Variance scores in each of the 3 bureau's "3-in-1" scores packages?

[titanium_bbx]

I basically just did ALL the "3 bureau report + score" from each bureau and myFico.

Here are the results of each bureau's version of the 3 scores...

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Equifax:::::::::::     Equifax 626   |   Experian 570   |   TransUnion 656

TransUnion::::::: Equifax 732   |   Experian 688   |   TransUnion 756

Experian:::::::::::   Equifax 704   |   Experian 729   |   TransUnion 729

myFico::::::::::       Equifax 703   |   Experian ???   |   TransUnion 736

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{ Really interesting to note that in myFico score watch Eq went from 661>703, and TU went the exact opposite 768>736, I guess due to new accounts and INQ's }

So the "Equifax 3-Bureau Credit Report and Scores" -- WTF?!

Should I be worried?

I was all thinking I would was in the 700 club this week, not so it would seem.

When I applied for a mortgage back in March 2010, the lender said: Equifax 584, Experian 546, TransUnion 619... I am wondering now if the lender side scores can really be that low and should I subtract even 75 pts more... I have done some work on the files since then and was hoping it was truly up in the 700's. 

[Lel]

The Equifax 3-bureau credit report and score product does NOT give you FICO scores.  It calculates something that they call the "Equifax Credit Score" using the information from each credit bureau.  It's a little confusing, but basically they have created their own proprietary scoring formula.  They take the credit reports from Experian, Transunion, and Equifax and calculate a score for each bureau using this formula.

From their FAQ: What is the difference between the Equifax Credit Score™ and the FICO® Score?

Similarly, Experian and Transunion have created their own proprietary credit score formulas, which they also apply to the credit reports for all bureaus.  Since no two formulas are identical, they will likely yield different scores.  Any similarity in score among these non-FICO scores, and as compared to actual FICO scores, is purely coincidental.

Here's the bottom line for you: your Equifax Beacon 5.0 FICO score is 703.  Your Transunion 98 FICO score is 736.  The 3-in-1 scores that you got directly from the credit bureaus are not FICO scores and are effectively not used by creditors when making lending decisions.

You ARE a member of the 700 club!

[titanium_bbx]

Lel, THANK YOU SO MUCH for the congrat and clearing that doubt up. Seems like there is always more to learn about with the "credit game".

Thanks again for that. This forum is such an impressive resource.

Phew ~

[RammaCredit]

I feel the same way. Fico gives me scores that are lower then what the lender is telling me, transunion, equifax. So here is my question and I think it should be yours too. If a creditor pull a TU score then  wouldn't it come from TU? not FICO. how do we know which service or version they are using? Now Equifax in my opinion, sucks. Thay are the hardest  file to clean up its hard to read and reports the same info twice in two differnt sections. Its a shame they really need to revamp their reports. Your TU fico will go up next month it did that to me too a few months back i was at 621 then checked it like 30 days later and I was at 607..now i'm back up again.

How much did you spend to get those reports. What type of file do you have now. Good job on the clean up.

[Lel]

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@RammaCredit wrote:

I feel the same way. Fico gives me scores that are lower then what the lender is telling me, transunion, equifax. So here is my question and I think it should be yours too. If a creditor pull a TU score then  wouldn't it come from TU? not FICO. how do we know which service or version they are using? Now Equifax in my opinion, sucks. Thay are the hardest  file to clean up its hard to read and reports the same info twice in two differnt sections. Its a shame they really need to revamp their reports. Your TU fico will go up next month it did that to me too a few months back i was at 621 then checked it like 30 days later and I was at 607..now i'm back up again.

How much did you spend to get those reports. What type of file do you have now. Good job on the clean up.

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I'm not certain what you are saying.  This site provides FICO scores, and the vast majority of lenders use FICO scores.  Each of the credit bureaus - Equifax, Transunion, and Experian - has created their own unique FICO score formulas that use the information on a consumer's credit report at that bureau to generate a score.

If you pull an Equifax FICO score from this site, you get the same score that a lender would pull directly from Equifax on the same day.  This site uses the information on one's Equifax credit report and uses the same Equifax FICO score formula to generate identical FICO scores.  Many users have reported that if they pull their EQ score on the same day as a lender, the scores are identical.

[This is assuming that the lender hasn't moved on to Beacon 09, but few lenders have done so.]

TU is a bit more complicated.  This site and the transunioncs.com website offer the TU 98 score.  There is a newer version, TU 04, that is also in use.  Many lenders are using TU 04, but there is still a significant number that are using TU 98.  If you pull your TU 98 score on the same day that a lender pulls a TU score, you will get identical scores if the lender is using TU 98.  They will likely be different if the lender is using TU 04.

If you want to find out which version a lender uses, ask.