My Experian credit score is "Excellent" but my Experian one is "Very Poor". I appreciate different credit companies use them differently but how can they be so different!?
2007-07-19 00:23:05 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
It should read Equifax excellent, experian very poor. It is difficult to see why as there is nothing in the report to suggest why (no late payments etc.)
2007-07-19 01:59:56 · update #1
I had had this excellent/very poor conflict for about 6 months now
2007-07-19 02:03:13 · update #2
they both have different info about you.contact experian to find out
2007-07-19 00:26:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I am guessing that you really meant that your Experian score is excellent, but your Equifax or TransUnion score is very poor.....
You need to look at the actual report to figure out why. A few possibilities:
- Your poorly scoring report has been merged with someone else's report, usually with a similar name, that has poor credit.
- You have one or more valid derogatory accounts that report only to the low scoring credit bureau
- There is a derogatory account on both credit bureaus, but because of timing, only the poor scoring credit bureau is showing the derogatory information right now. In a little while, your score will go down on the other credit bureau, too.
- The poor scoring credit bureau has picked up a derogatory public record that the better scoring credit bureau hasn't (yet).
If your poorly scoring credit report has any derogatory information that isn't legitimately your data, you need to start disputing it. If the derogatory information is legitimately yours, beware that your high scoring credit report may become a low scoring one with time.
2007-07-19 07:53:48 · answer #2 · answered by aj485 5 · 1⤊ 0⤋
It actually costs companies money to report to the credit bureaus. Not all companies report to all three. Sometimes just two or even just one.
Having said that, the reports and scores will be different b/c they have different information to take into account. What's more, they all have different scales for their scores.
For example:
Equifax's scoring scale is 300-850
Experian's scoring scale is 330-830
TransUnion's scoring scale 150-934
It's like comparing oranges, grapefruit and lemons. Granted, they are all citrus fruit, but they're different.
I hope that helps!
2007-07-19 09:12:20 · answer #3 · answered by YSIC 7 · 1⤊ 0⤋
Not all credit companies report to all three bureaus. Depending on which region of the country you live in, more information will be reported on one bureau than another. Perhaps one of the bureaus has inaccurate information that needs correction. Also you may want to consider the source of the "score" different companies use different algorithms to determine your "score" and it may be a variation of that.
2007-07-19 09:20:39 · answer #4 · answered by sunrisecitycarpets 2 · 0⤊ 0⤋
Different companies use differnet credit scorers therefore it must just be luck that the ones you have good credit rating with use experian.
2007-07-19 07:34:32 · answer #5 · answered by book girl 3 · 0⤊ 0⤋
If you have received your credit report it should tell you what the bad credit is.( Bill unpaid or continuously paid late) If its incorrect then you have to contact them with proof of it being wrong which is easier said than done. Check it and make sure. Be diligent this is your credit.
2007-07-19 07:35:59 · answer #6 · answered by smile4u 5 · 0⤊ 0⤋
i am struggling here
your EXPERIAN score is excellant, but you EXPERIAN one is poor ??
are these not the same company, or am i missing something.
2007-07-19 07:47:13 · answer #7 · answered by alatoruk 5 · 0⤊ 1⤋
A friend of mine had a similar situation and was unable to resolve it till I told them about a credit attorney I had used. They got it resolved quickly. You can find that information here
http://www.1-800badcredit.com/bad-credit-repair.html
Good Luck, they can help you.
2007-07-19 11:54:57 · answer #8 · answered by Dewey K 2 · 0⤊ 2⤋