Members please help get the word out and post here plenty so this thread stays up top. I still see numerous refences to Experian and Transunion scores. THE SCORES FROM THE EXPERIAN AND TRANSUNION WEBSITE ARE NOT REAL BEACON/EMPIRICA SCORES AND ARE OF NO VALUE BEING THAT THEY ARE NOT USED BY ANY LENDER! EQUIFAX SELLS THE ONLY REAL CREDIT SCORE! Exp and TU simply came up with an in-house scoring program for marketing puposes to promote the sale of their credit reports due to the decrease for consumer demand 0f their reports since the release of Eq Score Power last year. The Experian website even states that they only consider 6 of the many factors in the profile that lenders use. I have seen numerous posts saying I got approved with an Experian ..... which has absolutely no relevence to the approval and is confusing to other members. The only valid score generated from a Transunion or Experian report would be from a Mortgage broker or other lender.
then how is it i have credit cards and the inquiry that got them only shows on experian? or my cell phone? another experian inquiry.
Big, You're right, and it will be apparent to someone who reads the EX & TU disclosures carefully. EQF provides the most widely used BEACON, but the others should not be discounted, as they assess an individual's credit risk level as well. Some lenders choose the middle score or the average score. Others use an automated system to dial in to the CRAs. They pull your report from the # that goes through first.
Quote: then how is it i have credit cards and the inquiry that got them only shows on experian? or my cell phone? another experian inquiry. I didn't say the exp credit report is invalid, I only said that the score from their website is invalid. Your creditors generated a seperate score from the Experian report which is not at all the same score that they post on their website,
That completely makes sense! I purchased a truck last week and the DEALER pulled a TU report and said the score was 718, I received a copy of TU that day and it said 684. Then the dealer put Ford on the phone w/me to ask about my Honda loan, I told them it was reported correctly on EQ, not correct on EXp and not even ON my TU. Ford said it wasn't on ANY of my reports. They pulled a SOFT on EXP and EQU, but a hard on TU. My Honda shows late on EXp and never late on EQU. HOWEVER, TU just recently changed my (origianlly reported R9) Cap One from an R5 (that Mr Cooke changed BACK to an R9, make sense? I got denied for Chase because of this!!!
This is what I have found out that TU Emperica ranges anywhere from 20 to 60 points higher than the Trans Union Score. The TRW/EX fico score ranges from 10-20 points lower than CE/EX online score. I also believe that Eq Fico ranges higher as well but have not been able to concusively prove this one. Hope this helps! Cypri
Over the last month that I have been here, there has been some confusion on that issue. I would have to say this is on point. When I pulled my scores, only EXQ took me straight to the FICO site. I am in in Atlanta and 9 out of 10 lenders are going to pull that report so all of my recent efforts have been cleaning up that report. In reality only a few lender are going to even pull 2 let alone 3 reports. In a nutshell score or no score the less derogs you have the better you are period. As for that other stuff debt to ratio....it changes daily!
I agree, Rina, because my mortgage lender told us that is how our loan was approved, by taking the middle average of all three scores. So, if the score that is shown on the TU and EXP websites are not the "TRUE" scores, how would we find out what they are?
I think that this is in reference to the "simulator" score. If you notice your score jumps 20-30 points when you go into the simulator and it only gives you the six factors to modify. I think that there are more factors making up your "Credit Expert Score". Although you are 100% right that neither this score or the TU score are FICO. I still think that they are somewhat valuable. They give you a reference to how your repair is going. I know that my TU score of 876 is not FICO, but I'm going to guess that my FICO TU is at least over 700.
Ask your mortgage lender for a copy of the tri-merge that they pulled. They shouldn't have a problem giving it to you. So far, the only way I've found to get your FICO of TU and EX is by way of a hard inquiry from a lender or mortgage broker.
