I painstakingly fixed my credit score after several years of lousy credit and monitor my score regularly through CreditWise from CapitalOne, which is based on TransUnion, and from USAA which uses Experian. Why is my Experian score lower than TransUnion and Equifax? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. Consumers normally do not have a single score but rather many credit scores. I wouldn't worry about it. The widely used FICO credit score, which is derived from information in your credit file, ranges from a low of 300 to a high of 850. 4. Re: Why is my transunion fico so much higher. Because there are varied scoring models, you'll likely have different scores from different providers. The whole credit industry is weird. As the model differs, the results do the same. “It was close to 730. Why is my FICO score so much lower than my TransUnion and Equifax? This is mainly because of two reasons: For one, lenders may pull your credit from different credit bureaus, whether it is Experian, Equifax or TransUnion. By comparing the different reports from each agency, you can make a more informed decision. Your VantageScore® 3. Whereas, TransUnion scores better on Plans and Pricing, and Monitoring and. 95 per month. The basic FICO credit score range is 300 to 850. Why is my TransUnion score 100 points lower than my Equifax? You might expect all of your credit reports and scores to be the same, but they are usually not. Credit mix: 10%. Current spread is 81 points. High balances in comparison to credit limits can affect credit scores, and are a common reason for credit scores to fluctuate. The average VantageScore 3. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus. In Nate’s case, Credit Karma was accurate enough to say that he had an excellent credit score, but wasn’t perfect. I am and have been getting alerts from Myfico about a lot of changes in my TU and EX since the beginning of February. On Credit Karma, my score are 797 and 806 for. This means that there is not only a clear 200 point difference between these two bureaus but the “perfect scores” are also different, which is 1000 as reported by Experian and 1200 as reported by Equifax. Most banks use FICO scores. This means that Equifax, Experian, and TransUnion don’t have access to exactly the same data, which accounts for the difference in credit scores. Transunion Vs. When the scores are significantly different across bureaus, it is likely the underlying data in the credit bureaus is different and thus driving that observed score. 740-799 = Very Good. Only Credit Report costs Rs. The actual service level is comparable with Equifax, but the subscription price is $10 per month lower than Equifax. Experian is 601 and Equifax is around 689. The three credit bureaus are Equifax, Experian, and TransUnion. 9. A good VantageScore lies between 661 and 780, which the company calls a “prime” credit tier. I just pulled my Transunion and Equifax FICO scores from myfico. Of course, there are several different versions of FICO scores, and the one your lender uses could be different than the one you get from Discover or Experian's. And a lender may report updates to different bureaus at different times. Hello everyone! Not too long ago I made a post about my cobalt application being denied despite my Equifax credit score being 793. Delinquencies reported on a loan reported on one credit report, but not the others, is the most common reason why you’ll see wide credit score. As your score climbs through and above this range, you can benefit from the increased freedom and flexibility healthy credit brings. 0 vs FICO 8 credit score comparison charts for TransUnion, Experian, and Equifax with my credit scores. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you'll see wide credit score. TransUnion uses the VantageScore ® credit scoring model to calculate your credit score. FICO scores range from 300 to 850, while the industry-specified standards can range anywhere from 250 to 900. 0 and 4. When you log into your Credit Karma account, you can access your free credit reports and scores from both TransUnion and Equifax. But industry-focused FICO ® Scores range from 250 to 900, and VantageScores 1. Credit mix: 10%. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you’ll see wide credit score. Finally, let’s address what might be the most frightening reason for a drop in credit scores: Someone could have stolen your identity and applied for (and opened) credit accounts in your name. 8/5 (74 votes) . Why is my Equifax score so low? Your Equifax score is lower than the other credit scores because there is a slight difference in what is reported to each credit agency and each one uses a slightly different method to score your data. If you have many recent inquiries, lenders may assume that you are having financial problems. They use different formulas to calculate your credit score. Why is Equifax lower than TransUnion? The lower Equifax number is a common concern for many people. Why is my Equifax score lower than FICO? Asked by: Miss Megane Kuphal Jr. 4/5 ( 61 votes ) Your Equifax score is lower than the other scores because there is a slight difference in what is reported to each credit agency and each one uses a slightly different method to score your system. The reason that this score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data. One of which is that they use different algorithms to calculate your credit score. 95 a year and eCredable LiftLocker for $9. 