Why do credit scores differ between bureaus or where you pull a credit report?
Scores can differ between bureaus because our creditors are not required to report to any or all bureaus. Some smaller creditors only choose to subscribe and report a consumers credit information to 1 or 2 bureaus. Where as most major creditors report to all 3 bureaus.
Scores will also differ depending where you retrieve the report, specifically bewteen lenders and consumer websites..Scores can vary between the following:
SOFTWARE FICO-most widely used int eh lending industry whena consumer is applying for credit. The FICO score range is from 300 to 850..FICO has 5 variables to calcuate the scores...
VANTAGE scores are most widely retrieved from the internet..This is typically tghe score most soncumers willfind doing their own research. VANTAGE scores range from 501-990. VANTAGE has 6 variables used in calculating the scores.
INDUSTRY credit scores from the lending industry will also be based, such as how you have paid your car loans vs how you pay your mortgage loan. If you had an auto repossession, but were never late on your mortgage; your mortgage industry score may be higher than if you never had a late on your auto, but had lates on your mortgage.
The only true way to see a true FICO lender score is to have your lender pull a report. The internet VANTAGE score will be inflated by 1-5- points and can be misleading.
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