PLEASE HELP ME UNDERSTAND

Anonymous · ‎12-18-2007

What is the difference between Experian, Equifax and Transunion, I orderd all three scores from each company and all of them are different.

I am fraustrated.

I thought there was only 1 main FICO score to be concerned about.

can anybody help me understand this?

It would be greatly appreciated

Thanks in advance.

Kari

MidnightVoice · ‎12-18-2007

There are three Credit Reporting Agencies, and each one has a slightly different scoring model. Also, some lenders do not report to all three, so there can be differences in reports as well. This leads to differences in scores.

Different lenders also use different CRAs when deciding on a loan - Chase tends to EQ, Amex to EX for example.

Mortgage and auto dealers usually pull all 3 and use the middle score

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎12-18-2007

Welcome,

EX, TU, and EQ are three different, competing companies.

Fair Isaac, which grinds out the FICO scores, is yet another company.

Read the FICO Scoring 101 thread -- you'll find lots of useful info:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=29793

Good luck!

Message Edited by llecs on 11-26-2008 02:51 PM