Why the major score differences? Jesus what a drop!

[Anonymous]

I was checking myFICO and all looks normal and score is climbing. I just joined Equifax and fell out of my chair by shock.

Equifax Report

617  Equifax. -  TransUnion 625 -  Experian- 623 

myFICO Report 

693 eQUIFAX - TransUnion 699 - Experian 704

Cany anyone explain to me why the major drop in points with equifax's report vs myFICO? Freaks me out to be honest.

[Anonymous]

Because Equifax subscription uses Equifax's own internal scoring model, not FICO.

[Anonymous]

If that is so.. then which score is accurate? This is where I'm confused. I also just joined TransUnion and my score there is 673. Is TransUnion.com accurate?

[Anonymous]

They are all accurate to their own scoring models, how useful/meaningful they are is the question. FICO scoring model is useful/meaningful because it's used by most financial institutions to make lending decisions, other scoring models are barely used if any. Transunion monitoring service provides VantageScore 3.0 scoring model just like Credit Karma (free), as useless as Equifax scoring model.

It's more expensive to provide FICO scores to customers, that's why most free monitoring services don't use them (CK, Nerdwallet, Wallethub, CreditWise...etc.), this also include some paid services like TU and EQ as you just found out. Pay no attention to scores that are not FICO scores

[Anonymous]

Thank God! I can now sleep tonight. I was about to freak out. I love myFICO it's more simple to use. I only wanted to get the other two accounts to see if certain credit cards have updated or not. I'll cancel both accounts in a few weeks. I paid 19.99 for 1 month on both so why not for a few weeks.

Thank you for the input too!

[Anonymous]

No problem. Keep in mind that there are many different versions of FICO that serves different lenders and different types of lending, since you have myFICO subscription, you can check out other versions. FICO 8 is the most used and talked about, it's the score Experian gave you and what's on your myFICO front page. Some banks use other versions like FICO 9 (PenFed, NavyFCU...etc.). There are also FICO Auto scores and Mortgage scores...etc..