Are all credit score websites accurate in determining your score?

Question

I just paid $5.95 on Transunion (from www.annualcreditreport.com) to get my credit score after being able to view my credit report for free and I got an 819 out of 925 and was rated as only "good". Other credit score postings say 819 would count as God-like status. I just wanna make sure that's a reliable conclusion. And what does this mean when I (first time homebuyer, so not super rich) plan on applying for a loan.

Answer 1

The only place that you can get your "true" score is from myFICO.

Any of the others, including the credit bureaus scores are "not" true scores.

Answer 2

There are 4 major credit reporting agencies and they will all differ slightly with your info and your score. Having an 819 for your credit is not just good, it is excellent. As a first time home buyer with that credit score you will have no problem getting financed with a great rate and plan. You should check out freecreditreport.com, they have access to all the agencies and can give you a report that has them on one page side by side so you can see how they differ. Regardless of that, you have great credit and shouldn't worry too much. Good for You!

Answer 3

Also keep in mind that lenders typically will take your middle credit score as a mitigating factor in the approval process for a home loan. Example: if your credit scores were as follows- Experian Credit Score 819, Trans Union Credit Score 780, Equifax Credit Score 760

The lender will take your middle credit score of 780 as the qualifying score as well as other factors like Debt to income ratio, time on job, or in the same profession,etc.

One other important factor you should know is that there are generic scores and custom scores. Lenders often use custom scores compiled from credit reports combined with other in house data from their portfolios such as account history which will show your score different than if you went directly to the credit bureau.

Also something that many people don't know is that depending
on how newly updated the software version the lender uses (or the outsourced company they use) to access your credit report with the credit bureaus can also determine your credit score which may differentiate with what you know it to be (if you you have been keeping track)

I have seen the above happen to myself many times with my own credit report with various loans as an investor.

Answer 4

In the scoring system that the big three use:

* If your credit score is over 800, you're in the top 10% of the populace. (Over 850 is considered excellent.)
* If your score is about 710, you're right in the middle. (Half of the US population is better, and half is worse.)
* If your score is below about 575, you are in the bottom 10%.

Answer 5

Must be. No one will give me credit.