No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I recently applied for the Capital One Savor and Bank of America Premium Rewards cards thinking I would be ok since my credit is in the mid 600s.When i was turned down I got a letter stating that my Equifax was too low.So i pulled my credit reports from the Equifax website and found that all of my scores were 100 points or more lower than on Experian.
I looked over the credit reports and the information seems accurate.If the information is the same on both bureaus why the big jump?
Scores from Equifax
Equifax - 527 Transunion - 503 Experian - 510
FICO scores from Experian
Equifax - 647 Transunion - 643 Experian - 634
Capital One do not use FICO 8 scores for approvals. They use FICO 5.
You probably will need to pull your reports from myfico or CCT to get the FICO 5 score.
@Anonymous wrote:
Scores from Equifax
Equifax - 527 Transunion - 503 Experian - 510
FICO scores from Experian
Equifax - 647 Transunion - 643 Experian - 634
It looks like our friend may be subscribing to a credit monitoring tool from EQ and another from EX. The EQ product might not even be supplying FICO scores at all.
The advice to sign up for a single product that gives all scores for all bureaus is the best, given the question our friend is trying to answer. That product would be the myFICO Ultimate, though personally I would cancel it after a week since $40/mo is a ton of money to pay. All our friend really needs on an ongoing basis (i.e. after the Capital One question is answered) is the three FICO 8 scores which can be obtained for $1 maybe once a month or even once a quarter. And there are a lot of free tools that offer frequent free reports.
@Anonymous wrote:I recently applied for the Capital One Savor and Bank of America Premium Rewards cards thinking I would be ok since my credit is in the mid 600s.When i was turned down I got a letter stating that my Equifax was too low.So i pulled my credit reports from the Equifax website and found that all of my scores were 100 points or more lower than on Experian.
I looked over the credit reports and the information seems accurate.If the information is the same on both bureaus why the big jump?
Scores from Equifax
Equifax - 527 Transunion - 503 Experian - 510
FICO scores from Experian
Equifax - 647 Transunion - 643 Experian - 634
Experian provides FICO 8.
Equifax provides their proprietary Equifax score. From their website:
"Equifax® 3-Bureau credit scores are each based on the Equifax Credit Score model. Third parties use many different types of credit scores and will not use the Equifax 3-Bureau credit scores to assess your creditworthiness."
The FICO Scores from Experian are the ones with which you should concern yourself. It is possible Cap One and BOA use a different version of FICO than FICO 8.
The Experian site will provide all 7 versions of your Experian FICO, but only the FICO 8 version for Equifax and Transunion. To get all 28 versions of your FICO score you will need to purchase them from myFICO.
Note: The CCT $1 trial (mentioned by a prior poster) is the exact same thing as what you are getting from Experian (Experian bought them out a couple of months ago).
@kiea wrote:Capital One do not use FICO 8 scores for approvals. They use FICO 5.
You probably will need to pull your reports from myfico or CCT to get the FICO 5 score.
I did not know this. Interesting.