Source: Based on the VantageScore, FICO score, Equifax, and Experian credit score range model. Equifax: why are my credit scores different? Your scores might be different on your Equifax and TransUnion credit reports. My Equifax report still lists my employer as "Parental Allowance" from when my parents helped me get my first credit card at 18. Why is my Credit Karma score higher than my actual score? This is mainly because of two reasons: For one, lenders may pull your credit from different credit bureaus, whether it is Experian, Equifax or TransUnion. Theyll likely be slightly different, and its possible they could be very different. A “good” score may rest in the 661 – 720 range. Can be off by up to 100 points —causing you to under or overestimate your creditworthiness. Both companies collect credit information on individual consumers, which they sell to lenders and. Good: 670 to 739. I just pulled my Transunion and Equifax FICO scores from myfico. The reason that this score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data. FICO is a risk score calculated based on your debt history; there are at least 40 different. In contrast, TransUnion offers a free plan, as well as a subscription plan that costs $24. I thought 900 was a hypothetical score, like someone bowling 300. Experian offers free access to credit scores and credit reports. Suzanne Kvilhaug. The scores we provide are actual credit. Why is my Equifax score lower than TransUnion? The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. Why is my TransUnion score so much lower than Equifax? The credit bureaus may have different information. On Credit Karma, my score are 797 and 806 for. It is also important to note that lenders might send their reports at different periods of time, so it is possible that TransUnion might have fresher updates than Equifax and vice versa. The information is compiled into a credit file. As your score climbs through and above this range, you can benefit from the increased freedom and flexibility healthy credit brings. Your Equifax credit. Equifax comparison, both rely on some of. This is one of the least forgiving bureaus because much more weight is assigned to your payment history and the average age of your credit accounts. The Equifax credit score model uses a numerical range between 280 and 850, and FICO score models use a range between 300 and 850. One other thing to note is that the length of your credit history used by the 2 credit bureaus is different as well. They have change slightly since I originally post the. Use? , 90% of system design is similar few numbers in life accuracy or completeness of Equifax in the United one credit report. . FICO® Score 8 may punish numerous late payments more severely than previous versions. Some people want to achieve a score of 850, the highest credit score possible. 4. When it comes to the TransUnion vs. Most of the time, scoring differences are not unusual because there are differences in the information on file at the credit bureaus. If you have any credit accounts, such as credit cards or loans, you have a credit report. Why is my TransUnion score 100 points lower than Equifax? The credit bureaus may not have the exact same information on you. FICO is a separate product issued by a separate company. Final Verdict. High balances in comparison to credit limits can affect credit scores, and are a common reason for credit scores to fluctuate. 0 and 2. wrote: Why is my Experian score 74 points lower than my TU and Equifax scores? It reports the same stuff as the other 2. A credit score discrepancy is a difference in your credit score from one credit bureau to another. The other two only report the name of your employer and do not add any weight to that fact. Why is Experian score lower than TransUnion and Equifax? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. It’s possible you have some pulling your score down on TransUnion that’s not showing up in your Equifax report. 9. On the other hand, TransUnion’s CreditVision Risk Score looks at data over the past 24 months. Your score differs. Updated: Aug 03, 2023 Why Your Credit Scores Can Vary So Much at Equifax, Experian, TransUnion Learn why credit scores from TransUnion, Experian and Equifax credit bureaus can be so. Your VantageScore® 3. I have 596 Exp and 670 with the other 2. Equifax is reporting nearly 100 points lower, actually updated today I see it dropped another 22 points because I. When your score is high you have better opportunity for lower lending rates. 0 range from 501 to 990. Poor: 300 to low 600s; Fair to good: Low 600s to mid 700s;As you can see in the examples above, Nate’s Experian FICO Score 9 was 25 points higher than his VantageScore from Transunion and 20 points higher than his VantageScore from Equifax. Would love to know the answer! Hello - 1303709Why is my Experian score so much lower than TransUnion and Equifax? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. Why is my TransUnion and Equifax score different? The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. The other two only report the name of your employer and do not add any weight to that fact. This may be a silly question but how come my Experian score is so much more different than my Equifax and Transunion scores? I get that they vary a little depending on the credit reporting company but my Experian score is drastically lower than the other two and I'm not sure why. The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data. This is free. S. FICO scores are generally calculated using five categories of information. I don't understand how they can be different by 30 points, let alone. I will update these charts on a monthly basis and make notes of any. This factor can affect your credit scores even if you pay your credit cards off in full each month. Why is Equifax lower than TransUnion? The lower Equifax number is a common concern for many people. This includes an. If your credit file is different with each credit bureau, then your credit score might be different as well. There is now, an almost 50 point difference, in the negative, between my Transunion score and the others. A “good” score may rest in the 661 – 720 range. Good: 670 to 739. Credit bureaus are companies that collect consumer credit information. This means that there is not only a clear 200 point difference between these two bureaus but the “perfect scores” are also different, which is 1000 as reported by Experian and 1200 as reported by Equifax. TransUnion offers more insight into a person’s job history, whereas Equifax provides more information about mortgage history. Higher scores mean you have demonstrated responsible credit behavior in the past, which may make potential lenders and creditors more confident when evaluating a request for credit. Recently got a credit check for a mortgage and the Equifax score was 700, much lower than expected. Although ranges vary. The other two only report the name of your employer and do not add any weight to that fact. If you’d like to know more about the factors that influence your credit score, read our article on how credit scores are calculated. Length of credit history: 15%. They’ll be in red and in order of importance. Which is better Experian TransUnion or Equifax? Based on our analysis, Experian provides the best service for the money. Credit Report costs Rs. There are also third-party credit monitoring services, such as MyFICO, Identity Guard, and LifeLock. All you need is to follow the steps below: Login to your CIBC account on the mobile app. On March 12th, 2019, I disputed multiple records for various discrepancies with all three of the credit bureaus. 300 to 579 (poor credit): Most lenders will reject applications from borrowers with a score in this range. Like before, the higher the score, the stronger your credit. It may also be looking at a different FICO scoring method. On top of that, these credit reporting agencies use different scoring models to produce credit scores. . These are what you see when you look up your. When a lender runs your credit, they’ll usually see your three FICO scores from Experian, Equifax and TransUnion. So, if you have a $4,000 credit limit, your balance should remain below $1,200. Maybe some small difference, like if you get a hard pull, it may only be on one but not the other. Valued Member. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you'll see wide credit score discrepancies. Why is my TransUnion score 100 points lower than my Equifax? You might expect all of your credit reports and scores to be the same, but they are usually not. A 700 score places you right in the middle of the good range, but still slightly below the average credit score of 711. If it makes you feel better, most lenders don't even check them. Why is my TransUnion score lower? Your credit scores are calculated using information in your credit reports, so it's normal to see your score change as lenders provide updates to that information. I think this is due in part to (1) some of my inquiries hit only Equifax rather than TU, and (2) for some bizarre reason, Equifax isn't calculating my age of accounts (it says N/A or something like that), nor is it accurately reporting my credit limit. Score: 4. But I have not had any alerts or changes since January 20 on Equifax at all. The other two only report the name of your employer and do not add any weight to that fact. Equifax Equifax scores range from 280 to 850. A good VantageScore lies between 661 and 780, which the company calls a “prime” credit tier. Why is my Equifax score 100 points lower than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. Different scores use a different scoring model and are the reason why they vary. The other two only show one credit report and the name of your employer and do not add any weight to that fact. The three credit bureaus are Equifax, Experian, and TransUnion. Which is better TransUnion Equifax or Experian? Based on our analysis, Experian provides the best service for the money. This means that there is not only a clear 200 point difference between these two bureaus but the “perfect scores” are also different, which is 1000 as reported by Experian and 1200 as reported by Equifax. first time posting on here! I have pulled my credit reports from TU (743) and EQ (721) and having a WalMart CC have also pulled my FICO score there (684). On Credit Karma you’ll see scores and reports from TransUnion and Equifax, both using the VantageScore 3. FICO scores are calculated based on five categories that each make up a percentage of your score: 35% payment history. General FICO ® Scores range from 300 to 850, and so do VantageScore 3. 