Bad Credit Agency

Do different credit agencies give out different FICO scores? Which is right?

Do different credit agencies have different FICO scores for the same individual? If so, which FICO score is the one that the financial industry uses to evaluate you?

Public Comments

1. Each of the credit reporting agencies have their own proprietary scores. They have algorithms that evaluate your credit history to determine a score. If you pull a three bureau report, you'll see that they are all within 20 points of each other. FICO is the Transunion score, Equifax uses a Beacon Score, and I am drawing a blank on the Experian scoring product.
2. Each of the three credit bureaus (TransUnion, Equifax, and Experian) are given different info. Some of your accounts will report to 2 and not the 3rd or will only report to 1. Different banks will use different bureaus. There is not one that is "right", they are all correct for the info they have. You need to make sure that each one has the right info.
3. Yes, all three will calculate a different score -- FICO, Beacon, Emperica and, in new in 2006, Vantage (offered by Experian that gives aboth a numerical and a letter score). If you're applying for a mortgage or a car loan, they pull a tri-merged report and look at an average score and go with that. If you're applying for a credit card, one score is used and it's from whichever service they subscribe to.
4. yes
5. There are 3 credit bureaus that report your credit history. Experian, Equifax, and TransUnion. They all have separate FICO scores and do vary. They are all correct b/c the financial industry uses all of them. The reason they differ is b/c not every company reports to each of them, so that is why you may see conflicting accounts.