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New Member
dollarbill
Posts: 4
Registered: ‎03-17-2007

Different Scores: myfico & Experian!!

I subscribed to "myfico" to download my credit reports (all 3) and thought my scores were too low (-61) from previous year. Not a happy camper with these scores, I decided to subscirbe to Experian reports (again all three, same day) and my scores were: +48, +90, +109.
 
What is up with this??? I will use Experian reports since this is the larger and more reputable source used by many more companies.
 
 
Regular Contributor
okrogius
Posts: 169
Registered: ‎03-16-2007

Experian 3-in-1 does not give you fico scores. They are p...

Experian 3-in-1 does not give you fico scores. They are plus scores (fako if you prefer) - for the most part worthless as they aren't used by anyone.

It doesn't matter where you get your report from, it will have the same info assuming it's the same agency (an experian report from myfico is essentially the same one you get directly from experian). Granted presentation is different, and experian may show you some more info such as soft inquiries, those aren't really all that important. Score wise though, see above.
Regular Contributor
Skiffy
Posts: 252
Registered: ‎03-16-2007

Actually, Experian Plus scores are almost exclusively use...

Actually, Experian Plus scores are almost exclusively used by consumers. I believe there are a very few places that do use them for credit granting (either as a primary or secondary score, and I believe Macy's and Nordstrom are among them), but you're better off relying on the myFICO scores.
New Member
dollarbill
Posts: 4
Registered: ‎03-17-2007

Confused - Admin Help?

Since my scores are off by +/-100 points between FreeCreditreports.com (Experian Plus score) and myfico, I will have to contact my mortgage company to find out which reporting agency/formula they use to analyze and score Experian/Equafax/Transunion reports before I allow them to check my credit. - this is unreal.
 
Myfico users should check their scores on Freecreditreports.com and compare the difference. I do not know which score to use!  $$
Regular Contributor
okrogius
Posts: 169
Registered: ‎03-16-2007

The myfico scores are a better choice. Although they stil...

The myfico scores are a better choice. Although they still will vary slightly from those your mortgage uses (as most likely it's a mortgage enhanced fico formula), but will be much close to the scores you get on myfico.
Member
ru2sirius
Posts: 6
Registered: ‎03-12-2007

Same thing happened to me.

Experian said my score was in the low 700s, so I about fell over when I checked FICO, and my score was only 653, but FICO is the one everyone goes by when you apply for a loan, so I'm going to be working on my score for quite a while before I bother applying for a loan.
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007

Dollar bill, The mortgage lender will use your FICO score...

Dollar bill, The mortgage lender will use your FICO scores for any decison on lending they use beacon scores for EX.  Pull your three in oen from myfico and that will give you the truth on where you stand.  The Vantage and Plus scores are simply used to simply explainations for consumers and are not used in lending that I knwo of, though those comapnies are trying to sell these scores as they claim they give a fairer look at your current creditworthiness.  They only look at the past two years of payment history where FICO considers your entire payment history as it appears in their records.

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