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lon3volf
Posts: 5
Registered: ‎06-13-2014
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Equifax Complete Advantage vs. Experian Score

Hello Forum!!

 

I had to join this site and had to post this...

I bought the complete advantage package from Equifax site as well as Experian site to see how the scores compare. 

Equifax product gave the scores where TransUnion's score matched what I had with Credit Karma score. Th Experian score from Equifax site was 40 points lower than the Experian site. 

 

Why are these different?

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Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Equifax Complete Advantage vs. Experian Score

They are all FAKOS, and they use their own scoring methods.  Problem is, lenders don't use those scores.  

 

From Experian's website:

Calculated on the PLUS Score model, your Experian Credit Score indicates your relative credit risk level for educational purposes and is not the score used by lenders. Learn More.

 

From Equifax's website:


 The credit scores provided under the offers described here use the Equifax Credit Score™, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

 


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
New Member
lon3volf
Posts: 5
Registered: ‎06-13-2014
0

Re: Equifax Complete Advantage vs. Experian Score

That does make sense in regards to the scoring model used by Equifax vs. Experian. So only way to get my real FICO score is from this site i guess? 

I moved to this country 2 months ago and i currently have on credit card with DCU with 5k CL. DCU does provide FICO Equifax score - however I came to know that it takes few more months before I start seeing it on monthly basis. 

 

The reason i had to get these scores was to identify if i'm in a good position to apply for Chase SP card while i do have my savings and checking premier plus accounts with them set up for dircet deposit. I'm keeping my fingers crossed considering score EQ-689, TU- 709 and EX-721. 

 

Any thoughts?

 

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Revelate
Posts: 9,756
Registered: ‎12-30-2011
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Re: Equifax Complete Advantage vs. Experian Score

[ Edited ]

Welcome to the forums!

 

Typically Chase has wanted to see 1 year on a revolving tradeline: they aren't new credit friendly in comparison to a lot of other lenders.

 

If you have the relationship with them, I'd go in and talk to a banker: explain the situation, tell them what you have and why you don't have a score (need six months on a currently open tradeline in your case) and see what they can do you for you if anything and stress this is your primary financial institution.  They may play ball or they may tell you to wait for some period of time, but exceptions have been made for people with accounts at Chase and worst case they tell you no.  They may steer you to the Freedom as well, take if it they offer IMO as a two step to the CSP in 12 months or whatever.  Better card than any of the DCU offerings other than some of DCU's bonuses like the Christmas 2% special they ran last year.

 

As for FICO scores, DCU's free score is pretty much the gold standard now: you can get the same FICO '04 score from Equifax (Scorepower or Scorewatch there) or a FICO 8 score from any of the products here at myFICO; however, they're all going to follow the same issue DCU has: you don't have enough data on your report to generate a score yet.

 

You do want to get another credit card or two, I highly recommend BOFA's secured card in this case which you should be able to qualify for easily on a minimum of $300 deposit as a near no-file: with the rewards package tacked on, it's the best starter card out there.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Equifax Complete Advantage vs. Experian Score


lon3volf wrote:

That does make sense in regards to the scoring model used by Equifax vs. Experian. So only way to get my real FICO score is from this site i guess? 

I moved to this country 2 months ago and i currently have on credit card with DCU with 5k CL. DCU does provide FICO Equifax score - however I came to know that it takes few more months before I start seeing it on monthly basis. 

 

The reason i had to get these scores was to identify if i'm in a good position to apply for Chase SP card while i do have my savings and checking premier plus accounts with them set up for dircet deposit. I'm keeping my fingers crossed considering score EQ-689, TU- 709 and EX-721. 

 

Any thoughts?

 


With only 2 months of credit in the US, you won't generate a FICO score.  You have to have at least one account that is at least 6 months old to generate a FICO score.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
New Member
lon3volf
Posts: 5
Registered: ‎06-13-2014
0

Re: Equifax Complete Advantage vs. Experian Score

Great thank you very much for the information. I have friend who was approved for Chase Slate with only 3 months credit history and the credit pull was on Equifax. 

I walked into one of the branches and applied for CSP yesterday and its currently under review. The banker asked me to give him a call by thursday to see where we stand and in case of not going through, he might be able to try and get it pushed for approval. 

 

Since i had signed up for Equifax complete advantage, I did get an alert for the credit pull and per thier scoring model points went down by 8. 

If you are right, then there is more than likely chance that i might get approved. However hoping for the best and will keep posted if it goes through...


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