We are Indianapolis’s only Licensed, Bonded & Insured full service credit consulting company, InCreditable Advisors, give us a call today and let us help you improve your credit at 317-202-1297 to schedule your appointment today. Your credit report is a record of how you manage your money. Another invisible difference between these agencies is the data collected. TransUnion differs in credit history length. This is known as “credit utilization” or “credit usage ratio. There are two plans available: eCredable Lift for $24. Small-balance collection accounts matter less. Your VantageScore® 3. I understand that they are different companies with different algorithms so a different credit score is understandable. Not all lenders report to the other two. Credit bureaus are companies that collect consumer credit information. Why is my Equifax score lower than TransUnion? The credit bureaus may have different information. In other words, your credit utilization rate is how much of your available credit you’re using at any given time. . Most banks use FICO scores. Equifax 834, Transunion 900. Why is my Equifax so much lower than TransUnion? The lower Equifax number is a common concern for many people. 0 and 4. But, I am concerned about Equifax score and why it is so low. TU (900) still has me as a student. Why is my Experian score 100 points lower than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. And a lender may report updates to different bureaus at different times. 4. Secured credit cards may be especially helpful. 0 on Credit Karma will likely be different from your FICO Score that lenders often use. So, it's possible that Equifax and TransUnion could have different credit information on your reports, which could lead to your TransUnion score differing from your. These factors are likely to yield different credit scores, even if your credit reports are identical across the three credit. The scores and credit report information on Credit Karma come from TransUnion and Equifax, two of the three major credit bureaus. 0 and 4. g. The FICO scores are MUCH LOWER than the actual Equifax and TU scores. You can find the contact information under the account details section of your credit report. You can find the contact information under the account details section of your credit report. In fact depending on the credit bureau it can range up to 80 point difference. 0). There are also third-party credit monitoring services, such as MyFICO, Identity Guard, and LifeLock. The information is compiled into a credit file. To maximize all these scores you. Data Collected. The other two only report the name of your employer and do not add any weight to that fact. Equifax scores range from 280 to 850. Experian offers free access to credit scores and credit reports. Why is my Experian score so much lower than TransUnion and Equifax? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. The actual service level is comparable with Equifax, but the subscription price is $10 per month lower than Equifax. Differences in credit scoring formulas. 280 - 850. For auto and personal loans, banks usually ask only one of the three big credit-reporting firms — Equifax, TransUnion or Experian — for a score, Bingham said. The answer is easy. Here are five main factors that affect your credit scores: Payment history, or whether you pay your credit accounts on time, makes up about 35% of the typical credit score. 1. Along with educational articles, it offers several loan and mortgage calculators. 95 per month to $19. Gives you a better understanding of your credit and more confidence when you apply. FICO says 90 per cent of Canadian lenders use it, including major banks. Scores range from 300 (very poor) to 850 (exceptional). TransUnion and Equifax are consumer reporting agencies; what they do is collect data about you and write your credit reports which show your debt history. I have since received a letter from Amex mentioning specifically my TransUnion credit report, so I created an account on TU to see my full report as well as download Credit Karma to check my TU score (as its apparently. Updated: Aug 03, 2023 Why Your Credit Scores Can Vary So Much at Equifax, Experian, TransUnion Learn why credit scores. Why is my Equifax score lower than FICO? Asked by: Miss Megane Kuphal Jr. Your score can then differ based on what bureau your credit report is pulled from since they don't all receive the same information. Secured credit cards are a special type of card that requires a cash deposit to insure purchases made with the card. I work at a credit union and can tell you we only report to Equifax and Experian. Score differences are very common and are usually the result of small variations of when information is reported and how it is weighted . In addition, late payments remain on your Equifax credit report for seven years. And even if a lender reports your credit information to both bureaus, they may do so on different dates, meaning your credit score could be up-to-date with one bureau and out. Mostly just confused why the transunion would have gone down regardless of the model used. On Credit Karma you’ll see scores and reports from TransUnion and Equifax, both using the VantageScore 3. Length of credit history: 15%. One place to look is derogs. Experian utilizes the FICO scoring model while TransUnion scores are based on the VantageScore model. If your total credit limit across all your cards were $10,000, you’d want to keep your total balances below $3,000 to limit the negative impact on your score. Another invisible difference between these agencies is the data collected. The above actions will provide the necessary details needed by TransUnion to recalculate your score using your new address details. TransUnion is bringing up the rear among the three. The other two only report the name of your employer and do not add any weight to that fact. There are many different scoring models. Lenders also use but the Equifax score may be weighted differently. If you’re wondering why your Experian score is lower, you’re in the right place. Equifax, meanwhile, uses its own scoring model with a range of 280 – 850, with “good” being 670 – 739 and higher. If a collection shows up on Experian, but not the other two bureaus, you Experian credit score will be lower than your TransUnion and Equifax scores. Why is my TransUnion score 100 points lower than my Equifax? You might expect all of your credit reports and scores to be the same, but they are usually not. Even large deviations between credit scores from. Identity Guard. Here are the services that. Equifax is reporting nearly 100 points lower, actually updated today I see it dropped another 22 points because I. 15% length of credit history. TransUnion is bringing up the rear among the three. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus. One of the main reasons why your Equifax score may be significantly lower than your TransUnion score is because both credit bureaus use different credit scoring models to calculate your credit score. All credit-scoring agencies, including TransUnion and Equifax, use proprietary scoring models, and despite the fact that credit scores are based on similar or the same factors, such as payment history and the number of accounts in good standing, each model can weigh some of these factors in a different way. I have been watching my score with Credit Karma and just checked by paying Equifax, and my EQ is 81 points lower. Re: Why is my transunion fico so much higher. Yes, equifax and transunion from credit karma so vantage score 3. The other two only report the name of your employer and do not add any weight to that fact. The Equifax credit score model uses a numerical range between 280 and 850, and FICO score models use a range between 300 and 850. The credit bureaus may not have the exact same information on you. Equifax's different credit scoring model results in lower scores. Credit score range. You’ll have to purchase your credit score separately. An Equifax credit score is an educational credit score. For starters, Equifax and Transunion have their own proprietary algorithms, with each one assigning a different weighting to the. Each company uses their own proprietary means. Recently got a credit check for a mortgage and the Equifax score was 700, much lower than expected. For example, let's say you're going to buy a house. Each company has its own method of collecting financial information. When the scores are significantly different across bureaus, it is likely the underlying data in the credit bureaus is different and thus driving that observed score. First, a CK score is a VS score (not a FICO score) so it's unmeaningful and shouldn't be worried about. The whole credit industry is weird. A “good” score may rest in the 661 – 720 range. Of course, there are several different versions of FICO scores, and the one your lender uses could be different than the one you get from Discover or Experian's. Valued Member. Credit score of 846 out of 999. While it is possible for you to have only one credit score, it's unusual. It breaks down your credit history, management and behavior reported by lenders to the big three credit bureaus (Equifax, Experian and TransUnion) into an algorithm that creates your score. If you are a CIBC client and are using the bank’s mobile banking app, you can check your Equifax credit report for free online. Your score differs. In fact, there are several reasons why your scores from Experian, TransUnion and Equifax are typically different. They’ll likely be slightly different, and it’s possible they could be very different. Would these all be the same? Not necessarily. 300-900. Credit bureau: Credit scores are calculated using data listed on your credit report, which comes from one of the three major credit bureaus — Experian, Equifax or TransUnion. Conversely consumers with lower FICO scores at bureau "A" will likely get low FICO Scores at the other two bureaus when the underlying data is the same across the bureaus. According to the company, FICO® scores are used today by 90% of top lenders to make lending decisions. Lenders like to see that the outstanding total balance on your credit cards is below 30% of what you have available. In my experience, I've found Equifax is generally more thorough than Transunion. Credit mix: 10%. This is why your score can be so different with each one. 0 scoring model. Was the Experian score pulled by a lender? And if so, what kind of lender?Why is my Equifax score 100 points lower than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. When people obtain their credit score through Transunion and Equifax, they are often surprised to see a different credit score from each bureau. TransUnion reports I have better credit than 2/3rds of the country but Equifax says I have better credit than only 1/3rd of the country. All