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 Posted: Mon Mar 24, 2008 3:05 pm Subject: FICO Score |
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Hi,
My fico score is 50 points lower than the rest of the 3 credit bureas, is this normal?
Thanks
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waterlu3
Joined: 02 Oct 2007
Posts: 23
Debtcc Points: 7
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| Posted: Tue Mar 25, 2008 12:03 am Subject: |
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Hi waterlu, the scores that you obtain form the different credit bureaus are likely to vary as they all use their own blend of determinants while computing the score.
This is also because that the lenders don't report to all the 3 credit bureaus together.
However, I don't feel that you've any reason to panic right at this moment, but if the difference widen further then may need to report it back to the particular agency. Just keep an eye on it.
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tweetyturner
Joined: 11 Mar 2008
Posts: 279
Debtcc Points: 3264
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| Posted: Tue Mar 25, 2008 12:52 am Subject: |
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Hello waterlu3
Tweety is rite, as all your creditors do not report to a single bureau,the information the three bureau will have in their files will differ from one another. In my opinion u should keep a watch on your reports regularly and keep a watch on any error.
Nelly
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goodnelly
Debt Samaritan
Joined: 20 Jun 2007
Posts: 634
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| Posted: Tue Mar 25, 2008 5:11 am Subject: |
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When I pulled the report from all 3 credit bureas through true credit they are within 10 points of each other. Perhaps I don't understand FICO scoring? Thats why I was concerned that the FICO is a 50 point difference.
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Guest
Debtcc Points: 100
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| Posted: Tue Mar 25, 2008 12:46 pm Subject: |
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FICO is the only score to concern yourself with, not vantagescore, etc... IMO, these scores are created with the sole purpose of selling a service to consumers (even though at present, it is meaningless).
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Morningstar
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Joined: 06 Feb 2007
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| Posted: Tue Mar 25, 2008 4:11 pm Subject: |
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I'm less than really concerned about my FICO score... At the moment, I'm using TrueCredit, at least until a more cost-effective product happens by. I'm not really concerned with what the score is. I'm more concerned with having a baseline in order to track changes over time. Daily report updates can be handy, too.
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unclewulf
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