Can anyone explain this? Why is my CreditExpert score on the Experian site 581 and the CreditExpert score I got from E-Loans site today 617? Are there 2 CreditExpert companies? How can the same company be reporting a 36 point difference on the same day. I gueass a positive way of looking at this, is that I believe the higher is more accurate. I recently received my Experian score through a broker and it was higher than the score on Experian's site. Can this POSSIBLY be any more of a sham.
Look closer - E-loan uses "CreditXpert," while Experian's service is "CreditExpert ". I hear that the former, CreditXpert, is based on the Equifax score. As for Experian's CreditExpert score, here's a nice quote from Christine Baker of bayhouse.com: Bottom line: I would order a real FICO score directly from Equifax or TU.
I didn't even catch that. The CreditXpert from E-Loans is clearly using data from the Experian report. So the score Experian sells to customers is different from the score lenders see?
That would be my guess. From what I understand, TU used to do the same thing. They now sell FICO scores, like Equifax.
Apparently, most lenders have their own "scoring formula" using the data on your report. IMO the "scores" from the CRAs should just be as a guideline for tracking your progress. HTH
Apparently, most lenders have their own "scoring formula" using the data on your report. IMO the "scores" from the CRAs should just be as a guideline for tracking your progress. HTH
I just signed up for the 30-day free trial of CreditExpert on Monday. After three days, I am bored and unsatisfied. The advertising sounds great "Unlimited access to your CR & score". Isn't is supposed to be updated daily? I do see that an investigation is still pending on a judgement I'm disputing, but thats it. Maybe its me...maybe I just have NO patience. LOL!
"Apparently, most lenders have their own "scoring formula" using the data on your report. IMO the "scores" from the CRAs should just be as a guideline for tracking your progress." That's what they want you to believe. Bottom line is it's not true. I have applied for a mortgage through four brokers recently. All pulled my score and ran it through the Fannie Mae electronic underwriting system (Loan Prospector) If the electronic system doesn't like the scores, you'll never make it to a lender.
It is updated daily...what else would you like the site to do...at least they can provide an unlimited service without splitting your file...unlike EQ...
