Credit Score Confusion

Gibran · ‎01-06-2011

I'm signed up with Myfico score watch, I'm also signed up with EQ (just for the unlimited CR's), and I'm also signed up with EX (same reason), here's where my confusion begins, my score on one site has my EQ score as 634 while on another it's 654, my EX score is showing 617 on the EQ site, where on the EX site it's 703, doesn't the CRA's pull from the other CRA data? Hopefully I'm making sense, that's why I included the screen shots, also notice the date on the myfico score is only 2 days before the scores on my EQ report, and I know for a fact that nothing changed that would have cause a 20 point drop. Bsically what I'm trying to figure out is which EQ score should I rely on? I already know EX is FAKO so I'm not as concerned since those scores aren't my actual FICO score although a near 100 point difference between the 2 is alittle baffling. About the only one that is on par is my TU score. Any input would be great..

Lel · ‎01-06-2011

You might notice that in your second screen shot (from the Equifax website), the word "FICO" doesn't appear anywhere. That is because the score that you get through Equifax's 3-in-1 credit monitoring service is NOT a FICO score - it's their own proprietary credit scoring formula. I think they call it the "Equifax Credit Score". They use this same formula to calculate credit scores from the data received from all 3 credit bureaus. It is possible to get an Equifax FICO score from the Equifax website, but the FICO score is not offered through their 3-in-1 product.

The score that you get from Experian uses their own proprietary score formula (probably their PLUS score). This is a different formula from the Equifax Credit Score formula, so even though the same data set is used, scores can and will be different. You shouldn't try to compare different non-FICO scores (or even FICO to non-FICO scores) because the difference is meaningless. The fact that the Equifax formula generated a score of 617 and the Experian score generated a 703 using identical data is purely a reflection of the differences in the formulae.

Gibran · ‎01-06-2011

That makes sense now. So basically I should just always go by the score that I get here on MyFico? I normally rely on my score here, but when I saw the difference on the actual EQ site, it threw me off. I already knew the EX scores are fakos so I wasn't really concerned about those. I'll just keep using the EQ site for getting updated CR's.

MarineVietVet · ‎01-06-2011

@Gibran wrote:
That makes sense now. So basically I should just always go by the score that I get here on MyFico? I normally rely on my score here, but when I saw the difference on the actual EQ site, it threw me off. I already knew the EX scores are fakos so I wasn't really concerned about those. I'll just keep using the EQ site for getting updated CR's.

To add a little to what Lel said no one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU)in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO. I suggest you do an internet search for "myfico discount codes" to save a little money.

You can also purchase your Transunion score at www.transunioncs.com. At www.equifax.com EQ will still sell you an EQ FICO score but you need to look for their "Score Watch" product which is a monthly charge.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".