What is the differece between a credit score from Experian, TransUnion and Equifax, VS. a FICO Score?

Question

I just got all my credit scores from the three major credit reporting companies. My average is 670. Now I keep seeing things that talk about FICO scores? What is that? And how do I get one? And what does it mean? i'm lost!!!

Answer 1

your fico score is your credit score it is the same thing

Answer 2

None of them is of any value. A credit score is simply a number that a company decides to call a credit score. If they wanted, they might even be able to count the number of letters in your mother's maiden name and call that a credit score. There is a difference because each company decided to call something different a credit score. It is like asking why different individuals drive different color cars or eat different amounts of food: there is no reason for them to be the same. The only score is of any real value is the FICO score, not any of the three scores that you mention. If you are not getting the FICO score, you might as well pick a random number and call it your score, because it will save you time and be less likely to trick you into thinking that it has value.

Answer 3

FICO is the credit score creditors use. Equifax uses FICO but the other two use their own scoring system, referred to as Fako.

Answer 4

It is the same thing. The three agencies will give you slightly different scores because their information updates at different intervals. Do a google on "FICO Score" to see what it means.