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Three different Credit score providers and three different score.

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Three different Credit score providers and three different score.

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peteukpeteuk Forumite
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I know I shouldn't read too much into the credit score, however I am somewhat puzzled as to how they score. 

Clear Score 118
Experian 317/999
Credit Karma 501/710

Which on is the most accurate?
Proud to be dealing with our debts
Starting debt 2005 £65.7K.
Current debt £8.5K and decreasing NB Two new car loans doesn't help.
. Debt free at some point in 2021:o
ONE LAST PUSH TO BEING DEBT FREE

Replies

  • ThrugelmirThrugelmir Forumite
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    All of them. 
    ““Bull markets are born on pessimism, grow on scepticism, mature on optimism and die on euphoria.”

    ― Sir John Templeton
  • GeordieGeorgeGeordieGeorge Forumite
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    They are each just a made-up number that no-one but the agency and you ever see (no lenders ever have access to these numbers), and it’s arguable that they tell you little to nothing about how creditworthy you are.
  • couriervanmancouriervanman Forumite
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    peteuk said:
    I know I shouldn't read too much into the credit score, however I am somewhat puzzled as to how they score. 

    Clear Score 118
    Experian 317/999
    Credit Karma 501/710

    Which on is the most accurate?
    None of them
  • cymruchriscymruchris Forumite
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    Clearscore on Wednesdays
    Credit Karma on every third Monday
    Experian on Saturday afternoons (as long as Wales aren't playing rugby)

    You get the idea...
    Scores mean nothing - data and history means everything - is that all accurate on all three reports? (it doesn't have to be identical data on all three - as not every company reports to every agency.)
    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
  • FarfetchFarfetch Forumite
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    peteuk said:
    I know I shouldn't read too much into the credit score, however I am somewhat puzzled as to how they score. 

    Clear Score 118
    Experian 317/999
    Credit Karma 501/710

    Which on is the most accurate?
    Check the data on your file is all correct. Ignore the made up score, perhaps Credit Karma doesn't have a certain account that Clear Score does or they weight your accounts differently. I score you 3 chocolate hobnobs and a kitkat if it makes you feel better?
  • edited 4 May at 11:09AM
    DCFC79DCFC79 Forumite
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    edited 4 May at 11:09AM
    peteuk said:
    I know I shouldn't read too much into the credit score, however I am somewhat puzzled as to how they score. 

    Clear Score 118
    Experian 317/999
    Credit Karma 501/710

    Which on is the most accurate?
    You've just said about reading too much into the score but your doing just that, not all lenders, banks etc report to all 3, as long as the data on all 3 is correct then thats all that matters.
  • Jimjim78Jimjim78 Forumite
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    They are all meaningless. The sole use is for the CR agency to sell to you. They will advise you that by taking whatever they're selling eg. a credit card, will improve your score.
  • s_rs_r Forumite
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    Accuracy of the score - Answer: All of them and none of them!
    As countless posters would all mention, the scores are essentially, a marketing gimmick! What matters most is having a good payment history (i.e. making payments on time on your accounts).
  • JumblebumbleJumblebumble Forumite
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    peteuk said:
    I know I shouldn't read too much into the credit score, however I am somewhat puzzled as to how they score. 

    Clear Score 118
    Experian 317/999
    Credit Karma 501/710

    Which on is the most accurate?
    Since not all lenders report to the same agency so probably no agency has the entire picture of your finances  it would be amazing if they were all the same.
    ( ie if a default is reported to one but not the other two   you get the picture )
  • peteukpeteuk Forumite
    429 posts
    Part of the Furniture 100 Posts Combo Breaker PPI Party Pooper
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    Thanks everyone for the replies, I will go through them and ensure they are correct.  I know one has an incorrect loan on it, which I have already taken up with them and the loan provider.  Seems I paid the loan off at the wrong time and so although in reality there is zero balance, the credit score still has it as £600, but they haven't reported  on it since Feb 2020. .
    Proud to be dealing with our debts
    Starting debt 2005 £65.7K.
    Current debt £8.5K and decreasing NB Two new car loans doesn't help.
    . Debt free at some point in 2021:o
    ONE LAST PUSH TO BEING DEBT FREE
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