0 is relied on by lenders across a variety of industries. TransUnion. The most common scores range from 300 points to 850 points. This factor can affect your credit scores even if you pay your credit cards off in full each month. This is one of the least forgiving bureaus because much more weight is assigned to your payment history and the average age of your credit accounts. Why is my TransUnion score lower? Your credit scores are calculated using information in your credit reports, so it's normal to see your score change as lenders provide updates to that information. The scores currently showing on my credit karma account are 720/723 for Transunion and Equifax respectively. The credit bureaus may not have the exact same information on you. The other two only report the name of your employer and do not add any weight to that fact. 0 based on my TransUnion credit. Some lenders only report to Experian or Equifax. 0 Kudos. Each company has its own method of collecting financial information. That’s because the lender may be using a FICO score based on data from a different credit bureau. com. If your credit score dropped unexpectedly, there is a reason why and your credit reports will reveal the reason. 5 reasons your FICO score may be lower than your credit score. We would like to show you a description here but the site won’t allow us. Score: 4. A FICO score of 650 is considered fair—better than poor, but less than good. I just applied for a new car loan, and - despite my published Equifax score of 780 - was surprised to be offered a rate lower than the rate reserved for "excellent" credit. Below are three VantageScore 3. TransUnion is bringing up the rear among the three. Q: I just checked my credit score and my TransUnion score is 20 points lower than the others. I wouldn't doubt if my EX score was 100 points lower than my TU or EQ scores. I haven't yet gotten a FICO on my EX report, but I know my EX report has a ton of other accounts on it and all my HPs from the last 24 months. For example, Experian puts a 35% emphasis on your payment history, whereas TransUnion puts a 40% emphasis on this category. As the information on your reports directly impacts your credit score, it can be beneficial to check the reports and make sure everything is correct. Re: Why is Experian so much higher? @C-XRS2005 wrote: only the one was from there, the other were from myfico. While lenders use these reports and credit scores to decide whether or not to extend you credit, it leaves a lot of room. Here are some reasons a score can drop: Using more of your available credit. Depending on what your scores are, you may wonder what they mean. My relative's TransUnion score is currently in the 680s, the Experian score is in the 650s but the Equifax is only in the 620s. 0 is between 720 and 780. This is why your credit score is so important, not only for credit approval but also for things like your credit limit and the terms of the loan. Source: MyFICO. My Transunion score is in the tank though at around 567. Like all credit-reporting agencies, TransUnion and Equifax use. 0 scoring model. The information is compiled into a. If a collection shows up on Experian, but not the other two bureaus, you Experian credit score will be lower than your TransUnion and Equifax scores. Equifax 834, Transunion 900. Why is my Experian score so much lower than credit karma? This is mainly because of two reasons: For one, lenders may pull your credit from different credit bureaus, whether it is Experian, Equifax or TransUnion. The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. So, it's possible that Equifax and TransUnion could have different credit information on your reports, which could lead to your TransUnion score. Credit Karma isn’t a credit bureau, which means we don’t determine your credit scores. Why is Equifax lower than TransUnion? The lower Equifax number is a common concern for many people. . Yes, equifax and transunion from credit karma so vantage score 3. This means that there is not only a clear 200 point difference between these two bureaus but the “perfect scores” are also different, which is 1000 as reported by Experian and 1200 as reported by Equifax. TransUnion scores better than Equifax across: Plans and Pricing, Report Details and Frequency, Credit Bureau & Credit Scores, and Monitoring and Extra Features. Credit Report costs Rs. 300 to 579 (poor credit): Most lenders will reject applications from borrowers with a score in this range. A “good” score may rest in the 661 – 720 range. The main difference is Experian grades it between 0 – 1000, while Equifax grades the score between 0 – 1200. But one of the above comments is right. The lower Equifax score compared to TransUnion can be attributed to the different factors and weighting used in their credit scoring models. First, the Experian scoring model may differ from the ones used by TransUnion and Equifax. So, if you have a $4,000 credit limit, your balance should remain below $1,200. Experian. 9/5 ( 64 votes ) Your payment history on loan and credit accounts can play a prominent role in calculating credit scores; depending on the scoring model used, even one late payment on a credit card account or loan can result in a decrease. Not all lenders report to the other two. Here are five main factors that affect your credit scores: Payment history, or whether you pay your credit accounts on time, makes up about 35% of the typical credit score. 5. Equifax offers a variety of credit monitoring services priced from $4. FTC's website on credit. These are things like lates and collections and. “Late” generally means at least 30 days after the due date. 0 scoring model. 10% types of accounts, known as credit mix. One of the most evident differences between these two bureaus is that Equifax scores range from 280 to 850, but TransUnion scores range from 300 to 850. The Bottom Line. TU (900) still has me as a student. Transunion Vs. 6 Their services allow you to monitor your VantageScore credit score but not your FICO score. So if Equifax has access to different information about your credit than TransUnion, your scores from each of the bureaus might also be different. 