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Drastically Different Credit Scores


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I recently applied for a home loan and the scores pulled vary drastically from the scores I check personally. Before the pull I checked and got:

726, 726, 735: Equifax, Experian, Transunion, respectively. With absolutely nothing adjusted the lender pulled 684, 688, 698 respectively.

Immediately upon seeing that I updated my credit scores, saw the new inquiry and still got 722, 722, 732.

How is this possible? That delta is insane...

Is there anyone I can contact to track down the difference?

Thanks!

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There's several different types of scores...there's a mortgage score, an auto score, there's the bureau's consumer score, there's a bankruptcy score and probably 1 or 2 more that I don't know about...

each of them weigh things in your report differently - that explains the difference.

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There's several different types of scores...there's a mortgage score, an auto score, there's the bureau's consumer score, there's a bankruptcy score and probably 1 or 2 more that I don't know about...

each of them weigh things in your report differently - that explains the difference.

Thanks a lot for the reply, it's a relief to have a shimmer of light in the murky cloak and dagger world of credit ratings.

Would you think that someone in my case (good credit looking for first mortgage) could expect to see a 40 point swing on my consumer vs. mortgage ratings?

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Willingtocope knows a great deal about FAKO vs. FICO and scoring models. The scores you pulled might be from credit reports which do their best to imitate what they *think* your score would be.

The FICO algorithm is private property so they don't know the exact formula. They guess. You will often see these scores on this site called "FAKOs"

If you pulled your FICO score directly from Fair-Isaac then you have a much better understanding of where you really are. However, that score has variations in the algorithm depending on what you are trying to do (i.e., buy a car, get a credit card, finance a house). These variated scores are not available to the public consumer. Thus you never know where you really are with your mortgage score.

Your true FICO score is the closest you can get and I pull it the day (because it can vary by day) I am going in for a major purchase.

I'm trying to channel Willingtocope...

Manage your debt, not your credit score.

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I checked my FICO and it did indeed match what the lender pulled. What's really amazing is that my consumer pulls were directly through an American Express sponsored Experian plan. You'd think they could at least get their own score correct...Pretty bewildering.

Thanks a lot for the response! At least the nonsense matches up now.

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I'm trying to channel Willingtocope...

Manage your debt, not your credit score.

i'm flattered. And, you certainly got it right....

and, note:

What's really amazing is that my consumer pulls were directly through an American Express sponsored Experian plan.
That still means that the scores you got were either complete FAKOs, or, at best, out of date FICO. FICO charges a fee for their scores. FICO scores older than 15 days are worth much less than today's score.
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so pull scores from FICO website and it will match what a car dealership or furniture store would have on their pull.

If you pulled from Fico at 10a and went to car dealership and have it pulled on the same day at 3p you might think that the scores would be very similar.

Is it?

i'm flattered. And, you certainly got it right....

and, note:

That still means that the scores you got were either complete FAKOs, or, at best, out of date FICO. FICO charges a fee for their scores. FICO scores older than 15 days are worth much less than today's score.

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so pull scores from FICO website and it will match what a car dealership or furniture store would have on their pull.

If you pulled from Fico at 10a and went to car dealership and have it pulled on the same day at 3p you might think that the scores would be very similar.

Is it?

Maybe. The problem is...what you pull is the FICO Consumer Score...some dealers use that, but the bank that actually lends the money may use the FICO New Car score, which is really weighted more towards how you've paid car loans in the past. The two scores might be close, but then again, they might not.
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If you are pulling directly from FICO at 10AM and the car dealership also pulled directly from FICO at 3PM, I would suspect the value to be very similar. The new car algorithm is slightly different then the generic FICO score you see when you purchase it, but the numbers should be close.

FICO charges you to see this. They charge the CRAs too. The inability to come to an agreement on what it should cost CRAs to see your FICO score is part of what drove Experian to develop their own scoring model and call it something else.

Your FICO score at this very second is worth more then your FICO score two weeks ago because it is more up to date and reflective of today's risk. So perhaps Equifax pulls your two week old FICO score (at a reduced rate) and relies on their best guess as to the algorithm along with relying on the fact that nothing has really changed in the last couple weeks on your credit report so they can ballpark your score. They also see the tradelines reported from individual creditors and can estimate that impact on your score as well.

Transunion only pulls monthly so their data is even more dated and they are forced to estimate the algorithm even further. Not to mention not all accounts report to all 3 CRAs.

This example is over simplified (and the timelines are not true) but you then get the idea of how your FAKO can vary so widely from your FICO. Take into effect that Experian has abandoned FICO altogether and uses their own scoring model and the numbers begin to skew quickly.

If you pull your credit report score (FAKO) at 10AM and the car dealership pulls the new car FICO score at 3PM, the values can be very different. In fact, the new car FICO score is not even available to you as a consumer.

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