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Question By
yufb

1 Contribution
8 People Helped
Credit score disparities?
What is the reason between the wide disparities between credit scores from the different agencies? I know that no one knows the actual formula of how they calculate the scores but any ideas at all?? I pulled up my credit report and the only valid reason I could see is the credit inquiries. When applying for credit apparently the majority of the credit card companies check only 1 of the agencies ( only Amex on mine checked all 3). So using CK, I had been having the illusion of having a good score when in fact the other 2 are measly. Only because most of my credit inquiries are on Exquifax and Experian not TransUnion giving me a sort of inflated score here on CK.

FICO 718
TU 732
Experian 686
Exquifax 678

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Different Scoring models

Helpful to 1 out of 1 people

There are dozens of different scoring models and only FICO is close to what others will use.  New credit and Inquiries hurt you 10%, types of credit hurt.  Of the models no one lender uses the same one, so you are stuck... CK gives you an approximation of your history for Transunion, CreditSesame is free and gives you experian.

The reason for the wide disparities is that each one weighs a factor differently AND you could have different information listed on each credit reporting agency.  It is best to verify with each CRA that all information is accurate.

View the forums as creditboards dot com if you want to learn more, or google questions.

CK score is for entertainment purposes, I use it to monitor my overall credit health for TransUnion, but don't use it when I am considering applying for credit. 

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