consumers are entitled to one free. Score: 4. On Credit Karma, my score are 797 and 806 for TransUnion and Equifax. This is because individual consumer reporting agencies, credit scoring companies, lenders and creditors may use slightly different formulas to calculate your credit scores. Both Equifax and TransUnion have scores that range between 300 and 900 in Canada. Re: Why is my Experian score 40 points lower than Experian & Transunion? I understand that different FICO score models result in different ranges of scores. We’ll explain what a credit bureau is, why Experian, Equifax, and TransUnion show different scores, if one bureau’s score matters more than the others, and ways to improve or build your credit score. That’s the highest factor percentage, which means it’s critical to pay bills on time with no exceptions. The reason that this score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. If you had unexpected expenses and you put them on a credit card or cards, your credit score could drop. Why is my Experian score 100 points higher than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. A credit score discrepancy is a difference in your credit score from one credit bureau to another. TransUnion uses the VantageScore ® credit scoring model to calculate your credit score. For example, a mortgage lender may look at a different credit score than your bank when they are deciding whether to grant a credit card or a new credit limit. Why is my Equifax score lower than Experian? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. Great chance you are comparing a score from Credit Karma with a range of 501-990 versus the score your bank is using with a range of 300-850. It is also important to note that lenders might send their reports at different periods of time, so it is possible that TransUnion might have fresher updates than Equifax and vice versa. For instance, Equifax uses a scoring model known as the Equifax Credit Score, while TransUnion uses a scoring model known as the. Both hard and soft inquiries appear on your credit report, but it’s the hard inquires, those related to applying for credit cards and loans, that affect your score. This means that there is not only a clear 200 point difference between these two bureaus but the “perfect scores” are also different, which is 1000 as reported by Experian and 1200 as reported by Equifax. TransUnion 30%. First things first. 95 per month. Use? , 90% of system design is similar few numbers in life accuracy or completeness of Equifax in the United one credit report. This is just to let the consumer. Re: Transunion credit score is 35+ points lower than Experian and Equifax scores. The three credit bureaus are Equifax, Experian, and TransUnion. My FICO went up like with the equifax reported by credit karma. TransUnion offers a similar product to Experian Boost. This could lead to a person having a relatively lower score on Experian compared to the two other bureaus. FICO is used in about 90% of lending decisions. Some lenders only report to one credit bureau, while other lenders report to both. The score from Experian is FICO 08 scored as well. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you'll see wide credit score. Frequently applying for credit card or loan offers can certainly cause a drop in your credit score. We would like to show you a description here but the site won’t allow us. ”. 0. Experian and Transunion are usually much higher, but neither really tops the other consistently. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. The reason that this score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data. That applied to both individuals and family plans. Why is my FICO score so much lower than my TransUnion and Equifax? This is mainly because of two reasons: For one, lenders may pull your credit from different credit bureaus, whether it is Experian, Equifax or TransUnion. Citi usually pulls credit reports from Equifax or Experian. We all collect similar information, and. It’s also important to note that credit scores are only sometimes 100% accurate and can vary. 0. A credit score discrepancy is a difference in your credit score from one credit bureau to another. In my experience, equifax is always lower than Transunion (mine is 40-50 points lower last I checked) Two different companies with two different products and methods of coming up with scores. 2. But rather than comparing Equifax vs. You also have an Equifax FICO® Score 8 and a TransUnion FICO® Score 8. Some people want to achieve a score of 850, the highest credit score possible. Edit: The reason Credit Karma is stating for the low score is a combination of a high number of hard pulls and that my average account age is too new. General FICO ® Scores range from 300 to 850, and so do VantageScore 3. Experian and Equifax are the two largest credit bureaus in the United States. Dispute directly with the company that reported the information to TransUnion. If all is well, each agency should have all of your information identically. An Equifax credit score is a traditional credit score that will range from 101 to 992. Why is my Equifax credit score 37 points lower than my Experian score, and 47 point lower than my Transunion score? I have compared all 3 of my credit reports. We would like to show you a description here but the site won’t allow us. Vantage scores are fickle things, anything could make the score change, heck the weather might affect for all I know. These factors are likely to yield different credit scores, even if your credit reports are identical across the. Why is my Equifax score so much lower than Experian? