Credit Scores so different, Im Confused!!!

ticmike

So this is where im at, ive paid off all my debts now and just waiting for them to all show on my credit files, but what i am confused at is the difference in scores with Equifax and Experian.

Mine is-
Eqifax- 261
Experian- 624

My Wifes-
Equifax- 336
Experian- 841

Just wondered if anyone can shed any light on why they are so different, as its really starting to confuse me?

Thanks

[Deleted User]

Well, one is scored out of 999 and the other out of 600 for a start....

ticmike

Are you sure its out of 999 as my wifes (see pic) is on 841 which is slap bang in the middle of the rating, were as if its out of 999 surly 841 would be closer to good/excellent.

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Cycrow

i dont think it goes all the way down to 0.

maybe if you shake the magic 8ball abit more you might get closer scores

You-kip

I do believe one of Experian's incentives is the more time you've been a monthly subscriber the higher the score they give.

Chrisblue1962

The so-called credit scores provided by CRA's are basically meaningless.

The only scoring worth worrying about is the internal scoring used by the lender from whom you are trying to borrow.

By getting a copy of your credit reference record from the CRAs you get an idea if there is any evidence of a poor credit history on your current record, which may influence a lender's decision. Experian's opinion , by means of a credit score is basically meaningless.

It doesn't really matter if Experian themselves give you a score of 462,215 , 3 or 265 because Experian don't lend you the money, the lenders do!

ticmike

Chrisblue1962 wrote: »

The so-called credit scores provided by CRA's are basically meaningless.

The only scoring worth worrying about is the internal scoring used by the lender from whom you are trying to borrow.

By getting a copy of your credit reference record from the CRAs you get an idea if there is any evidence of a poor credit history on your current record, which may influence a lender's decision. Experian's opinion , by means of a credit score is basically meaningless.

It doesn't really matter if Experian themselves give you a score of 462,215 , 3 or 265 because Experian don't lend you the money, the lenders do!

Thanks Chris, so basically paying £££ for experian or the likes is pretty much a waste of money?

Cycrow

If you're doing it just for the score, then yes it is.

The information on the file is useful however. But you can get these by paying £2 per report.

candytwinkle

My husband has a credit score of 999 out of 1000
He applied for a loan and got refused. My score was 849 and I got accepted?

I agree with CYROW

ticmike

candytwinkle wrote: »

My husband has a credit score of 999 out of 1000
He applied for a loan and got refused. My score was 849 and I got accepted?

I agree with CYROW

They dont appear to be very accurate or needed then.#

you learn something new everyday.

matttye

ticmike wrote: »

They dont appear to be very accurate or needed then.#

you learn something new everyday.

6 defaults and a discharged bankruptcy order - 980 - excellent.

That may give you some idea