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Reporting Agencies Question

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Valued Member

Reporting Agencies Question

Hello I'm currently rebuilding my credit and according to the apps in the 2 cards I have Capital One (creditwise) & Discover (Fico Credit Scorecard) I've gone from low 500's to low 700s since I started a few months ago, but it says they're both reporting to Transunion so does that mean my score has not gone up with Experian or Equifax?



Starting Score: 550
Current Score:730
Goal Score: 800


Take the myFICO Fitness Challenge
Message 1 of 6
5 REPLIES 5
Established Contributor

Re: Reporting Agencies Question

Those are just the scores the cards provide as part of their service. The creditwise is a Vantage 3.0 score and no lender us it when making their decisions. I would ignore that score. The other one is a Fico score and what your score is for TU.

 

You will want to pull all three your Fico scores. You can get a trial at credichecktotal.com for a buck and see all three of your Fico 8 scores. If you cancel before 7 days it won't cost you anything else, but if you are rebuilding then it may make sense to keep a subscription so you can monitor your progress.

 

I'm sure they are reporting to all three you just haven't seen those reports.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 07/17/19:


Goal Score: 750+
Message 2 of 6
Valued Contributor

Re: Reporting Agencies Question

No, it does not mean your scores haven't improved with EX & EQ as well.   It's just that TU is the bureau Disco and Cap One chooses to reference for providing free scores to consumers.    Also -- just to be clear, Disco is providing your FICO 8; Cap One is providing your Vantage 3 -- these are two different scoring models.  FICO is what is used by the majority of lenders to make credit decisions; Vantage is not currently used by lenders. 

 

You can get all three scores with a free / 30-day trial through Experian.com  to see where you stand with the other 2 bureaus.   This membership plan, after the 30 days, will be $19.99/month - so you can cancel before the trial ends if you do not want to pay; with the service you get your Experian FICO 8 score updated daily and all three scores updated on a quarterly basis.   The ability to see an updated score daily is great when your rebuilding if a lot of changes are  constantly happening -- i found it to be extremely valuable during my rebuild as it also helps you better understand how your actions, and other events like account aging, affect your score.

 

You can also upgrade to other membership tiers too if you want for more frequent 3-bureau updates.   Or, you can stick with their free service which provides monthly EX score updates and reports. 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 07/01/2019: EX 741 ✦ EQ 727 ✦ TU 733
Current FICO 9s | 06/01/2019: EX 753 ✦ EQ 751 ✦ TU 732
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 780s


My AAOA: 2.7 years not incl. AU / 2.10 years incl. AU
My AoOA: 6.5 years not incl. AU / 8.5 years incl. AU
Report Status: Clean

Tending my Garden til 2/2021


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 3 of 6
Highlighted
Senior Contributor

Re: Reporting Agencies Question

Wel I'm sure they have, just those two credit card companies don't report on any bureau other than TU. That said, Capital One's creditwise isn't a true FICO 8 score (the one lenders use over 90% of the time), so take what that one says with a grain of salt. Discover's is your true TU score though. Smiley Happy

Gardening since 03/09/15

Message 4 of 6
Valued Member

Re: Reporting Agencies Question

Thanks so much for the answers, so it looks like Capital One & Discover both report to all 3 agencies but for some reason only mention Transunion (great to know), but that I may want to look into more detailed credit reports than what's on offer for free via the card apps themselves.



Starting Score: 550
Current Score:730
Goal Score: 800


Take the myFICO Fitness Challenge
Message 5 of 6
Valued Contributor

Re: Reporting Agencies Question


@Justasheep wrote:

Thanks so much for the answers, so it looks like Capital One & Discover both report to all 3 agencies but for some reason only mention Transunion (great to know), but that I may want to look into more detailed credit reports than what's on offer for free via the card apps themselves.


Yes.  All lenders that provide a free score (be it FICO or Vantage) only do so from one of the three bureaus - even though they report data to all three.    For example: Amex only offers an EX FICO 8;  Citi only offers EQ Bankcard 8; NFCU and PenFed Credit Unions offer EQ FICO 9, etc.   

 

You should find out where you stand with FICOs for all three bureaus and review all three reports for accuracy.   So long as the info reported to all three bureaus match, the three scores, while different, are generally within 20 points of one another.   

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 07/01/2019: EX 741 ✦ EQ 727 ✦ TU 733
Current FICO 9s | 06/01/2019: EX 753 ✦ EQ 751 ✦ TU 732
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 780s


My AAOA: 2.7 years not incl. AU / 2.10 years incl. AU
My AoOA: 6.5 years not incl. AU / 8.5 years incl. AU
Report Status: Clean

Tending my Garden til 2/2021


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 6 of 6