jaybird201 wrote:
Here's what happens, and I'm not 100% of this, so someone correct me if I'm wrong. Equifax, Experian and TransUnion are credit bureaus and they put together a bunch of information on consumers that are reported to them by financial institutions, cell phone providers, etc. Fair Isaac is a company that developed the FICO scoring system. Essentially when you pull your FICO score, Fair Isaac scans your credit profile and based on an algorithm, they use all of that information to come up with a score, your FICO score.
...hmm...I just got to thinking and maybe Equifax uses a slightly different formula than the formula used by myFICO when scanning your credit profile. Which may result in a different score.
Now I'm confused. Quick, someone more intelligent than I come rescue me from saying stuff that's 100% wrong.
Hi jaybird201....I need to correct you one one thing.
While Fair Isaac developed the scoring formula, the score calculation always takes place at the credit bureau. Fair Isaac never has any access to the data in your credit report.
And since all Equifax FICO scores come from Equifax -- whether directly or via myFICO -- the score should be the same whether you get it here or there, as long as the information in your report is the same.
