Different credit scores???

Question

I pulled my credit through creditreport.com and my middle score was 575. I went and applied for a mortgage and when they pulled my credit it came from "Credit Plus, Inc." and the scores were WAY lower. My middle one was down to 544. Why did I get a different score than the mortgage company??? I had a little cleaning up to do that would have brought me up to about a 620 according to my score, but only up to a 600 according to their score. (This makes a huge difference in my interest rate). Any answers???

thank you in advance! :)

Answer 1

Your score changes day to day. ALL the activity, including the credit inquiry from the mortgage company, will drive your score up or down.

The best thing to do is to address your "factor" issues. Your credit scores have 4 factor codes which tell you the 4 reasons your score isn't higher. Read these and ask your mortgage person to help you (or YAnswers) if you aren't clear on what they mean. AND stop running your credit report - including on creditreport.com. Get the most recent copy from the mortgage company and don't run it again. When you get into lower score ranges (especially in the mid 500s) you get dinged much more for credit inquiries.

Good Luck - let us know if you need any more help!

Answer 2

Your credit score "can" change every day. It is entirely possible to have one score one day and another the next.

I have been pulling my scores from each of the agencies every day for the last month(I'm about to apply for an auto loan). My score has changed twice in the last month. I don't even know what caused a six point gain on Equifax, as I could not find anything that had changed.

The good news is that you can change your score rather quickly. My Experian score jumped 57 points today, from 610 to 667.

The points jumped because I paid a 30.00 medical collection. The NCO collection was not removed from my report. It was only marked "Paid". That alone gave me a 57 point gain.

Can't wait until the end of the month, as I have paid all of my credit cards to zero balance and paid off an auto loan. Hoping to zoom into an even better credit score.

I was hoping to keep Equifax as my middle score, but that just brought my 615 Equifax score to the lowest. That collection has not yet updated on Equifax, so we'll see what happens when it does.

Anyway, keep your head up and know that things can improve very quickly. Hope you get the house!

Answer 3

Hello Melissa,

There are many reasons this can happen... The most probable is the fact that you ordered your credit report from creditreport.com

When you order your report from an online compnay, you arent getting your actualy credit reoprt for a couple reasons..

1. the report is usually 3-4 months old, and is not showing you a current score..

2. the report isnt taking into accoun tinformation from all of the bureaus, so it isnt an accurate report..

A mortgage company on the other hand is receiving a credit report from the day they pull it.. It is accurate because it is pooling yuour information that is current on the day of the pull..

This is why you are seeing a difference in scores..

I have bene originating mortgage loans for 13 years now... This is very common because so many more online credit reporting companies are opening..

One thing i can do for my clients is explain in detail the things you can do to imrove your credit scores... We actually ahve pilot programs such as credit rebuilder options to accelerate the process as well..

Feel free to call me anytime for more advice.. I would be happy to assist you wiht a refiannce.

Good Luck!

Jason Fry
Licensed Mortgage Loan Officer
Treehouse Lending
312-239-7126
[e-mail]

Answer 4

because of the fact a credit skill any quantity that somebody comes to a decision to call a credit. in case you verify out the clock, and see what time that's, then you definately can value somebody for a "credit" and supply them the time which you observed on the clock. each and each place merchandising credit rankings strategies its very own numbers, its very own way. they could desire to no longer be the comparable, different than by skill of accident.

Answer 5

Your scores that you ordered were not true FICO scores which you need to order from http://myfico.com (or you can get just your Equifax score from http://www.equifax.com ). Classic FICO scores, which are the ones that most mortgage lenders used, are not to my knowledge available from anywhere else. The scores you bought are sometimes referred to as "FAKO" scores. Even TransUnion and Experian sell FAKO scores when people buy scores through annualcreditreport.com (the site where you get the free reports annually).

Don't buy scores from anyone other than MyFico.com or Equifax.com... you are getting ripped off!