!!!!

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Then that is not a FICO score.  In order for it to be a FICO score you would need to have purchased their SW or Score Power.  Both of those would be 572 also.

Your 572 is the real score.

[ramrod]

Thanks for the info. Now I cn breathe a little easier