FICO Score

[BKDischard12140]

Just checked my FICO score today and was quite surprised to find my Transunion score to be 577. Which quite shocked me . So I went and got my Transunion score directly from Transunion and it is at 684. SO I just was wondering if someone can explain why it is such a dramatic difference. My FICO Experian score is 665. Hope someone can help....

Thanks

[Roadrunner]

Credit scores are a money mill. Everyone wants to sell you one, and most of them don't matter for much. From what I can tell, the FICO is mainly the one that counts. Your Experian FICO and Transunion FICO are probably so far apart because they don't show the same information on the same accounts, or maybe one has more or less accounts than the other.

[tinroofrusted]

From my personal experience....

Don't waste your money purchasing a score from ANYONE.

It is a proven fact that the numbers that they give to consumers, are completely 100% different from the ones they give to creditors.

Point in question. We use the middle score of all three, normally TU. A lady the other day came in with the credit report, AND score that she had purchased from TU that morning. The numbers from that report and the ones we pulled were nearly 50 points different.

[edwards2]

amen to that tinroofrusted....I was upset about my scores initially. We used Privacy Matters because you could get scores for 2 people - spouse and myself - cheaper than some of the other companies. Someone on this forum said they just change the dates and never the scores...and he was right. Our information changed but the score never did and you know that cant be right. I questioned PM about it and they emailed me back with this song and dance about looking into it which of course they never did. I agree the scores are a ripoff. THe cost is high and FICO only gave me the scores for that DAY...huh? FYI my FICO score was almost 100 points higher than the TU score. It is such a racket. The lenders I spoke with all used different CR agencies. The bottom line is the FICO score which is typically higher. I have spent months disputing things on our reports and still at it. IT is scary to know that these 3 agencies control your financial well-being. By the way one lender told me the FICO score is only a part of it. They look more for financial stability - time on the job - in your house, etc. I think those companies just want you to think they are the ONLY way you will get a financial break with the lenders. NOt so.

[newstart]

Something I have never understood is why can't these 3 credit reporting agencies compare records so that they can all list the same information? Is it because there would be no need for all three if they did that? It is so annoying to have to constantly dispute things because every one of them is reporting it differently or not reporting it at all.

[Roadrunner]

The same reason that Coca Cola and Pepsi don't share formulas. They are in competition with each other, and they are in business to make money.

[HopeinHorizon]

There is a law that is about to be passed that requires all three to use the same formula for arriving at your credit score...

Right now they have their own formulas that they use, and each one is a little bit different to arrive at your score...

Once they get this uniform, there might not be as big of a difference, except if one company only reports to one credit bureau...