0 and 4. By law,. in 2020 TU was ~40 lower than my EQ and ~30 lower than my EX. One uses FICO Score 9 based on data in my Equifax credit file. One uses FICO Score 9 based on data in my Equifax credit file. This is because individual consumer reporting agencies, credit scoring companies, lenders and creditors may use slightly different formulas to calculate your credit scores. . Key Takeaways. 0 in July 2021 was 693. Secured credit cards are a special type of card that requires a cash deposit to insure purchases made with the card. 590 on Experian, 651 on Transunion, exact same information for both. We’ll be covering that in greater detail below. The point of this. Depending on what your scores are, you may wonder what they mean. Equifax vs. Some report to all three. | Last update: February 9, 2022. Credit Karma only uses Trans Union data so it does not take into consideration Experian or Equifax data which can be different. Variations in the data reported by creditors and lenders, as well as. Above 800 = Exceptional. One place to look is derogs. 0 on Credit Karma will likely be different from your FICO Score that lenders often use. 95 a month. Why is my Equifax score lower than TransUnion? The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. Instead, we work with Equifax and TransUnion to. In other words, your credit utilization rate is how much of your available credit you’re using at any given time. 550. These are things like lates and collections and. Credit mix: 10%. Generally, the credit bureaus collect information from different sources and have their own scoring model. There are a number of reasons for this. Credit Score Ranges. 0. When the scores are significantly different across bureaus, it is likely the underlying data in the credit bureaus is different and thus driving that observed score. Equifax: How to check your credit scores. Why is Equifax lower than TransUnion? Neither score is more or less accurate than the other; they're only being calculated from slightly differing sources. But if you’re looking to take out a loan anytime soon, we still. Available for free with monthly updates on Paisabazaar. In Nate’s case, Credit Karma was accurate enough to say that he had an excellent credit score, but wasn’t perfect. All credit-scoring agencies, including TransUnion and Equifax, use proprietary scoring models, and despite the fact that credit scores are based on similar or the same factors, such as payment history and the number of accounts in good standing, each model can weigh some of these factors in a different way. Each company has its own method of collecting financial information about you, and the. Gives you a better understanding of your credit and more confidence when you apply. As the model differs, the results do the same. To maximize all these scores you. If your total credit limit across all your cards were $10,000, you’d want to keep your total balances below $3,000 to limit the negative impact on your score. Users of TransUnion eCredable Lift can report their utility bill payments, resulting in an overnight improvement to their credit scores. I thought it would help me get a good. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you’ll see wide credit score. The main difference is Experian grades it between 0 – 1000, while Equifax grades the score between 0 – 1200. There are many different scoring models. For starters, Equifax and Transunion have their own proprietary algorithms, with each one assigning a different weighting to the criteria. 0 vs FICO 8 credit score comparison charts for TransUnion, Experian, and Equifax with my credit scores. A failure risk score will range from 1001-1,610, with a lower number meaning that the business is a high risk. Equifax and TransUnion scores can only be as accurate as the information they receive. Data Collected. So, it's possible that Equifax and TransUnion could have different credit information on your reports, which could lead to your TransUnion score differing from your. I have 596 Exp and 670 with the other 2. Meanwhile, VantageScore 3. The first two versions of the VantageScore ranged from 501 to 990, but the latest VantageScore 3. I am and have been getting alerts from Myfico about a lot of changes in my TU and EX since the beginning of February. Then I came directly here to myFICO and ran my FICO score. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus. In fact, there are several reasons why your scores from Experian, TransUnion and Equifax are typically different. There are many different scoring models. You’ll be able to attach supporting documents to your dispute if you submit it directly with TransUnion. Borrowell pulls data from Equifax and CreditKarma pulls data from TransUnion. FICO. The most likely explanation is that your three reports are not exactly the same, and that in particular there is something on the EX report that makes its score worse. FICO. My Equifax is more than 100 points lower than my TU score. Like all credit-reporting agencies, TransUnion and Equifax use. Both companies collect credit information on individual consumers, which they sell to lenders and. A person’s Experian credit score may be lower than their TransUnion or Equifax scores for several reasons. Taking a 290K loan, I have been paying $1900/month for almost 1. Note that a credit report =/= credit score. Inquiries stay on your credit report for. Like, TransUnion and Equifax both get told about all your credit lines and debts, so they should both have all that data. FICO defines the following credit ranges based on FICO® Score 8 credit scores: Exceptional: 800+. VantageScores below 600 are considered “subprime. Your score — along with other. Credit Karma for credit score accuracy, you may want to understand first why you have multiple credit scores — and how your scores affect your financial progress. Users of TransUnion eCredable Lift can report their utility bill payments, resulting in an overnight improvement to their credit scores. You have different credit scores, so your other credit score might be higher, or lower, than the TransUnion score you see on Credit. I called Equifax to find out why they were vending a different credit score to the lender than to me. Some lenders only report to one credit bureau, while other lenders report to both. Both Equifax and TransUnion have scores that range between 300 and 900 in Canada. Equifax vs. The CRA each calculate their scores uniquely so they do tend to move differently for different things. ). However, interest rates will be higher, and the loan amounts will often be lower. Identity Guard. Equifax. 9/5 ( 64 votes ) Your payment history on loan and credit accounts can play a prominent role in calculating credit scores; depending on the scoring model used, even one late payment on a credit card account or loan can result in a decrease. between my two scores could stem from the fact that Equifax reports a slightly longer history and more accounts than TransUnion. By comparing the different reports from each agency, you can make a more informed decision. Conversely consumers with lower FICO scores at bureau "A" will likely get low FICO Scores at the other two bureaus when the underlying data is the same across the bureaus. The lower Equifax number is a common concern for many people. But remmember too that those scores are only about 7% apart. wrote: Why is my Experian score 74 points lower than my TU and Equifax scores? It reports the same stuff as the other 2. See your credit utilization rate details for each bureau. 0 is between 720 and 780. When the scores are significantly different across bureaus, it is likely the underlying data in the credit bureaus is different and thus driving that observed score. They might also weigh your information differently depending on the type of credit account for which you've applied. Score: 4. When you log into your Credit Karma account, you can access your free credit reports and scores from both TransUnion and Equifax. And a lender may report updates to different bureaus at different times. Learn more. Experian is often a way better monitoring system based on their record keeping. Good. Each of the three nationwide consumer reporting agencies (Equifax, TransUnion and Experian) might include different reported information such as your current credit limits and account balances, as well as information on certain public records like a bankruptcy. Why is my Equifax score lower than Experian? This is due to a. Delinquencies reported on a loan reported on one credit report, but not the others, is the most common reason why you’ll see wide credit score. We would like to show you a description here but the site won’t allow us. Of course, getting at or close to 0% is best. FICO 8 is more. . 300-900. Why is my Experian score 100 points higher than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. A credit score discrepancy is a difference in your credit score from one credit bureau to another. Length of credit history: 15%. troyb. When people obtain their credit score through Transunion and Equifax, they are often surprised to see a different credit score from each bureau. ”. First, lenders often perform what’s known as a credit check or a hard inquiry to review your credit reports and determine if you’re a suitable candidate for a loan. 0. Equifax and Transunion use FICO 04 models for mortgage scores (309-839 and 334-818). 