Large difference between agencies

[Anonymous]

Is it normal to have a large difference in the FICO score of one agency versus the other two. My Trans Union and Equifax scores are 700 while my Experian score is 635. Does that sound possible? Thanks.

[MidnightVoice]

It sounds possible.  Are there major differences in the CRs?

[Anonymous]

I have a related question: Is there any DIRECT RELATIONSHIP between the credit scores of any of these three agencies (Equifax, Experian, TransUnion) ? In other words, can anyone make a statement that EQ = EX = TU ? I'd like to know because I have not yet found any agency that will monitor all 3 simultaneously. I see that ScoreWatch will only monitor one of them. So is it sufficient to just monitor the one, or is it possible there could be a rise in one score and yet a drop in another ? Thank you.

[Anonymous]

mines is like this as well--big difference between Equifax and Experian--only difference in reporting is a judgment not removed from Equifax which is my lowest one and I am working on that now --it no longer reports to them and lastly the inquiries--but wow I have seen big differences like over 50 pts---sometimes thats a bit scary after judgment removal--I will be looking to figure out what else is the problem I wouldnt think that the 10 percent inquiries could be that big of a hinderance --are they?

[Anonymous]

No. The CR's are virtually the same.

[llecs]

The FICO formula is quite complex. If you lay all three FICO-generated reports side-by-side, assuming they are pulled on the same day, you should see differences. Even subtle differences can offset your scores.

Do you have the same accounts in all three reports?

If you look at the credit-at-a-glance page, make sure everything matches: past due, credit history, lates, balances, accounts opened in past yr, inquiries, collections, PRs, etc. If it doesn't, that then could be your answer.

If it does match, then look at lates, if applicable, and make sure the dates match. Look at dates your accounts were opened; a one-month difference could mean a several point difference if recent. Look at account statuses; make sure they all jive. Look too at account type, reporting CL, DOLA, as these could possibly impact score.

Finally, each CRAs don't necessarily update the same day which could impact score.

[Tuscani]

Remember, there are different versions of FICO for each CRA.

[llecs]

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Tuscani wrote:

Remember, there are different versions of FICO for each CRA.

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Tuscani, I saw your post and I had read it in your 101 post as well. I always thought the different scoring formulas or models were directed towards each CRA rather than three different models for MyFico.

However, to support your position, I found this under Contact Us in MyFico:

In general, when people talk about "your score," they're talking about your FICO score.  But in fact, there are three different FICO scores developed by Fair Isaac - one for each of the three credit bureaus - Experian, TransUnion and Equifax. Fair Isaac makes the scores as consistent as possible between the three credit reporting agencies, but even if your information was exactly identical across all three, your scores might still slightly differ because the models for the three agencies were developed separately. However, in this case, all three scores would be within a few points of each other.

While there will almost always be some minor differences in your scores across the three credit bureaus because of the slightly different models, significant score differences can result from the following situations:

• All credit scores are not “FICO” scores developed by Fair Isaac Corporation. Make sure the scores you are comparing are actual FICO scores. Each of the credit agencies has several versions of credit bureau scores, which can cause confusion when trying to understand why one score is higher or lower than the other.

• All of your credit information may not be reported to all three credit reporting agencies. The information on your credit report is supplied by lenders, collection agencies and court records. Do not assume that each credit reporting agency has the same information pertaining to your credit history.
  

• You may have applied for credit under different names (for example, Robert Jones versus Bob Jones) or a maiden name, which may cause fragmented or incomplete files at the credit reporting agencies.   While, in most cases, these agencies combine all files accurately under the same person, there are many instances where incomplete files or inaccurate data (social security numbers, addresses, etc.) cause one person’s information to appear on someone else’s credit report.
  
• Lenders report credit information to the credit reporting agencies at different times, often resulting in one agency having more up-to-date information than another.

• The agencies may record the same information in different ways. 

For more information on FICO® scoring, click here to download the free booklet, Understanding Your FICO Score.

[Dawn]

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Tuscani wrote:

Remember, there are different versions of FICO for each CRA.

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But ... but ... WHY is it necessary that they have different versions for each agency?  Why don't all the agencies have the same model?

[Tuscani]

I should have said there is a unique flavor for each CRA..Meaning Fair Isaac has a separate scoring algorithm for EQ, EX and TU ( not a the other way around). Sorry to confuse.