Experian vs Equifax

MudHide

Hi All

So, to put this in context, I had a spot of financial bother about 3.5 years ago. I'll be the first to admit I didn't handle it well, defaulted on pretty much everything etc. and didn't respond promptly etc.

Got it all sorted within about 10 weeks however, settled all my debts except for my mortgage and a personal loan.

So, yesterday I finally took the plunge and subscribed to Experian and Equifax. I've checked through the reports - they both show the 'unvarnished truth' - I had call it 3 months of 'bother' 3 years ago but things have been okay since then ... I still have a mortgage, a (smaller by the month) personal loan, and two credit cards that I use but pay off in full each month.

In fact, both the credit cards (Amex and Halifax Mastercard) are increasing my credit limit every 6 months. I also applied for the Halifax card after the 'trouble'. I wasn't automatically accepted but did get through their criterea, albeit at their top rate of interest.

So here's the crux - Experian rate me on the basis of this information at 'Excellent' 999, Equifax give me a 'Fair' rating of 381 - how can their ratings be so vastly different on the same information?

Which of these agencies do credit providers use most?

In some ways it's almost immaterial as I've vowed to never have debt again, except for mortgage debt and credit cards I pay off in full each month, once my personal loan is paid off.

Thanks

MudHide

Gordon_Hose

The scores are worthless in the real world. Lenders have their own criteria and do not see these scores.

These random numbers are given based on information on your credit file only and the data may differ between companies. Plus they'll have their own scoring criteria.

Best advice; ignore these numbers.