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. ”. In general, the higher your score, the better your chances of getting approved for credit cards or loans with more favorable terms, including lower interest rates and fees. My VantageScore number is 41 points lower than my FICO score -- still lower, but a less drastic difference than what Brian saw. Equifax and Transunion use FICO 04 models for mortgage scores (309-839 and 334-818). When lenders review your credit report for the purpose of an application, a “hard inquiry” is placed on the credit report they checked. Score differences are very common and are usually the result of small variations of when information is reported and how it is weighted. FICO. One place to look is derogs. TransUnion TransUnion ranges from a low of 300 to a high of 850. Which is better Experian TransUnion or Equifax? Based on our analysis, Experian provides the best service for the money. Experian 76%. That applied to both individuals and family plans. A 700 score places you right in the middle of the good range, but still slightly below the average credit score of 711. These scores are not provided by Credit Karma. I have 596 Exp and 670 with the other 2. Suzanne Kvilhaug. Why are my credit scores. CreditWise uses TransUnion’s VantageScore 3. . Why is my Equifax score lower than TransUnion? The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. The credit bureaus may not have the. 6/5 ( 59 votes ) If you file a dispute regarding information on your Equifax credit report, you can generally expect to receive the results of the investigation within 30 days. Amex primarily pulls Experian, though sometimes Equifax or TransUnion reports. TransUnion offers more insight into a person’s job history, whereas Equifax provides more information about mortgage history. . It's also the least friendly to those just starting out building credit. I just pulled my Transunion and Equifax FICO scores from myfico. The main difference is Experian grades it between 0 – 1000, while Equifax grades the score between 0 – 1200. Over the past couple of months, I have watched both my Experian and Equifax scores shoot up significantly, and yet my Transunion score has only gained a small few points, and actually dropped, even more. Great chance you are comparing a score from Credit Karma with a range of 501-990 versus the score your bank is using. Experian gives a more detailed picture of a person’s financial history, including payment timeliness and debt utilization. Financial Smarts Transunion vs Equifax TransUnion® Vs. Experian: 715Score: 4. Score differences are very common and are usually the result of small variations of when information is reported and how it is weighted. 3/5 ( 60 votes ) The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. Here’s why. However, interest rates will be higher, and the loan amounts will often be lower. Similarly to. And less accurate for the lender ultimately. Everyone’s ability to interpret information differently just makes it nebulous and less than useful for the consumer. Equifax, Experian and TransUnion are the three credit bureaus responsible for reporting your credit score. 0 is relied on by lenders across a variety of industries. If you have had missed payments on this loan, then you will find your TransUnion score is a lot lower than your Experian or Equifax score. However being under 700 on one while being over 800 on the other is unusual. ”. And a lender may report updates to different bureaus at different times. Experian is 601 and Equifax is around 689. Your Experian, Equifax and TransUnion credit reports should be fairly similiar. wrote: wrote: I'm in the same boat. troyb. 1. Transunion: 676. I'm at 705 TransUnion, but I'm at 588 on Equifax. The other two only report the name of your employer and do not add any weight to that fact. These are things like lates and collections and. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you'll see wide credit score. Why is my Equifax score 100 points lower than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. On top of that, these credit reporting agencies use different scoring models to produce credit scores. TransUnion is bringing up the rear among the three. That applied to both individuals and family plans. 5/5 ( 12 votes ) The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. A higher score means lower risk and vice versa. Equifax. The base FICO ® Scores range from 300 to 850, while FICO's industry-specific scores range from 250 to 900. Third parties use many different types of credit scores and. Here's a few thoughts: You are basically wondering why your EX score is a lot lower than EQ or TU. Got the credit report back in mail and it seems equifax beacon 5 (FICO score 5) came out like 30 points lower than Experian (FICO 2) and Transunion (FICO 4). A credit score is no more than a snapshot of your credit profile at one point in time. I haven't yet gotten a FICO on my EX report, but I know my EX report has a ton of other accounts on it and all my HPs from the last 24 months. What a credit bureau is. My Transunion scores have always been the highest of the three. Both range from 300 to 900, which is the credit score range in Canada. This is no different when it comes to Equifax vs. These factors are likely to. It falls below the national average FICO ® Score of 710, and solidly within the fair score range of 580 to 669. Good. 0. 