I stay on top of all 3 of my credit report scores monthly. Equifax is constantly 80 pts less than Trans Union and Experian. Looking at the credit reports I see no real difference on the 3 of them. Does anybody know why this would be the case? Why does Equifax suck. I'd like some info or atleast a contact number or email address where I can ask them.
2006-08-01 05:00:06 · 8 answers · asked by brian h 1 in Business & Finance ➔ Credit
all 3 bureaus have their own methods for calculating your score. don't really know what it is but the basics are timely payments, length of accounts, types of credit etc. they will always be that way regardless of what you say or do. if you want to know your "real" credit score it's actually the median or middle score of the three. some instances people will use the higher score but never the lowest score. trying to write or call them won't do any good as they NEVER get anything done in a timely fashion for any reason. they're wuick to put stuff on your report but take forver to get it resolved. my advice would be to not worry as this is normal for everyone. and yes equifax just sucks so, sadly, get use to it
2006-08-01 05:06:45 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Each bureau calculates differently, and thats why when you make a major purchase such as a home they can check all three bureaus, but usually something smaller like a credit card, or car loan they will just run through one burea, whichever they work with. If you think that Equifax is somehow shorting you, you can certainly contact them, and initiate a dispute, which usually takes about 2-3 weeks to clear up. If you're looking to contact Equifax their info is:
Equifax - 800-525-6285, P.O. Box 740250, Atlanta, GA 30374
Also, keep in mind if you are checking your credit score more than once a year it can negitively effect your score as well. Equifax may take that into consideration more than the others. Monthly is a little extreme, and will often make creditors wonder why your credit report is constantly being looked at. In fact, this is a valid reason for denail at some institutions, regardless of how good your credit score is. Any Financial Advisor would probably say it's not a good idea to pull it that often.
2006-08-01 12:15:56 · answer #2 · answered by ShouldBeWorking 6 · 0⤊ 0⤋
It's strange but, for the first time in my life I tried to rent a place. I lived in my own home until my divorce three years ago. When they ran my credit, I found out I have MASSIVE identity theft. The strange thing is it's mostly on Experian! Experian lists over 70 lines of credit for me. Trans Union and Equifax list only about ten each. There are other names and social security numbers on my accounts and everything! However, I have a medium credit score. Most of the accounts are still active and say they are being paid as agreed. That's important in a credit score. Also, the amount you are paying out each month determines your credit score. It is calculated by the percentage of your income also. That's what brought my score down. These other people who are using my identity are paying about $5,000 more a month than I make. Obviously it isn't me! But I am now going through the process of straightening things out. I went through my bank, Wells Fargo, and bought their identity theft insurance. Most banks have something like that now and it helps speed things up. You may want to look into it with your bank. Also, I found out that different institutions, and you, get totally different reports! You don't get to see everything on your report. The bank will make sure you get a report that shows everything. Hope that helps!
2006-08-01 12:14:50 · answer #3 · answered by Patty 1 · 0⤊ 0⤋
Because they all have a different scoring system. One thing that may be bad on your credit may only hurt but 2 points with one agency, but with another it may be 5 points. Also in response to the other answer about pulling your question too often huts your score, as long as you are personally the one that pulls your credit it will not affect you- it's what they call a "soft pull" - but when you have people like banks or car lots to pull your credit, is when it starts effecting your score. They consider these " Hard Pulls".
2006-08-01 15:00:41 · answer #4 · answered by rissybabe2210 1 · 0⤊ 0⤋
Each of three credit reporting agencies use their own proprietary credit scoring system. They're calculated differently so the scores will be different.
My credit report is the same way, as is everyone else's.
Contrary to what another poster stated, you can check your own score as often as you wish without affecting it. Self-checks, as well as routine re-checks from current creditors do NOT affect your score and are NOT reported when a new credit inquiry is made!
2006-08-01 12:11:42 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 0⤋
The reason they are all different is that they each have their own way of calculating credit scores, and equifax uses the strictest of all, 90% of the time they are the lowest. You could try an online dispute at: https://www.econsumer.equifax.com/consumer/landing.ehtml?^start=&companyName=ADOBE_cpo&clickid=SUBPARTNER&siteid=188774
2006-08-01 12:06:44 · answer #6 · answered by Oscar R 2 · 0⤊ 0⤋
i heard its bad to check your credit scores too often. so try not to check them each month. maybe once every 6months.
2006-08-01 12:04:51 · answer #7 · answered by All4Christ 4 · 0⤊ 0⤋
www.equifax.com There are a lot of contacts there, depending on your situation.
2006-08-01 12:04:32 · answer #8 · answered by jboatright57 5 · 0⤊ 0⤋