TransUnion Experian credit score differs from the Experian website score

[Anonymous]

Hi, Im in the process of getting educated on obtaining a refi so I pulled down my credit score from experian to get an idea. I was pleasantly surprised to find Experian Plus 774 score. Then I read that mortgage lenders pull the credit score from all 3 credit bureaus and they pick the middle score (if this incorrect, please let me know). I then ordered a service from TransUnion that would show my 3 credit scores. They are as follows:

TransUnion  670

Experian     682

Equifax       708

Like I mentioned earlier in the post, the Experian score from the Experian website is 774 but the Experian score from the TransUnion website is 682. Almost 100 points lower! Also, I ordered a Myfico account and I found out that my Equifax Fico score is 739. 31 points better than the Equifax score from TransUnion. Can someone kindly tell me why the discrepancy between those numbers? I've taken care of my credit judiciously and now I want to get the lowest possible rate for a refi. I don't want to get taken by a mortgage lender so that's why I'm asking. Thank you.

Message Edited by Nuno on 06-19-2009 07:04 AM

Message Edited by Nuno on 06-19-2009 07:05 AM

[llecs]

Welcome to the forums!

Out of all the numbers you have posted, only one is a FICO score. All of the other scores are non-FICO scores, we call FAKOs.

The only place to get your TU FICO and EQ FICO scores together is via myFICO.com. You can also get your EQ FICO from Equifax.com (EQ and FICO teamed up). And you can also get your TU FICO from transunioncs.com (note the -cs). Unfortunately, as of this past February, it is impossible to pull your EX FICO score from anywhere without the help of your mortgage lender. EX no longer allows consumers to pull their own FICO score.

Sounds like you pulled your EX FAKO score from a site like freecreditreport.com. They don't sell FICO scores, but their own score to try to compete with FICO and that score is called a PLUS score, as you mentioned. PLUS scores are very inaccurate and lenders don't even use them. IMO, ignore these scores and the advice that accompanies it.

The scores from Transunion are a different set of FAKO scores called a TransRisk score. Sites like TrueCredit, offered by TU, provide these scores. Again, very unreliable. In fact, if you look in the greyed-out fine print on the score page you'll find an admission that they are not FICO scores.

Finally, you came to myFICO and purchased a true EQ FICO score. At least your FICO was better looking. I bet if you pulled your EQ PLUS score through that EX product you purchased, it too would also be lower than your 739 score. Be sure to pull your TU FICO score too. But google "myFICO discount code" first for some extra savings.

Oh, and yes, lenders will look at the lower of the 2 mid-scores, if apping jointly, or you mid score if applying as a single.

[Anonymous]

First I would like to be the first to welcome you to the forum.  Second, what you have discovered is what people around here refer to as "FAKOs."  Each credit bureau has its own scoring model that weighs various criterias different such as credit history, average age of accounts, etc.  This model was developed by each credit bureau to compete with the Fair Isaac model that is widely used by lenders.  The most important thing you should pay attention to is your FICO scores.  These are the scores used by almost all lenders.  You can obtained your FICO scores from several websites.  However, you can get your TU and Equifax FICO score here at myFICO.  You can obtain your Equifax FICO score directly from Equifax and you have to go to www.transunioncs.com to get your TU FICO.  Consumers are no longer permitted to obtain their Experian FICO except in certain circumstances (i.e., apply for a mortgage or be a member of a exclusive credit union)

With that said, you are correct that "most" mortgage lenders pull all 3 scores and take the middle score.  Thus it is important for you to know the contents of your credit report.  However at this moment you are privy to 2 of your 3 FICO scores.  As mentioned above, Experian no longer allows consumer access to their FICO scores.  If you want to know more about the FICO vs. FAKO distincition, you should definitely do a search on this forum.  I hope this helps.  Good luck on your home shopping!

[Anonymous]

wow, thanks guys. I will definitely heed your advice. It's great to know that there ppl like you guys out there to help out the uninformed masses. ty