0, which is used far less often. If a collection shows up on Experian, but not the other two bureaus, you Experian credit score will be lower than your TransUnion and Equifax scores. In a Nutshell. But industry-focused FICO ® Scores range from 250 to 900, and VantageScores 1. An Equifax credit score is an educational credit score. Here’s why your FICO® Score 9 credit scores could be different. TransUnion report is accurate and I am pleased with my score. The main difference is Experian grades it between 0 – 1000, while Equifax grades the score between 0 – 1200. That applied to both individuals and family plans. Because different lenders rely on different credit reporting agencies,. While the high end of the range are all within 10 points of each other, the lower end shows a much larger span. So, it's possible that Equifax and TransUnion could have different credit information on your reports, which could lead to your TransUnion score differing from your. The basic FICO credit score range is 300 to 850. Fiance's scores are 770 and 760 for Equifax and TransUnion respectively. However being under 700 on one while being over 800 on the other is unusual. That’s because most issuers report credit. Equifax, Experian and TransUnion are the three credit bureaus responsible for reporting your credit score. Partly because FICO makes many scoring models, and also because the data that goes into the model could come from three different places. Why is my TransUnion score so low? There are two main reasons why credit scores for the same consumer can vary by more than a few points: Differences in the information on file at the three major credit bureaus – Equifax, Experian and TransUnion. For more information please visit us at and book an appointment today. | AUWhich credit bureaus banks check. Hi, I use Credit Karma. For more information please visit us at and book an appointment today. Current spread is 81 points. A good score with TransUnion and VantageScore® 3. TransUnion is bringing up the rear among the three. I wouldn't worry about it. Using a variety of factors, the company will give you a three digit score ranging from 300 (lowest possible) to 850 (highest possible). Similar numbers. Why is my FICO score so much lower than my TransUnion and Equifax? This is mainly because of two reasons: For one, lenders may pull your credit from different credit bureaus, whether it is Experian, Equifax or TransUnion. That being said, if any credit score (even an. Transunion Vs. The other two only report the name of your employer and do not add any weight to that fact. TransUnion 30%. I had a few accounts and debts on my report that have all been. Credit-scoring models can differ and. The score from Experian is FICO 08 scored as well. It's important to know that you have more than one credit report. In fact, there are several reasons why your scores from Experian, TransUnion and Equifax are typically different. Equifax offers a variety of credit monitoring services priced from $4. These factors are likely to yield different credit scores, even if your credit reports are identical across the three credit. Tackling those reasons will help improve your score along with practicing good credit behaviors. So here is my situation: In August 2010, I bought a house at lower 300K and paid 10%+ down, thus having PMI over $100+/month. The other two only report the name of your employer and do not add any weight to that fact. I did find a couple of minor discrepancies on my Equifax report, disputed them, and they have been "resolved. “It was close to 730. This is why it’s. TransUnion provides the VantageScore 3. On Credit Karma you’ll see scores and reports from TransUnion and Equifax, both using the VantageScore 3. From a BK years ago to: EX - 3/11 pulled by lender- 835, EQ -. . Many creditors have a custom one, so may not even use the score you see. . Here are five main factors that affect your credit scores: Payment history, or whether you pay your credit accounts on time, makes up about 35% of the typical credit score. Score: 4. Source: MyFICO. Why is my Equifax score 100 points lower than TransUnion? You might expect all of your credit reports and scores to be the same, but they are usually not. Credit mix: 10%. My Equifax report still lists my employer as "Parental Allowance" from when my parents helped me get my first credit card at 18. In my experiance, they seem to be more up to date on your payment history, but not your balance. Most banks use FICO scores. ”Earlier this year, pharmacy technician Curtis Webb thought his credit score was high enough to help him snag good terms on a mortgage. Would love to know the - 1303709And FICO says scores between 670 and 739 qualify as good scores. TransUnion uses the VantageScore ® credit scoring model to calculate your credit score. Poor: 300 to low 600s; Fair to good: Low 600s to mid 700s; As you can see in the examples above, Nate’s Experian FICO Score 9 was 25 points higher than his VantageScore from Transunion and 20 points higher than his VantageScore from Equifax. The widely used FICO credit score, which is derived from information in your credit file, ranges from a low of 300 to a high of 850. Why is my Equifax score 100 points lower than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. Transunion: 676. Scores range from 300 (very poor) to 850 (exceptional). For auto and personal loans, banks usually ask only one of the three big credit-reporting firms — Equifax, TransUnion or Experian — for a score, Bingham said. No searches, no defaults no nothing. It shows my Transunion score from 4 months ago -February 2015 (score=715) and my Equifax score (NO SCORE) as of 1 - 4072030. 