Differing Scores Pulled within 1 Hour?

[allenk23]

Hello all. I realize each bureau uses different models and scores can differ from one day to the next at a given bureau, but please help me understand this... On a single day last week, I signed up for the free trial credit monitoring and free credit scores with the written understanding that I can cancel if not satisfied. Here is what I found:

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TransUnion's service is through TrueCredit. TransUnion claims to use the Vantage score. TrueCredit tells me they use a "true risk" score. Anyway, this service gave me the following scores:

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  • TransUnion score 689
  • Experian score 670
  • Equifax score 677

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Experian's own score obtained directly from Experian was 681.

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Equifax score obtained thru myFICO came in at 658.

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Finally, Credit Karma, who purportedly uses TransUnion, came in identical to TransUnion's own score of 689.

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So aside from the TransUnion score gotten from both TransUnion & Credit Karma identical at 689, why is there such a difference between the Experian scores and the Equifax scores when obtained from 2 different sources?

In other words, TransUnion shows my Equifax score at 677 and myFICO has the Equifax 19 points lower at 658, all within 1 hour of each other. And also, TransUnion shows my Experian at 670, yet Experian themselves say 681, again within 1 hour of each other.

Can anyone shed some light on the above? I called all 3 (TransUnion, Experian, & myFICO) and wrote to Credit Karma, and all seemed to say: a) we have no idea why the scores differ, and b) "our" score is the correct one.

I'm really trying to decipher these scores and figure out which are the accurate ones.

Thanks in advance,

Allen

[JoeBJay20]

Well the issue is that you have one FICO score for EQ, pulled here, and a bunch of non-FICO scores, or "FAKO" scores, pulled from various other sources.  Scores like Vantage and Experian PLUS aren't used by lenders, and aren't worth much of anything.  In addition, they have different scoring algorithms than FICO scores, so there isn't any real correlation between them and FICO scores.  You can get genuine FICO scores for EQ and TU here, but you can't get EX FICO scores anywhere except with a mortgage application. 

[Anonymous]

There are many different scoring models. The TransRisk model is one developed by TransUnion. The Vantage model was developed jointly by all three CRAs. The Plus model was developed by Experian. Fico has developed classic (mortgage) scoring models for each CRA, as well as industry-specific models (for auto loans, bankcards, and other specific loan types).

Each model has different criteria and usually has different scoring ranges. The scoring models use the current data from the credit report for each CRA, but the formulas and weighting used by each model are different.

TU 689 = based on the TransRisk scoring model

EX 670 = TransRisk

EX 681 = Plus or Vantage

EQ 677 = TransRisk

EQ 658 = Fico classic (aka Beacon)

Non-Fico models are generally referred to as "Fako" scores because few, if any, lenders utilize those models ...

[allenk23]

Thanks JoeBJay20 and Revike. I bought a house, naturally approved for a mortgage nearly 3 years ago with a interest rate (30 yr. fixed) of 7.625%. I need to refinance. But want to first assess my credit scores. I realize lenders will pull their own scores -- tri-merge. And automated underwriting is used. Still, I'd like to assess my scores so I'm "armed" when I go shopping. Based on what I provided, what is the best way to determine, as closely as possible, what my "real" scores are? I hope I'm making sense.

[JoeBJay20]

Buying your EQ and TU scores from MyFICO will give you an indication of where you stand.  EX FICO scores are no longer sold to the public, the only place to get them now is from a mortgage lender after you apply.  I would also suggest reading through the Understanding FICO scoring section to see what factors affect your score and steps you can take to improve it.

I think you said you bought your EQ score here, what reasons did it give as factors helping and hurting your score?