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Just got my first credit report - Experian score 78 points lower than Equifax?...

bszelda 1,961 348 May 15, 2013 at 09:32 PM
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Hi all, I'm new to the world of credit and I just got my first 3 reports online via annual credit report. My Equifax and Transunion scores appear to be in the avg range which is good considering I only have student loans in deferral on my credit history. I graduated from a private 4 year institution last year and have had the loans on deferral since the 6 month grace period ended.

Is it normal for Experian scores to be 70+ points lower than the other two scores? My mom says that my Equifax and Transunion scores are very good for not really having any credit history whatsoever. I may look into paying some interest on my loans for now so that they don't compound so much and maybe look into getting a credit card to start up some kind of credit. Stick Out Tongue

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#2
Yes, it's normal. There is such a difference between your scores because there are three different credit bureaus who each have their own scoring models.

Experian's credit scoring model ranges from 330 to 830, Equifax's model ranges from 280 to 850, and TransUnion's model ranges from 300 to 850.

Your FICO score is based on a model that ranges from 300 to 850. This is the scoring model and score most lenders use. Only myFICO.com and Equifax sell FICO scores to customers.

With all of that said, you should pull all three of your credit reports just to make sure there are no errors on any of them that might be further contributing to the discrepancy in scores. You can pull all three of your reports for free from annualcreditreport.com [annualcreditreport.com].
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Last edited by Brian1 May 15, 2013 at 10:07 PM
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#3
Quote from Brian1 View Post :
Yes, it's normal. There is such a difference between your scores because you purchased scores from three different companies using three different scoring models.

Experian's credit scoring model ranges from 330 to 830, Equifax's model ranges from 280 to 850, and TransUnion's model ranges from 300 to 850.

Your FICO score is based on a model that ranges from 300 to 850. This is the scoring model and score most lenders use. Only myFICO.com and Equifax sell FICO scores to customers.

With all of that said, you should pull all three of your credit reports just to make sure there are no errors on any of them that might be further contributing to the discrepancy in scores. You can pull all three of your reports for free from annualcreditreport.com [annualcreditreport.com].
I already got all 3 reports and I also decided to purchase the 3 different scores just to have them. From my understanding, Experian uses their VantageScore report. It says that it ranges from 501 to 990. Looking between the 3 different reports, it looks like everything matches in terms of the accounts but it seems that the Experian score is fairly lower than the other two (D rating on Experian compared to Average scores for the other two).

My mom is just frustrated for me that there is such a large difference in the scores but I guess they do use different scoring systems. It just seems like the Experian score should be a C to match the other two scores.
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#4
Quote from bszelda View Post :
I already got all 3 reports and I also decided to purchase the 3 different scores just to have them. From my understanding, Experian uses their VantageScore report. It says that it ranges from 501 to 990. Looking between the 3 different reports, it looks like everything matches in terms of the accounts but it seems that the Experian score is fairly lower than the other two (D rating on Experian compared to Average scores for the other two).

My mom is just frustrated for me that there is such a large difference in the scores but I guess they do use different scoring systems. It just seems like the Experian score should be a C to match the other two scores.
In your OP, you mentioned you've already gotten all three reports, I read it, and I still suggested you get all three of your reports - sorry for the mistake and confusion.

If you did, in fact, get a Vantagescore from Experian instead of their own score using their scoring model then, yes, you're right, it does range from 501 to 990. But, regardless, the discrepancy comes from getting scores from three different scoring models.

Concerning getting a credit card to help your credit score, are you a member of a credit union?
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#5
Also keep in mind, not every creditor reports to all 3 bureau's "equally". It's possible you could have a collection, or an account showing a late payment only on your Experian that is bringing it down as well.
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Quote from bszelda View Post :
I already got all 3 reports and I also decided to purchase the 3 different scores just to have them. From my understanding, Experian uses their VantageScore report. It says that it ranges from 501 to 990. Looking between the 3 different reports, it looks like everything matches in terms of the accounts but it seems that the Experian score is fairly lower than the other two (D rating on Experian compared to Average scores for the other two).

My mom is just frustrated for me that there is such a large difference in the scores but I guess they do use different scoring systems. It just seems like the Experian score should be a C to match the other two scores.
You can't buy an Experian score. It is only obtained from a lender.
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Quote from travbrw View Post :
You can't buy an Experian score. It is only obtained from a lender.
Well whatever the score is that I purchased. I think it's called Vantage Score.
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