Equifax VS Experian

edited 30 November -1 at 1:00AM in Credit File & Ratings
9 replies 1.3K views
romana23_2romana23_2 Forumite
13 Posts
edited 30 November -1 at 1:00AM in Credit File & Ratings
I am a bit confused on Equifax i have an excellent credit score and experian i have a poor one ?? Confused ......

Replies

  • UsetheFORCEUsetheFORCE Forumite
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    Don't worry about the scores, worthless.

    What matters is the data in your files, what is on your Equifax file that ISN'T on your Experian?

    Is there any clear detrimental data such as late payments, Defaults, CCJ's or items such as not being registered on the electoral roll at your current address?

    Just make sure everything is factually correct that is registered on both Equifax and Experian.

    Look at your Callcredit file as well at https://www.noddle.co.uk
    I have numerous qualifications in Business and Finance, Accountancy, Health and Safety and am now studying Law.

    Don't rely on anything I write as it may be wrong!!!
  • ThrugelmirThrugelmir Forumite
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    romana23 wrote: »
    I am a bit confused on Equifax i have an excellent credit score and experian i have a poor one ?? Confused ......

    Companies only report their data to one agency.

    Ignore the score.

    Focus on the underlying issues.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • The_BossThe_Boss Forumite
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    romana23 wrote: »
    I am a bit confused on Equifax i have an excellent credit score and experian i have a poor one ?? Confused ......

    Confused and possibly ripped off - hopefully you discovered this via free trials. Don't pay for these scores in future as they are a waste of time and might as well be made up.
  • The_BossThe_Boss Forumite
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    Thrugelmir wrote: »
    Companies only report their data to one agency.
    .

    Could you expand on this please?
  • IainHLIainHL Forumite
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    The_Boss wrote: »
    Thrugelmir wrote: »
    Companies only report their data to one agency.
    Could you expand on this please?
    I believe Thrugelmir's statement is not totally correct. As far as I am aware all the major institutions report to all 3 agencies. I believe some of the minor players only report to 1 or 2.

    It is when they do a search that they tend to only query one agency (I seem to recall a table somewhere in MSE showing which agency each lender used). Some do query more than one.
  • One says that i am excellent scored 512 on equifax but already i have report two agreements that have 1 late payment each which they were settled about 5 years ago and Equifax is in process to removed them
    Experian said that i have 652 they update every month and based on their scale i have a poor score but everything else is in order
  • edited 31 May 2013 at 2:14PM
    The_BossThe_Boss Forumite
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    edited 31 May 2013 at 2:14PM
    IainHL wrote: »
    I believe Thrugelmir's statement is not totally correct. As far as I am aware all the major institutions report to all 3 agencies.

    If by 'not totally correct' you mean 'completely wrong' then I agree. I'm interested on what evidence their comment was based upon as the only thing I can think of is that they have confused credit searches as you also described (though as you also point out some do search two).
  • The_BossThe_Boss Forumite
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    *bump for the answer*
  • My two credit reports differ like yours. Equifax says excellent and Experian says poor. When looking at my Equifax report online I noticed my old defaults (settled) are not shown. They should be there because I'm not yet 6 years from date of default.

    When I spoke to Equifax about it they advised me that the online report only includes accounts from your current address and past two addresses. As I've moved quite a few times and the defaults are linked to an address older than my current and previous two they will not show on my Equifax credit report. Equifax told me that the only way I can obtain an accurate credit report from them with accounts from all my past addresses is to obtain a postal report.

    So perhaps if you have some accounts which are connected to an old address they may not be showing on Equifax.

    I'm currently on a free trial with Equifax, needless to say that I will be cancelling it before I have to pay as there is no use in paying for a report which doesn't contain all of your information! My Experian report does contain all information from all my past addresses online.
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