i found out my credit score when i went to the annualcreditreport.com and paid a fee to look at my score with Experian. however, when i went into experian.com website my credit scorer was totally different! it was a 47 difference! why is that? i checked it the same day.... please help//..
2007-01-14 15:55:41 · 6 answers · asked by rache0116 3 in Business & Finance ➔ Credit
You actually have 3 different credit scores one for Experian, one from Trans Union, and one from Equifax. The score that you got from annualcreditreport.com was from one of the three. You can determine your actual credit score be getting all three scores ( a Tri-merge report) and the score in the middle is you credit score, so not the highest score, not the lowest score, but the one in the middle. This is done because not all creditors report to all credit bureaus this is why scores are so different.
Although your score will drop a little the more it is checked, it will not drop 47 points. It is more like 3. Also it will not drop no matter how many times it is check within 30 days as long as it is checked by people in the same field, i.e. if you are shopping rates for a mortgage loan.
2007-01-14 16:42:34 · answer #1 · answered by HappyDaisy23 1 · 1⤊ 0⤋
Are you sure both times you looked were based on the same scoring system? The FICO scoring system is the closest thing to an "industry standard" but each of the separate credit bureaus have their own proprietary system as well. If the scoring system you were looking on each website is different, then that would be why you saw a 47 point difference.
2007-01-15 09:22:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
hey Rach...different C/O's report to diff credit bureaus. so ur score with equifax may differ from transunion bcos they (the bureaus) don't all have the same info. ask ur credit card c/o or car loan c/o etc which bureau they report to. when u get a loan ask the lender which bureau they use (so u can make sure u've got ur best credit "picture"). if that's not the reason, review the credit report and contact them to correct any mistakes
2007-01-15 00:38:26 · answer #3 · answered by ? 2 · 0⤊ 0⤋
There is an interesting article that explains credit scores. I have put it in the source box for you. I hope this helps.
2007-01-15 00:06:36 · answer #4 · answered by SEO 3 · 0⤊ 1⤋
Everytime someone checks your credit the scored goes down. that is probably what happened to you. I think that is a lousy setup personally.
2007-01-15 00:18:37 · answer #5 · answered by Amber D 3 · 0⤊ 1⤋
You should only check your score periodically. The more you check the worse your score gets. Don't know why.
2007-01-15 00:23:28 · answer #6 · answered by the Machine knows 2 · 0⤊ 1⤋