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Same report - score difference

Regular Contributor

Same report - score difference

Hello myfico.com. I realize I ask lots of questions, but I am trying to master this whole credit process. You guys have a wealth of knowledge and experience that really helps people that don't really know what they are doing. So, with that being said ... I have another question. If the three CRA's are reporting the EXACT same information - how does that affect the scores? Will they be somewhat the same if it the FICO score? Or will there be variations? And if so, what causes the variations?
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Moderator Emeritus

Re: Same report - score difference


CC40 wrote:
Hello myfico.com. I realize I ask lots of questions, but I am trying to master this whole credit process. You guys have a wealth of knowledge and experience that really helps people that don't really know what they are doing. So, with that being said ... I have another question. If the three CRA's are reporting the EXACT same information - how does that affect the scores? Will they be somewhat the same if it the FICO score? Or will there be variations? And if so, what causes the variations?

There will likely be some difference, because even though the information is identical, there are differences in the FICO scoring formulas used at each bureau.  The broad general criteria are the same (i.e. the pie chart distributions), but the weighting of these factors can vary.