0 scores from TransUnion and Equifax. Score differences are very common and are usually the result of small variations of when information is reported and how it is weighted . My mortgage broker said because of the 588 score, I wont even get an offer from her 30 lendors so she said it's probably not worth even applying/trying until I get that to an even 650 on Equifax. 15% length of credit history. Credit-scoring Models Are Different. Though both TransUnion and Equifax do the same thing (calculate your credit score), they do it in different ways – which means it’s not unlikely that your credit score may be slightly different between the 2 companies. Yes we display your Equifax credit score. You can find the contact information under the account details section of your credit report. Amex primarily pulls Experian, though sometimes Equifax or TransUnion reports. My Equifax (from Borrowell) is consistently 80-100 points lower than my TransUnion score (from CreditKarma/BMO), despite both reports showing the same credit accounts, inquiries and lack of collections or other negative items. Experian and Equifax are the two largest credit bureaus in the United States. If a collection shows up on Experian, but not the other two bureaus, you Experian credit score will be lower than your TransUnion and Equifax scores. For example, let's say you're going to buy a house. You also have an Equifax FICO® Score 8 and a TransUnion FICO® Score 8. Additionally, if the account you closed was your oldest line of credit, it could negatively impact. It is really affecting me getting an auto loan. Even though the precise number of the ranges might vary, in practice, the differences aren't major: The higher your credit score,. . Capital One doesn't have a favorite — but often pulls more than one. Credit score range. 5/5 ( 12 votes ) The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. Each is collecting the same information about your credit history, but it's not uncommon for there to be slight variations among the different reports. We would like to show you a description here but the site won’t allow us. Why is my Equifax score low? A low score (less than 650) indicates a high-risk customer with a high probability of defaulting on debt obligations. Even if they have the same accounts and balances they may classify them differently. Why is TransUnion credit score lower than Experian? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at. Why is my Experian score so much lower than TransUnion and Equifax? Reasons Why Your Credit Scores Differ From Bureau to Bureau – It’s unlikely that you’ll have the same credit score across each of the three credit bureaus. See moreWhy is my Equifax credit score 37 points lower than my Experian score, and 47 point lower than my Transunion score? I have compared all 3 of my credit. First things first. So, it's possible that Equifax and TransUnion could have different credit information on your reports, which could lead to your TransUnion score differing from your Equifax. If your total credit limit across all your cards were $10,000, you’d want to keep your total balances below $3,000 to limit the negative impact on your score. You are accessing the "consumer" credit report. 0 scores. Experian and Transunion are usually much higher, but neither really tops the other consistently. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you'll see wide credit score. ”. 10% types of accounts, known as credit mix. The lower Equifax score compared to TransUnion can be attributed to the different factors and weighting used in their credit scoring models. Both FICO and VantageScore assign higher credit scores to consumers deemed as lower-risk borrowers, and both currently range from 300 to 850. FICO Scores range from 300 to 850. Is there a specific reason for this? A: The reason your credit scores are different from each other is because of the different information that the credit bureaus have about you. If you’re wondering why your Experian score is lower, you’re in the right place. Both Equifax and TransUnion have scores that range between 300 and 900 in Canada. There’s a difference in algorithms between TransUnion vs. VantageScore is the result of a collaboration between the three nationwide credit bureaus – Equifax, Experian and TransUnion. I painstakingly fixed my credit score after several years of lousy credit and monitor my score regularly through CreditWise from CapitalOne, which is based on TransUnion, and from USAA which uses Experian. In this case, there might be a brief period where your Equifax credit score is significantly lower than your TransUnion credit score.