02-06-2013 01:05 PM
I had done a trial of some credit monitoring at experian.com and when I went to cancel they offered me a free report with scores from all 3 agencies to stay. I got this report, and that same day received a notice from ScoreWatch at myFICO that my score had gone up - and was 22 points higher than the value Experian claimed my Equifiax credit score is.
I am so confused - which is the accurate FICO score for Equifax and why are the numbers so different on the same day? How does one get accurate FICO scores for all 3 bureaus? I'm only seeing how to get Equifax here.
I've got a ways to go to get out of my debt crisis, but knowing what my score really is would go a long way to helping me with that project.
Any help that anyone could provide would be GREATLY appreciated!!!!!!!!!
02-06-2013 01:21 PM
I had done a trial of some credit monitoring at experian.com..
Take a close look at the score you got from Experian. Does it say that it is a FICO score? I'm guessing that if you look closely you'll find that it's a PLUS score.
It's kind of like asking two guys at a bar to rank how "hot" someone is. One might say she's a 9, one might say 8. The scores can be close or even the same, but no guarantee that they always will. Each has a slightly different weight to the criteria that results in a differnet total.
02-06-2013 01:25 PM
First off, any EQ score that you purchased from somewhere other than here is more than likely a FAKO (non FICO) score.
There are at least 49 KNOWN flavors of FICO scores.
Where you pulled which one from makes a big difference. The EQ score sold here is a "real" FICO score that I understand is used by a majority of MORTGAGE lenders.
(If you're looking for a credit card, they'll very likely see a DIFFERENT "real" EQ FICO score...)
It's awfully messy...
There is no really reliable EX score available to you, the consumer.
The EQ sold here is reliable and valid for mortgage applications.
The TU sold here is a valid FICO score, but a bit outdated.
The free TU score available through wallymart is a more modern version, but still not the most popular.
02-07-2013 09:10 AM
Thanks everyone for the fast responses and explanations. I'm realizing that even the "Equifax" credit report I'd gotten from Experian don't provide needed information in comparison to my Equifax credit report (like DOLA - see, I'm learning), distinguishing between which credit inquiries are negative and which are the ones only I can see, etc. FAKO is right. Glad that my FICO is higher than my FAKO even though it's still crappy...working on it...
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO