Why is my MSE Credit Club Score Different to Experian?

maxamus007

Hi,

I just signed up to the MSE Credit Club to see what my affordability is like as it uses Experian as a source for checking. I also am i member of Exprian and noted that the MSE Club score is different to the one given by Experian.

Experian website score is higher by 43 points.

Is there a reason for this?!?

[Deleted User]

It's due to a) timing and b) both are made up.

maxamus007

That's true as my credit score on all three credit score providers is vastly different.

Chappaz

maxamus007 wrote: »

That's true as my credit score on all three credit score providers is vastly different.

Credit reference agencies have their own in-house scoring model which is designed to give you a rough idea of how good your credit rating is.

The problem is that:

a). All the reference agencies use different models.
b). All the lenders use different models as well.

So what may seem like below average credit rating for the reference agency could be a good credit rating for a particular lender - and vise-versa. It all depends on what they consider less or more important.

But rest assured that lenders can't see the score. It's only personal to you. Lenders will have their own in-house scoring models, but they could be (and most probably are) very different. There's no one-size-fits all model because what a mortgage lender is looking for can be different to what a credit card company is looking for.

teffers

maxamus007 wrote: »

Hi,

I just signed up to the MSE Credit Club to see what my affordability is like as it uses Experian as a source for checking. I also am i member of Exprian and noted that the MSE Club score is different to the one given by Experian.

Experian website score is higher by 43 points.

Is there a reason for this?!?

I have access to my Experian score via Barcalycard and also the MSE Credit club.

I've generated the reports within days of each other (with zero changes) and still got different scores

I'm now convinced the score itself is created by giving a chimp several dice and counting the results as it throws them out of a port-hole on a cross-channel ferry.

MSE_Dan_L

teffers wrote: »

I have access to my Experian score via Barcalycard and also the MSE Credit club.

I've generated the reports within days of each other (with zero changes) and still got different scores

Thanks for your post

We've worked with Experian to launch MSE's Credit Club to allow you to gain free access to your Experian Credit Score and Credit Report. Experian has a few difference services which will allow you to view a credit score which includes its own Credit Expert service.

Although the credit reference data which Experian holds about you will not change based on the service you're using, there are a few reasons why you may see different a different score when using Credit Club compared to another Experian service.

Some common reasons for differences in the Experian Credit Score include:
- Timing - your Credit Club information updates every 30 days, so may be more (or less) up to date than a score found elsewhere.
- Information - differences in personal information provided at registration can results in a different match-up of information on the credit file. For example the amount of address history provided can have a negative or positive impact, depending on the information which this matches to.
- Formatting - Also, the format of your current address must be correct in order to ensure that all of your information is being pulled onto your report. For example if your flat number is being inputted as your house / building number on some of your accounts and then the other way on your membership then this may cause the information to differ.

For more information on what your credit score really means, take a look at our full guide: http://www.moneysavingexpert.com/loans/what-credit-scores-mean

I hope this information is helpful.

keithmac

My MSE and credit score via Barclaycard are identical.

Fireflyaway

I'm very different. MSE excellent. Clear score fair and noddle poor!

Ginaabcd

I've just signed up to the credit club and have been using Credit Expert to keep an eye on my credit file for a number of years.
They two results are vastly different, MSE shows as a much better score, only difference I can see is that I have included my middle name for that but not on Credit Expert.
The report on Credit Club has pulled through my two current bank accounts and mobile phone details but nothing else - I've recently completed an IVA so have a less than satisfactory report when this and historic defaults show, but I'm wanting to work to build the rating up again.
I'm now really confused about the state of the report.

MSE_Dan_L

Ginaabcd wrote: »

The report on Credit Club has pulled through my two current bank accounts and mobile phone details but nothing else - I've recently completed an IVA so have a less than satisfactory report when this and historic defaults show, but I'm wanting to work to build the rating up again.
I'm now really confused about the state of the report.

Hi Ginaabcd

Thanks for your post.

It sounds like the problem here is that when you've been matched to the data held about you at Experian via Credit Club, it has been unable to locate all your accounts. Given you mention your middle name, it may be that this difference is causing the problem. You could try removing this from Credit Club and then checking your details when they next update, or alternatively there's the option to raise a query in your report with Experian using the 'need some help' button. The team at Experian would then be able to look into this more fully for you.

I hope this information helps.