Understanding FICO® Scoring

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myQs
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myQs
Posts: 1
Registered: ‎10-11-2012

Why is my credit score variing 20% between FI and other institutions?

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‎10-11-2012 04:01 PM

My last credi sco reports from other institutions and FICA showed a variance of 20%. Why is it that big a difference?

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llecs
Posts: 31,946
Registered: ‎08-04-2007

Re: Why is my credit score variing 20% between FI and other institutions?

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‎10-11-2012 04:17 PM

Where did you get your scores from?

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my-own-fico
Posts: 964
Registered: ‎01-05-2010

Re: Why is my credit score variing 20% between FI and other institutions?

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‎10-11-2012 08:51 PM

That would depend on what you mean by variance. :smileysurprised: :smileymad: :smileyhappy:

 

As llecs alluded to, there may be a 20% difference in score ranges too.

 


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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.

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