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Author Topic: Why is my Experian score so much lower than other two?  (Read 7307 times)

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tedlee

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Why is my Experian score so much lower than other two?
« on: March 17, 2009 03:41:01 PM »
My Experian score is 44 pts lower than Equifax and 80 pts lower than TU.

Why such a huge spread?  do you think.





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DefLepGirl

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Re: Why is my Experian score so much lower than other two?
« Reply #1 on: March 17, 2009 04:34:07 PM »
Tedlee~

If this is an 'online' score .... those are rarely accurate.....  If I remember correctly mine were off by 70-90 points when I first started my "journey" and worried about my score on a daily basis.....

Take a look at all of your reports HARD COPIES...... not online versions.....

See if the information matches up..... (IE) Does this report have ABC collections on it... and does this reports "reporting" match the other two.....

It could be something as simple as a ca reported to one -and- not the other CRA's.....  OR you could have an OC that is reporting to your two other CR's giving you history etc. etc.

Important things to look for on your report..

Utilization (keep it under 30%)
History  (How old are your accounts)  The older the better-
Credit Pulls - Try to limit these as they do *ding* you a few points
Collections-  ----MAKE SURE THEY ARE REPORTING CORRECTLY----
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~I'm not an attorney (nor) do I play one on the internet.. Take everything I *write* as just my personal opinion and experience~

I love quoting Fleppie / Deflepgirl -  E. Normis  (Ok he actually didn't say it but actions speak louder than words..... or in this case words speak louder oooh whatever he loves it!-

tedlee

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Re: Why is my Experian score so much lower than other two?
« Reply #2 on: March 17, 2009 04:48:12 PM »

Thanks!


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Pablo

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Re: Why is my Experian score so much lower than other two?
« Reply #3 on: March 21, 2009 03:00:35 AM »
Quote from: tedlee on March 17, 2009   03:41:01 PM
My Experian score is 44 pts lower than Equifax and 80 pts lower than TU.

Why such a huge spread?  do you think.

I also would like to add to what was said.  When I requested my reported (hard copies) I noticed that EFX & EXP have their scores with a score range of 300--850 (or so).  However TUN was MUCH higher: from 501--990.  So you see TUN has a difference of 201 for the lowest score & 140 for the highest score.  It's best to do percentages with each score (IE 600/850, 700/990) to see how they compare.  As DefLepGirl said take your CCR side-by-side see what EXP is only reporting (perhaps there are MORE collection accounts) than TUN or EFX CCR.  Compare and contrast each report and see what's different about EXP report: i.e. more inquires?, more collections?, some inaccurate reporting information?  Take care :).
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"Another day, another life / To feed with all that I call mine / Is what it takes, so I go out tonight / Shining lights of crossing cars / An open sky, a million stars / They open up my eyes and this is just because / I feel, I feel so alive"  ~ "Feel Alive" - ATB

tedlee

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Re: Why is my Experian score so much lower than other two?
« Reply #4 on: March 21, 2009 02:56:01 PM »

Thanks, Pablo

What's with the range? 

I just received the letter for the denied refi, and this is the first I've ever noticed a range for the scores -- mine right now are: Eq 300-850; Exp 360-840; TU 336-843.

thanks in advance.


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itsmeagain

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Re: Why is my Experian score so much lower than other two?
« Reply #5 on: March 21, 2009 04:48:12 PM »
Ted, I'm not sure where Pablo is getting his score information from but I frequent a board known as FICO Forum  http://ficoforums.myfico.com/fico/.  They have regular members and moderators who are part of the "Fair Issac" team who developed and maintain the true FICO scoring information.  I suggest you post your question there and let an expert respond.  Here is a link to one of their great posts "Credit Scoring 101 - START HERE".  http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=29793

Hope this helps    :drinking:

Modified to add the following from the article mentioned above

From "Credit Scoring 101"

Quote
What is the range of FICO scores?

FICO (aka Classic or BEACON) scores can range from 300 to 850, but the majority of scores usually fall within the 600s and 700s.
« Last Edit: March 21, 2009 04:51:26 PM by itsmeagain »
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Mischievous Smurfy

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Re: Why is my Experian score so much lower than other two?
« Reply #6 on: March 21, 2009 09:00:42 PM »
Well therein likely lies the problem ...  there is only one FICO and you don't get that from each CRA ... the score you get at each CRA is their own spin on FICO.   Although FICO did assist in the development of each CRAs scoring system none of them is the real McCoy.

This is why you score from a CRA will vary even IF the respective reports were identical, and they never are.
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why are we requesting validation instead of disputing???  Why Why Why

Pablo

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Re: Why is my Experian score so much lower than other two?
« Reply #7 on: March 21, 2009 09:43:35 PM »
To itsmeagain, & smurfy: Sorry for confusion.  Yes, itsmeagain, the hard copies of EXP and EFX that I have refer to the FICO scores which are in the range that were stated.  However when TUN sent me the hard copy of their report with my credit score it was in the range that I stated above.  They didn't refer to FICO at all.

To tedlee: Whenever you do a loan (or something to do with the bank) sometimes they have their own spin on your credit score as smurfy was saying.  They may take into account, for example, your income-to-debt ratio (the amount of money owed & the amount of your assests (yearly income, etc)) whereas the CRAs don't know that information. 
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"Another day, another life / To feed with all that I call mine / Is what it takes, so I go out tonight / Shining lights of crossing cars / An open sky, a million stars / They open up my eyes and this is just because / I feel, I feel so alive"  ~ "Feel Alive" - ATB

DefLepGirl

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Re: Why is my Experian score so much lower than other two?
« Reply #8 on: March 21, 2009 10:52:41 PM »
Quote from: Pablo on March 21, 2009   09:43:35 PM
your income-to-debt ratio (the amount of money owed & the amount of your assests (yearly income, etc)) whereas the CRAs don't know that information. 

   :vbdoh:    Well that explains why I didn't get the yacht..... oi......
« Last Edit: March 21, 2009 10:54:49 PM by DefLepGirl »
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~I'm not an attorney (nor) do I play one on the internet.. Take everything I *write* as just my personal opinion and experience~

I love quoting Fleppie / Deflepgirl -  E. Normis  (Ok he actually didn't say it but actions speak louder than words..... or in this case words speak louder oooh whatever he loves it!-

Pablo

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Re: Why is my Experian score so much lower than other two?
« Reply #9 on: March 26, 2009 12:42:03 AM »
Quote from: DefLepGirl on March 21, 2009   10:52:41 PM
   :vbdoh:    Well that explains why I didn't get the yacht..... oi......

Thanks for calling me an idiot.  Good day to you, too :P
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"Another day, another life / To feed with all that I call mine / Is what it takes, so I go out tonight / Shining lights of crossing cars / An open sky, a million stars / They open up my eyes and this is just because / I feel, I feel so alive"  ~ "Feel Alive" - ATB
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