670-739 = Good. So, you may have loan A which is reported to Experian, while loan B is reported to Equifax. On the next page, click on "Equifax Credit Report & Score. You may have a different score with each of the three nationwide credit reporting agencies (TransUnion, Equifax and Experian). I have 755 with Transunion, and 646 with Equifax. TransUnion. No disputes, no reason to cause them to be removed. And a lender may report updates to different bureaus at different times. Most lenders (at least in the midwest) pull their reports from Equifax and almost all of them report to Equifax, which is why it tends to be the lowest of the three. On the home page, click on "View All Products. Each of the three nationwide consumer reporting agencies (Equifax, TransUnion and Experian) might include different reported information such as your current credit limits and account balances, as well as information on certain public records like a bankruptcy. These factors are likely to yield different credit scores, even if your credit reports are identical across the three credit. And even though the credit bureaus may have the same information, each bureau has proprietary algorithms that might score you differently. For starters, Equifax and Transunion have their own proprietary algorithms, with each one assigning a different weighting to the criteria. The other two only report the name of your employer and do not add any weight to that fact. It was a Verizon account paid in a BK that was d/c 4/4/17. Delinquencies reported on a loan reported on one credit report, but not the others, is the most common reason why you'll see wide. If we didn't, seemingly normal credit usage today would be considered a higher risk than in years past. Each is collecting the same information about your credit history, but it's not uncommon for there to be slight variations among the different reports. The VantageScore model wasn’t introduced until 2006. My Equifax Dispute. 95 a year and eCredable LiftLocker for $9. And a lender may report updates to different bureaus at different times. They are my spouses cards and we share the same address and last name, of course. And even if a lender reports your credit information to both bureaus, they may do so on different dates, meaning your credit score could be up-to-date with one bureau and out. In contrast, TransUnion offers a free plan, as well as a subscription plan that costs $24. Why is my Equifax score 100 points lower than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. Not on the electoral register (due to a muck up in my local office but soon to be rectified) but that should push me up. Delinquencies reported on a loan reported on one credit report , but not the others, is the most common reason why you'll see wide credit score discrepancies. This is because individual consumer reporting agencies, credit scoring companies, lenders and creditors may use slightly different formulas to calculate your credit scores. Equifax 54%. So I subscribe to both Equifax and Experian and have two completely different credit reports and now, ratings, for both. Transunion Vs. My Equifax report still lists my employer as "Parental Allowance" from when my parents helped me get my first credit card at 18. The most likely explanation is that your three reports are not exactly the same, and that in particular there is something on the EX report that makes its score worse. Cost of the Report. Why is my Experian score 100 points lower than TransUnion? If you have an installment loan that reports only to Experian, your Experian credit score may be very different Equifax and TransUnion. 0 and 2. This is one of the least forgiving bureaus because much more weight is assigned to your payment history and the average age of your credit accounts. But I have not had any alerts or changes since January 20 on Equifax at all. Your student loans might affect your credit scores in several different ways. And only recently did we start reporting to Experian. Why is my Equifax score lower than Transunion? That’s like almost 100 point difference between Transunion and Equifax! The difference between my personal Transunion and Equifax credit scores. But at my credit union, I have access to two different score models. For example, let's say you're going to buy a house. FICO, which is a U. 580 to 669 (fair credit): Some lenders will work with consumers with fair credit. There are two plans available: eCredable Lift for $24. When it comes to the TransUnion vs. Both companies collect credit information on individual consumers, which they sell to lenders and. . Experian CreditWorks Basic: View your Experian credit report for free every month. Why is my Equifax score lower than Experian? This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. Source: Based on the VantageScore, FICO score, Equifax, and Experian credit score range model. ClearScore gets your credit score and report from Equifax. WHY?? This makes no sense to me, if FICO is derived from Equifax and TU how. Experian always seems to be my middle score while Equifax brings up the rear. New credit: 10%. