Experian Fico score 91 points less than other 2 scores????

[alexandriaz]

OK I have a big problem.... Im planing on buying a new truck, wanted to do this in December, have been working on my credit since February, use Truecredit to monitor reports, my fako scores are:

Transunion: 639,

Equifax: 619

Experian: 622, went down since August when it was 636

Ok so I noticed that on this forum that a lot of the fico scores turn out 20 points or higher than the fako scores, and I thought oh goodie, if my fako is 639 then my fico should be around 660, right? wrong!! I decided to pull all three fico scores and I about fell out of my chair.

Fico scores;

Transunion: 640

Equifax: 609

Experian: 549, , what gives with this 91 points difference? the only difference on my reports is that on Transunion i have four Southwest Student service loans that were sold to Sallie Mae 2 yrs ago, TU is the only report its still being reported on, and thats it, and theres even lates listed for it from back in 2004, but Im thinking its helping my credit history, it was opened back in 1996, and then the next longest account opened would be 2001, I was going to dispute them and have them removed but now that I think about it maybe its not such a good idea, so i shouldnt request them to be removed should I? Account history would stay at 1996, making it 11 yrs.

Now the big kicker is: this whole time Ive been sort of ignoring Experian and Equifax because my credit union whom im getting the loan thru used TU, so Ive been working on getting that score up, its up enough to qualify for a loan with 7.5% , then come to find out my credit union no longer pulls from TU but none other than......Experian!!! of all the CB, they use the one that I have the worst score with and from reading on this forum they are the hardest to get anything removed from your CR unless they are sued!! Im sooo upset.

But does anyone know why I would have such a huge points difference from the other two scores? I was so thinking my fico scores would be higher than my fakos, everyone elses seem to be except for a few people on this forum.... Im sad.

In August my Experian fico score was 620 so I dont know why it dropped so much, only change on reports are the 4 new credit cards I opened, one hasnt been used at all and they were all opened in August, How long do you think it will take before my score goes back up from having these new accounts?? Its one of the reasons why its lower, says they are too new to count! I regretted once I did it but I was soooo excited just to see the word "approved" I went a little over board. I really was looking forward to my new Nissan Xterra after Christmas!! any advise

[jasen]

I don't think anyone truly understands this phenomena, but 3 identical reports will yield 3 different scores. It's normal, don't worry about it. They obviously use different formulas for determining their scores.

What to remember is, a) the auto dealership may not even pull Experian, they use an auto loan oriented score, not a true FICO, so the scores will be different, and c) when they pull multiple scores they generally go with the middle one or ignore one that is way out of line with the other two.

You shouldn't be turned down with those scores, but you'll probably have to fight to get a good rate on the loan.

Remember, credit is a long term investment. Opening accounts may hurt the score temporarily, but the long term benefits of a positive payment history will make it all worth it.

[merkurfan]

You think 91 points is bad?? EX fico 485, todays EQ scorewatch alert 704 fico..

Nothing on my EX has changed and I can't pull a myfico from my frozen EX report. But I susepect a 200 point spread anyways.

[thechoosenone]

doesn't this prove that the worst cra is experian???

[jasen]

My experience supports this theory. Both my wife's and my own scores are always lowest on EX. And all my reports are virtually identical.

[Amerikaner83]

EX is hereby certified to be the DEVIL!

OH Merk - 704!!! Congrats buddy!!!!

[merkurfan]

Thanks! didn't last though. .todays alert, 695..

[Amerikaner83]

D'oh!

[alexandriaz]

I don't think anyone truly understands this phenomena, but 3 identical reports will yield 3 different scores. It's normal, don't worry about it. They obviously use different formulas for determining their scores.

What to remember is, a) the auto dealership may not even pull Experian, they use an auto loan oriented score, not a true FICO, so the scores will be different, and c) when they pull multiple scores they generally go with the middle one or ignore one that is way out of line with the other two.

You shouldn't be turned down with those scores, but you'll probably have to fight to get a good rate on the loan.

Remember, credit is a long term investment. Opening accounts may hurt the score temporarily, but the long term benefits of a positive payment history will make it all worth it.

The thing is I was planning on using my credit union and in the past they use to pull Transunions credit report and now I find out they use Experian and with my credit union I have to have a score of 560 to even a percentage rate of 14! so Im 20 points behind. I could try and use another bank but I have charge off on my credit report from a car loan, Ive posted about it before on here, long story but my payments were never late, never even know they had charged it off till I pulled my credit report. my credit union can see my payment history. that charge off dropped my score 100 points. I was sooooo upset. I am considering suing them........maybe

[pointman]

Thanks! didn't last though. .todays alert, 695..

She loves me - she loves me not...

[merkurfan]

OP, try HSBC auto loans. they pulled EQ for me, and it seems that is the company they like to pull. Stay away from crapital one, they pull all 3 for a autoloan.