FICO/Credit Score on myFICO vs Transunion

[Anonymous]

Hello, I have an account with myFICO AND with TRANSUNION. myFICO says today I have a Transunion Credit score of 718, while today Transunion says I have a Transunion Credit Score of 731, Why the difference? Why would Transunion say my score is 731 with them, but myFICO says my transunion credit score is 718? Thanks...

[Anonymous]

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@Anonymous wrote:

Hello, I have an account with myFICO AND with TRANSUNION. myFICO says today I have a Transunion Credit score of 718, while today Transunion says I have a Transunion Credit Score of 731, Why the difference? Why would Transunion say my score is 731 with them, but myFICO says my transunion credit score is 718? Thanks...

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Transunion does not provide a Fico 8 Score to you on their site. They are providing a Vantage Score which is completely different and while it can be useful it's not used by many lenders at this point.

[Anonymous]

thank you Irish80.

So does myFICO provide a more accurate indication?

And is the truth that myFICO is a better indication of ones credit worthiness than transunion?

I honestly appreciate your help in understanding these things.

Bottom line, 718 or 731, I trust doesn't make a whole lot of difference where the rubber meets the road, so to speak. For example I walked into a BMW dealer and drove off in a new 2015 car with no down, no stips and a 1.2 financing package.

I'm just trying to understand the finance industry.....which for me (not the brightest bulb in the box) is proving to be, no small task....lol.

Thanks again....

Larry

[Anonymous]

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@Anonymous wrote:

thank you Irish80.

So does myFICO provide a more accurate indication?

And is the truth that myFICO is a better indication of ones credit worthiness than transunion?

I honestly appreciate your help in understanding these things.

Bottom line, 718 or 731, I trust doesn't make a whole lot of difference where the rubber meets the road, so to speak. For example I walked into a BMW dealer and drove off in a new 2015 car with no down, no stips and a 1.2 financing package.

I'm just trying to understand the finance industry.....which for me (not the brightest bulb in the box) is proving to be, no small task....lol.

Thanks again....

Larry

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You're very welcome.  It can be very confusing knowing where to look for information to judge how others view your credit worthiness. In the link I've attached is a post about all the different versions of Fico scores out there.  As you'll see there are many and different creditors use different ones from bank card versions, auto versions to mortgage versions, etc.  Even other creditors use their own internal scoring systems.  While the Fico version of your credit score is what's used by most creditors in some form, what's more important than your actual score is knowing what's on each if your 3 credit reports; Transunion, Equifax and Experian.  Whether you get those reports from here or elsewhere go over them carefully and make sure there are no mistakes that are hurting your credit.  If you have 'baddies' on any reports such as late payments, collections or charge offs look into what you can do yourself to repair those items.  There is a myriad amount of information here and elsewhere about the credit business and it can be daunting.  We have a wide variety of different forums on amyFico and you'll find most people to be very helpful and knowledgable. Don't hesitate to ask questions.  Once you get a handle of what goes into your credit report and what you can do to improve your scores you'll be far ahead of the vast majority of American consumers.  I hope this helps and let me know if you have any questions.

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-versions-and-variations/td-p/1197617

[Anonymous]

Thank you again Irish80!

I appreciate your knowledge and willingness to help me in the increasing of mine. I saved the link and will visit it soon.

One more question (famous last words) I am wondering if it is advisable to keep an open account with all 3 credit  bureau's ? I am paying about 50.00 a month for the 3 combined. Or, if myFICO would be sufficient to keep from worrying about some rascals messing with my identity and or my credit score.

Larry

[Anonymous]

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@Anonymous wrote:

Thank you again Irish80!

I appreciate your knowledge and willingness to help me in the increasing of mine. I saved the link and will visit it soon.

One more question (famous last words) I am wondering if it is advisable to keep an open account with all 3 credit  bureau's ? I am paying about 50.00 a month for the 3 combined. Or, if myFICO would be sufficient to keep from worrying about some rascals messing with my identity and or my credit score.

Larry

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You don't need to have accounts with any of the individual bureaus. You can get all the info you need here.  The $29.95 3 bureau monitoring is well worth the cost

[Anonymous]

Thank you. That is a Christmas present of about $600.00 a year! (or $ 6,000.00 in ten years!)

I am now going to tell all of my friends about myFICO (both of them). smile.

Just kidding, but thanks again IRISH80, Now that you've answered my sincere questions, I will try to think up some questions to stump you! (just kidding again, as laughter is good for the soul).

Take care (and happy holidays to you and your loved ones).

Larry

[Anonymous]

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@Anonymous wrote:

Thank you. That is a Christmas present of about $600.00 a year! (or $ 6,000.00 in ten years!)

I am now going to tell all of my friends about myFICO (both of them). smile.

Just kidding, but thanks again IRISH80, Now that you've answered my sincere questions, I will try to think up some questions to stump you! (just kidding again, as laughter is good for the soul).

Take care (and happy holidays to you and your loved ones).

Larry

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You're welcome and same to you.  

[Anonymous]

Three words. Credit. Check. Total.

Its through Experian, but they will provide all three reports AND true FICO 8 scores. You can pull your EX report daily, and TU/EQ reports once a month. They have a seven day trial for a dollar - but when you call to cancel, they will offer you the service for 50% off, $14.95 per month. Best deal hands down for FICO scores.

[Anonymous]

Thans NormanFH, the feature I like most about myFICO is they alert me if there were any changes on any of the 3 credit bureau's. Like inquiries. I appreciate the tip though.