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus. Your Equifax score can be lower than your TransUnion score for a variety of reasons. It's also the least friendly to those just starting out building credit. Experian is one of the three major credit bureaus, along with Equifax and TransUnion. Here’s why your FICO® Score 9 credit scores could be different. If you have many recent inquiries, lenders may assume that you are having financial problems. They use different formulas to calculate your credit score. FICO Score 9 is already being used by hundreds of lenders, and eight of the nation’s top 10 lenders have either evaluated it, are in the process of evaluating it or plan to do so, according to. My Equifax (from Borrowell) is consistently 80-100 points lower than my TransUnion score (from CreditKarma/BMO), despite both reports showing the same credit accounts, inquiries and lack of collections or other negative items. This means that your credit score may differ even with the same credit history. Also it is at least possible that this is simply a question of the different scoring algorithms computing a different score. Even though the precise number of the ranges might vary, in practice, the differences aren't major: The higher your credit score, the better. I am and have been getting alerts from Myfico about a lot of changes in my TU and EX since the beginning of February. Yes. Above 800 = Exceptional. Vantage scores are fickle things, anything could make the score change, heck the weather might affect for all I know. Why is my Equifax score lower than TransUnion? The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. The higher the number, the. The scores we provide are actual. Credit-scoring models can differ and. Chase favors Experian, but may also buy Equifax or TransUnion reports. There are a number of reasons for this. Both of these credit bureaus use a dynamic scoring model, but the weight they put on each variable varies. TransUnion uses the VantageScore® model when calculating your credit score, based on a range of 300 – 850. Message 2 of 8. Score: 4. . A failure risk score will range from 1001-1,610, with a lower number meaning that the business is a high risk. FICO scores are generally calculated using five categories of information. Score: 4. ALL of my AU accounts that have been reporting for over a decade were removed from Equifax over the past week. Why is my Equifax score lower than TransUnion? The reason that your Equifax score is lower than your TransUnion score is based on the fact that TransUnion adds personal information and employment data that is weighted into their model. Similar numbers. This means that there is not only a clear 200 point difference between these two bureaus but the “perfect scores” are also different, which is 1000 as reported by Experian and 1200 as reported by Equifax. Here are some reasons a score can drop: Using more of your available credit. So, it's possible that Equifax and TransUnion could have different credit information on your reports, which could lead to your TransUnion score differing from your Equifax. Just remember that none of your free credit reports include your credit score. These factors are likely to yield different credit scores, even if your credit reports are identical across the. My Equifax is more than 100 points lower than my TU score. In fact, there are several reasons why your scores from Experian, TransUnion and Equifax are typically different. FICO is the most well-known and widely used scoring model, as 90% of major lenders rely on those scores when evaluating applicants. But Canadian consumers cannot access their. A good score with TransUnion and VantageScore® 3. TransUnion uses a 7 year credit history while Equifax calculates it based on a time interval of 6 years and 9 months. The latter recognizes that I have a $27 delinquency, whereas Transunion says my credit report is clean. Why is my Credit Karma Score much lower than FICO Score? I signed up for that $1 promotional 3 Bureaus report from an Experian company. On top of that, these credit reporting agencies use different scoring models to produce credit scores. | Last update: February 9, 2022. Some lenders only report to one credit bureau, while other lenders report to both. It however is still being marked as an open collections account. TransUnion and Equifax calculate credit scores differently. A creditor could be reporting your payments to just one or two of them, instead of all three. Also, back in the FICO 04 days, the algorithms were customized for each CRA. For instance, if you have a credit card with a $1000 credit limit reporting as a $100 credit limit, this could cause a big hit to your credit utilization ratio. Their behavior is governed by the FCRA. There are many reasons why the numbers between Equifax and Transunion may differ so much. FICO® Score 9 looks at medical debt, paid collections and rental history differently than previous versions of the FICO® credit-scoring models. FICO. Your Equifax credit score may be sometimes lower and sometimes higher than your TransUnion score for a variety of reasons, including: Each of Canada’s two major credit bureaus use different credit scoring models to establish your credit score and file. While it is possible for you to have only one credit score, it's unusual. Data Collected. Your credit card balance is higher than usual. Finally, let’s address what might be the most frightening reason for a drop in credit scores: Someone could have stolen your identity and applied for (and opened) credit accounts in your name.