Difference between Myfico, Equifax, Transunion and Experian

[stpn2me]

Hello everyone,

I just got my scores today from everywhere and I would like to share the spread and differences I found:

On MYFICO: EQ 656 TU 631 EX 648

On Equifax:   EQ 646 TU 637 EX 656

On TransU:   EQ 678 TU 681 EX 685 Note: TransUnion was an obvious FAKO. I wouldnt recommend getting this one..

On Experian: EQ 656 TU 645 EX 656

Not too bad of swing differences except for TransUnion. They seem to be pretty consistant with each other. I'm going to be going for a mortagage, so then I'll know what the actual score is....

[CH-7-Mission-Accomplished]

Any score that does not specifically say "FICO" and have their trademark symbol is a FAKO.   You need to pull the reports from myFICO and look at the section "scores used by lenders."  I believe it shows EQ and EX (but no TU unless they have changed that).  Those are the scores to focus on.

The regular scores that are tracked for the monthly fee on myFICO are FICO 08 scores and are not used by mortgage lenders.

[jamie123]

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@stpn2me wrote:

Hello everyone,

I just got my scores today from everywhere and I would like to share the spread and differences I found:

On MYFICO: EQ 656 TU 631 EX 648

On Equifax:   EQ 646 TU 637 EX 656

On TransU:   EQ 678 TU 681 EX 685 Note: TransUnion was an obvious FAKO. I wouldnt recommend getting this one..

On Experian: EQ 656 TU 645 EX 656

Not too bad of swing differences except for TransUnion. They seem to be pretty consistant with each other. I'm going to be going for a mortagage, so then I'll know what the actual score is....

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I know that you aren't going to want to hear this but...

You need to pull the 3 Bureau scores and report from MyFICO. It costs $59.99 but gives you 19 different score models which include the mortgage scores. Mortgage scores can vary quite a bit from the FICO 08 scores so at least you will know your scores up front before you go for a lender pull. Once the lender does the pull you will have another HP on each report that will affect your scores for the next year.

[stpn2me]

Yea,

The first one I listed is the MYFICO for $59.00. I sort of trust those scores as well. It also had scores for mortagage and credit cards. The mortagage ones were slightly lower.

The FICO score 4 TransUnion was 631

The Equifax Score 5 is 601

The Experian  score 2 is 575

These are what shows under mortgage. My lender says I need a 550 for a VA loan now, he said the standards have changed and he can get me a mortagage with a 550 score. My average of these morgage scores is 602. I may need to wait for a mortagage...

[Hdcut18]

I got declined for a auto loan even tho I purchased my score on myfico

[Revelate]

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@stpn2me wrote:

Yea,

The first one I listed is the MYFICO for $59.00. I sort of trust those scores as well. It also had scores for mortagage and credit cards. The mortagage ones were slightly lower.

The FICO score 4 TransUnion was 631

The Equifax Score 5 is 601

The Experian  score 2 is 575

These are what shows under mortgage. My lender says I need a 550 for a VA loan now, he said the standards have changed and he can get me a mortagage with a 550 score. My average of these morgage scores is 602. I may need to wait for a mortagage...

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Well if you're going VA if you just want the mortgage you don't have to wait; it's not an average, it's the mid score which is your Equifax Beacon 5.0 = 601.  Since 601 > 550 you can qualify.

Not sure on rates though when it comes to VA, I didn't look beyond conventional and a little bit into FHA since I'm not qualified for anything else.