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mikeykalzone25

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Why are my Transunion and Experian scores on Credit Karma different from what the bank tells me?
I was rejected for a refinance on my car because they tell me my credit score isn't even 630. Credit Karma tells me my scores are 680 and 647. Why is that?! I feel deceived and that all the time I spent in the past 2 years trying to improve my credit score (so I could get that refinance) was a waste of time.

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1. There are many credit models witht eh main ones being FICO, VantageScore. Roughly 90% of the time a FICO score is used and VantageScore only 10% of the time. CK does its own thing which closely resembles VantageScore. Furthermore, withing each model there are variations. For example your car company will use an Auto specific score that puts greater empahsis on auto loans and leases. Fico has different modesl from different eeyars so some business who pull FICO may still pull a more recent year which is vastly different than the later years (most recent FICO fro example deephasises medical debts).

2. There are 3 credit bureaus -- Experian, Transunion and Equifax. CK does the latter 2 reports.  So it is possible the dealer pulled Experian and it si possible that Experian has vastly different information than Transunion and Equifax. They are also not the Auto reports. 

3. The two years you have "wasted" you did not actually waste. You maybe learned some better habits, which at your credit score level youa re likely to have badly needed. 

4. For your score to be htis low, you must have many derogatories on your file. Your first tep is to pull all three credit reports (annualcreditreport.com gives them to you once every 12 months for free), and go through that.  

2.

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