0 scores. If a collection shows up on Experian, but not the other two bureaus, you Experian credit score will be lower than your TransUnion and Equifax scores. If you plan on applying for credit, make sure to check your FICO Score since there’s. A few hours later, my Equifax Vantage Score 3. In my experience, equifax is always lower than Transunion (mine is 40-50 points lower last I checked) Two different companies with two different products and methods of coming up with scores. Credit bureau: Credit scores are calculated using data listed on your credit report, which comes from one of the three major credit bureaus — Experian, Equifax or TransUnion. They are two different companies that offer two different, albeit similar, products. The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. The other two only report the name of your employer and do not add any weight to that fact. A few inquiries a year is normal, but may cause a temporary drop in your credit score. Both FICO and VantageScore assign higher credit scores to consumers deemed as lower-risk borrowers, and both currently range from 300 to 850. This could lead to a person having a relatively lower score on Experian compared to the two other bureaus. Experian says it would be “unusual” if your credit scores align. TransUnion offers a similar product to Experian Boost. VantageScore uses three different credit bureaus — Experian, Equifax, and TransUnion — to compete against FICO, and each bureau uses different algorithms. Why is my TransUnion score so much lower than Equifax? The credit bureaus may have different information. in 2020 TU was ~40 lower than my EQ and ~30 lower than my EX. You have different credit scores, so your other credit score might be higher, or lower, than the TransUnion score you see on Credit. Equifax and Transunion use FICO 04 models for mortgage scores (309-839 and 334-818). Re: Transunion credit score is 35+ points lower than Experian and Equifax scores. No searches, no defaults no nothing. 0 on Credit Karma will likely be different from your FICO Score that lenders often use. A higher score means lower risk and vice versa. Everyone’s ability to interpret information differently just makes it nebulous and less than useful for the consumer. Second, Experian considers a different. Equifax®: Which Score Matters More? Victoria Araj 6-Minute Read UPDATED: October 30, 2023 The look of your credit score can be. Why is my TransUnion score so low? There are two main reasons why credit scores for the same consumer can vary by more than a few points: Differences in the information on file at the three major credit bureaus – Equifax, Experian and TransUnion. Credit score range. S. You are accessing the "consumer" credit report. Lenders like to see that the outstanding total balance on your credit cards is below 30% of what you have available. Generally, the credit bureaus collect information from different sources and have their own scoring model. Of course, getting at or close to 0% is best. This purchase is only good for a one-time view. Applied for multiple lines of credit. Recently got a credit check for a mortgage and the Equifax score was 700, much lower than expected. Can be off by up to 100 points —causing you to under or overestimate your creditworthiness. Equifax Equifax scores range from 280 to 850. Experian is one of the three major credit bureaus, along with Equifax and TransUnion. 0 and 2. It was developed by the three major consumer credit bureaus — Equifax, Experian and TransUnion — to create a “more predictive scoring model that is easy to understand. Multiple late payments matter more. In general, good credit scores can make it easier and cheaper to borrow than low credit scores. Higher scores mean you have demonstrated responsible credit behavior in the past, which may make potential lenders and creditors more confident when evaluating a request for credit. Your score — along with other. When people obtain their credit score through Transunion and Equifax, they are often surprised to see a different credit score from each bureau. If your credit score dropped unexpectedly, there is a reason why and your credit reports will reveal the reason. We would like to show you a description here but the site won’t allow us. You can find the contact information under the account details section of your credit report. On the other hand, TransUnion’s CreditVision Risk Score looks at data over the past 24 months. TransUnion 30%. Even then with the different algorithms, the variance between the two scores should be between 7-10% or even less . When a lender runs your credit, they’ll usually see your three FICO. 0, which Credit Karma uses. 95 a year and eCredable LiftLocker for $9. TU (900) still has me as a student. The higher a score is on this scale, the better indication that the consumer poses a lower risk to creditors. Experian should give you the negative reason codes that are holding or suppressing your scores if you click on your FICO8 score. Would these all be the same? Not necessarily. FICO is a risk score calculated based on your debt history; there are at least 40 different. Your score can then differ based on what bureau your credit report is pulled from since they don't all receive the same information about your credit accounts. Since the information on your credit reports at each bureau can differ, your Equifax credit score and FICO score can differ depending on which credit report is used to calculate the score. Why is my Credit Karma score higher than my actual score? This is mainly because of two reasons: For one, lenders may pull your credit from different credit bureaus, whether it is Experian, Equifax or TransUnion. These are FICO 8 scores. Equifax 802, Transunion 848, Experian 839. Hello - I'm using CreditKarma to monitor my credit, for over a month now my credit scores have differed by nearly 100 points. Experian: 715Score: 4. Both range from 300 to 900, which is the credit score range in Canada. 