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Equifax score vs. Fico score

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kvstrever
New Member

Equifax score vs. Fico score

Please help, I have been rebuilding my credit over the past few years and I monitor my Equifax score since it seems to be the lowest always.  I pulled my score on Equifax.com today and it came up as a 687, so I decided to check my FICO on their site and it pulled at a 699.  My question is are the FICO scores given on the Equifax.com site 100 percent accurate or are they still off, as so many of the FAKO sites out there?  I am also trying to purchase a car and my CU uses Experian to qualify for a loan so I decided to donate $7.95 to Experian to pull my Vantage Score which is 724, my second question is the Experian website accurate or is it just a FAKO too?

 

Please help!

Message 1 of 7
6 REPLIES 6
llecs
Moderator Emeritus

Re: Equifax score vs. Fico score

Any non-FICO score is called a FAKO. Equifax.com offers two scores: an EQ FICO and a FAKO called "Equifax Credit Score". The scores they push and the scores offered with their monitoring products are all FAKOs. If it doesn't say FICO next to the score then it isn't.

 

VantageScore is a FAKO. A tiny minority of lenders use it and your lender is apt to use a FICO. Some lenders also use an auto-enhanced FICO too.

Message 2 of 7
sarkell
Frequent Contributor

Re: Equifax score vs. Fico score

I'm pretty sure that will be changing vantage score is going to be used by 7/10 lenders soon.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


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Message 3 of 7
llecs
Moderator Emeritus

Re: Equifax score vs. Fico score


@sarkell wrote:
I'm pretty sure that will be changing vantage score is going to be used by 7/10 lenders soon.

I know that 70% figure came from a presser by VantageScore. I'd call that into question. I've been on these forums for a while and have yet to see any verified post in Mortgage Loans saying their lender pulled Vantage. Or check in Auto Loans or CCs and you'll be hard pressed to find one that mentions Vantage. In fact, I can only recall one in CCs that had pull Vantage, but not any more (Kohls IIRC). And I'm certainly not saying lenders don't pull Vantage. I recall a webinar with FICO and lenders and one lender said they used Vantage. If there's one out there, there might be more.

Message 4 of 7
sarkell
Frequent Contributor

Re: Equifax score vs. Fico score

No what I've heard is they'll be switching because it will score utility bills and paid non co collections medical libraries etc with not be factored if paid so its a more accurate however I think it's going to be a few years before this really happens.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


Take the myFICO Fitness Challenge
Message 5 of 7
blkchef68
New Visitor

Re: Equifax score vs. Fico score

The scores will always be different from on CRA to the next. This based on the score ranges of each company. Not many creditors look at all agency's as a whole. What ever region you live in will most likely be the score that most of your creditors will use. Expect a 5-10 point difference between all CRA's. TransUnion covering the east coast, Equifax covering the west coast and some midwest regions, and Experian covering southern markets. I hope this helps You'll have a lower score with TransUnion because the have a higher top score than the other two. FICO is your best bet for accuracy of your overall score.

Message 6 of 7
kvstrever
New Member

Re: Equifax score vs. Fico score

Thank you everybody you have been most helpful, I purchased the car and got an APR of 3.99% so I am pretty happy! 

Message 7 of 7
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