Frequent Contributor
Posts: 305
Registered: ‎04-26-2012
Re: Lenders see different scores than consumers do

beckolson wrote:

Ok, I pulled my credit score today and it was through experian. It was a 626, I have been waiting to get approved for a loan so I figured I would inquire to see if I can get financing. The lender told me my score was a 502!!! 124 points different that is crazy. I asked why it was so different then when I pulled it a couple hours earlier of coarse he said the same thing about lenders seeing a different score then consumers. He said he had never seen this big of a difference before. Does anyone know why my score was 124 points different with the lender???? I understand I have work to do on my credit. I will be coming into some money in a few day and am planning on paying off the negative things on my credit. Also my paying on some of my credit cards to get the balance only around 30%.  I am hoping by doing this that in 6 months my score will be high enough to apply for a mortgage. I just don't know how I will be able to tell since the lender is seeing 124 points differet then what I saw.

In addition to the previous post (Experian's scores are FAKO's), auto dealers pull what is called an auto enhanced score.  It more strongly calculates previous auto loans in its formula.  If you have any negative information from auto loans on your credit, you will get dinged harder for them on an auto enhanced score than on the FICO's offered here.