Credit Scores from online websites are inaccurate!

[debtjumper]

I went to a mortgage broker this morning walking in thinking that my credit scores were in the 650 range. I pay $9.95 monthly to Experian for them to monitor my credit report and score. I also pay Transunion for the same.

The mortgage broker ran the report thru CBCInnovis. It came back with scores 536-557.

That is about 100 points LESS than what the scores are from the agencies!

What gives???

What a waste of money though - I'm going to cancel my $9.95/mo subscriptions at once.

[SinkingFast]

Here's a link to a thread where Innovis has been discussed previously on the Forum:

http://www.bankruptcyforum.com/showt...hlight=innovis

[MTG_BANKER_OH]

I went to a mortgage broker this morning walking in thinking that my credit scores were in the 650 range. I pay $9.95 monthly to Experian for them to monitor my credit report and score. I also pay Transunion for the same.

The mortgage broker ran the report thru CBCInnovis. It came back with scores 536-557.

That is about 100 points LESS than what the scores are from the agencies!

What gives???

What a waste of money though - I'm going to cancel my $9.95/mo subscriptions at once.

This is pretty common, the mortgage scores are a little different then what other vendors scores they are different between car loans, credit cards etc.. the most accurate scores to what your scores are for a mortgage is with myfico.com in my experience.

[tinroofrusted]

This is pretty common, the mortgage scores are a little different then what other vendors scores they are different between car loans, credit cards etc.. the most accurate scores to what your scores are for a mortgage is with myfico.com in my experience.

I have personally found that Myfico is a ripoff too, unfortunately.

We used to have people pull their scores from their, bring them into us, and they'd be WAY off from the reports that we'd pull....

[newstart]

Can anyone tell me how to obtain an accurate score?

[aa06a47]

Can anyone tell me how to obtain an accurate score?

More than likely, your experien score is a "plus" score. As you have found out, it is about 100 points different than the true fico score. Experien is using there own calculations so they don't have to pay fico for there score.

[debtjumper]

Can anyone tell me how to obtain an accurate score?

Well the mortgage broker I went to uses CBC Innovis. I did some web browsing and Innovis has their own website; you can pay them for a report. I'm not sure if they'll give you a score with a report -- you better call.

Just be aware that this will probably put an inquiry hit on your public file and may possibly lower your score.