550. No disputes, no reason to cause them to be removed. 0 scores from TransUnion and Equifax. I thought it would help me get a good. If all is well, each agency should have all of your information identically. I have 596 Exp and 670 with the other 2. Credit bureaus are companies that collect consumer credit information. Equifax Any site that compares numbers and does a bunch of data-crunching will probably have their. Vantage scores are fickle things, anything could make the score change, heck the weather might affect for all I know. We’ll be covering that in greater detail below. The score from Experian is FICO 08 scored as well. Yes. Why is my Experian score 100 points higher than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. Score: 4. My Experian is looking pretty tidy. For instance, Equifax uses a scoring model known as the Equifax Credit Score, while TransUnion uses a scoring model known as the. Another invisible difference between these agencies is the data collected. Why is Experian score lower than TransUnion and Equifax? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. 0 credit score was lowered by 72 points. And a lender may report updates to different bureaus at different times. New credit: 10%. Dispute directly with the company that reported the information to TransUnion. Thanks in advance, L C BMW pulled a 540 experian for me while USAA and capital one. FICO credit scores have the following ranges: Below 580 = Poor. What a credit bureau is. In contrast, TransUnion offers a free plan, as well as a subscription plan that costs $24. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you'll see wide credit score. And only recently did we start reporting to Experian. The other two only report the name of your employer and do not add any weight to that fact. Each of the three nationwide consumer reporting agencies (Equifax, TransUnion and Experian) might include different reported information such as your current credit limits and account balances, as well as information on certain public records like a bankruptcy. If your credit file is different with each credit bureau, then your credit score might be different as well. ClearScore gets your credit score and report from Equifax. But remmember too that those scores are only about 7% apart. Legally you are entitled to request a credit report from Transunion and Equifax one time a year. Re: Transunion credit score is 35+ points lower than Experian and Equifax scores. And a lender may report updates to different bureaus at different times. Financial experts typically recommend that your credit usage is below 30 percent of your credit availability. Equifax: why are my credit scores different? Your scores might be different on your Equifax and TransUnion credit reports. On top of that, these credit reporting agencies use different scoring models to produce credit scores. 99, you can view your Experian, Equifax, and TransUnion credit report as well as your FICO credit score. Why is my Equifax score lower than TransUnion? The credit bureaus may have different information. 3/5 ( 60 votes ) The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. Experian 76%. Experian is often a way better monitoring system based on their record keeping. Score: 4. Your score can then differ based on what bureau your credit report is pulled from since they don't all receive the same information about. And less accurate for the lender ultimately. This is because individual consumer reporting agencies, credit scoring companies, lenders and creditors may use slightly different formulas to calculate your credit scores. Score differences are very common and are usually the result of small variations of when information is reported and how it is weighted . It's also the least friendly to those just starting out building credit. My Equifax (from Borrowell) is consistently 80-100 points lower than my TransUnion score (from CreditKarma/BMO), despite both reports showing the same credit accounts, inquiries and lack of collections or other negative items. One or more of your lenders aren't reporting to Transunion. Credit score range. JUST NOW I ran my credit reports from all three agencies -- Experian, Equifax, Transunion. Multiple factors could account for why your scores are different. I have 755 with Transunion, and 646 with Equifax. Good Morning, Apologizing in advance if this question has been asked previously. So here is my situation: In August 2010, I bought a house at lower 300K and paid 10%+ down, thus having PMI over $100+/month. Your Equifax score can be lower than your TransUnion score for a variety of reasons. We’ll explain what a credit bureau is, why Experian, Equifax, and TransUnion show different scores, if one bureau’s score matters more than the others, and ways to improve or build your credit score. And a lender may report updates to different bureaus at different times. Your score can then differ based on what bureau your credit report is pulled from since they don't all receive the same information. Valued Member. It could be because of a high reported balance on a credit card account, a new application for credit, or a sign of identity theft. The above actions will provide the necessary details needed by TransUnion to recalculate your score using your new address details. In addition, TransUnion reports your employment history and personal information. On Credit Karma you’ll see scores and reports from TransUnion and Equifax, both using the VantageScore 3. Equifax comparison, both rely on some of. That’s the highest factor percentage, which means it’s critical to pay bills on time with no exceptions. But at my credit union, I have access to two different score models. It falls below the national average FICO ® Score of 710, and solidly within the fair score range of 580 to 669. 