Different credit records??

Ant_Wish

I have 988 with Experian, 248 withEquifax and 92 out of 700 with Clearscore. Why are they all different???

HelpfulTips

The scores given are simply the agencies interpretation of how a lender may score you.
I find them completely irrelevant, as an example if you make an application and have a search on your file, the agencies drop your score dramatically, when in fact one or two searches makes little to no difference.
Best advice is simply to use the agencies to make sure nothing is wrongly reported, and ignore the score they give, in most cases it's highly misleading

[Deleted User]

Because they're all completely made up numbers and don't mean anything, that's why.

The information in your reports is what matters, nobody ever sees the score numbers apart from you. Different lenders report to different CRAs which is why the information in the reports might be different.

Ant_Wish

So how do lenders make there decision?

mwarby

The lenders use the information contained in your report(like how much credit you have, has it been paid on time, are your debts increasing or decreasing) and from your application (how much you earn, steady job, that you intend to use credit for, other services from same lender or group)

All of this is run through an algorithm (which is specific to lender and often product, and unpublished) to determine whether to accept or decline and at what limit.

Note all lenders are different, they look for different things but with a common aim. That aim is to make a profit at a defined risk level

mwarby

Your scores are probably different as different lenders search and report to different agencies. You can't control this, but it's worth checking the data they report is accurate , they have you on electoral role, your not linked to someone you shouldn't be

interestingly clearscore use equifax data(and supposedly their score)

You might want to look at noddle who are part of callcredit(the other credit reference agency) who are free to use