0 scoring model. These factors are likely to yield different credit scores, even if your credit reports are. Like, TransUnion and Equifax both get told about all your credit lines and debts, so they should both have all that data. First, a CK score is a VS score (not a FICO score) so it's unmeaningful and shouldn't be worried about. This includes an. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you'll see wide credit score. Re: Why is my Equifax so low. Why is my Equifax score lower than TransUnion? The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. My Transunion scores have always been the highest of the three. 0 is between 720 and 780. In my experiance, they seem to be more up to date on your payment history, but not your balance. Score: 4. 5 / 5 - Excellent #1 in Credit Reporting. Differences in credit scoring formulas. Equifax and TransUnion have access to different. 590 on Experian, 651 on Transunion, exact same information for both. 0 on Credit Karma will likely be different from your FICO Score that lenders often use. 0 scores. It is normal for there to be a difference among your scores because of what goes in to calculating them, and it is normal for your Equifax and Transunion scores to be more similar than Experian because Experian FICO 2 is the 1998 version while both Transunion FICO 4 and Equifax FICO 5 are the 2004 version. 0 and 2. Equifax, meanwhile, uses its own scoring model with a range of 280 – 850, with “good” being 670 – 739 and higher. Fiance's scores are 770 and 760 for Equifax and TransUnion respectively. Each company has its own method of collecting financial information about you, and the. ”. ). However, interest rates will be higher, and the loan amounts will often be lower. But at my credit union, I have access to two different score models. Theyll likely be slightly different, and its possible they could be very different. Why is Equifax lower than TransUnion? The lower Equifax number is a common concern for many people. Find The Best Credit Reporting. FICO provides a single-number credit score, while major credit bureaus like Equifax, Experian, and TransUnion (not covered in this article) offer a more detailed look at an. A “good” score may rest in the 661 – 720 range. If you have any credit accounts, such as credit cards or loans, you have a credit report. One of the scoring models that TransUnion uses to calculate credit scores is VantageScore® 3. It's just a list of your current outstanding loans, and if you're in good standing with them. For more information please visit us at and book an appointment today. Length of credit history: 15%. Hi, I use Credit Karma. Even though the precise number of the ranges might vary, in practice, the differences aren't major: The higher your credit score, the better. By law,. Inquiries stay on your credit report for. 1. The reason that this score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data. Chase favors Experian, but may also buy Equifax or TransUnion reports. Can be significantly different than your FICO Scores. A good score with TransUnion and VantageScore® 3. Taking a 290K loan, I have been paying $1900/month for almost 1. Mostly just confused why the transunion would have gone down regardless of the model used. Very good: 740 to 799. The scores may have different interpretations, a 600 from Equifax may be equivalent to a 700 from TransUnion. Borrowell pulls data from Equifax and CreditKarma pulls data from TransUnion. Therefore, there are other reasons why the numbers. What a credit bureau is. Just follow the general advice given to you and you'll be fine (pay all your bills on time, keep utilization low, let credit age, open various types of loans, etc. FICO is a separate product issued by a separate company. This means that there is not only a clear 200 point difference between these two bureaus but the “perfect scores” are also different, which is 1000 as reported by Experian and 1200 as reported by Equifax. If you’re wondering why your Experian score is lower, you’re in the right place. The other two only report the name of your employer and do not add any weight to that fact. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus. Is there a specific reason for this? A: The reason your credit scores are different from each other is because of the different information that the credit bureaus have about you. TransUnion is bringing up the rear among the three. It however is still being marked as an open collections account. Most lenders (at least in the midwest) pull their reports from Equifax and almost all of them report to Equifax, which is why it tends to be the lowest of the three. 590 on Experian, 651 on Transunion, exact same information for both. Mostly just confused why the transunion would have gone down regardless of the model used. This may be a silly question but how come my Experian score is so much more different than my Equifax and Transunion scores? I get that they vary a little depending on the credit reporting company but my Experian score is drastically lower than the other two and I'm not sure why. Each credit bureau will have a different credit score for each individual. . Similarly to. Consumers. I have been watching my score with Credit Karma and just checked by paying Equifax, and my EQ is 81 points lower. The main difference is Experian grades it between 0 – 1000, while Equifax grades the score between 0 – 1200. In general, the higher your score, the better your chances of getting approved for credit cards or loans with more favorable terms, including lower interest rates and fees. On top of that, these credit reporting agencies use different scoring models to produce credit scores. In a Nutshell. Under the menu, click on “free credit score”.