Home Buying in Austin>Question Details

Maryann Gill…, Renter in Austin, TX

I checked my credit score from five different companies and they are all different so how do I know which score is more accurate?

Asked by Maryann Gillespie, Austin, TX Thu Oct 17, 2013

Help the community by answering this question:


If your talking 5 different online credit reports then they are all wrong. A consumer report is just an estimate of your credit score, a score from a lender will be completely different than what you see online, could be 50 points higher, or lower.
0 votes Thank Flag Link Thu Oct 24, 2013
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Flag Thu Oct 31, 2013
Hello Maryann,

This is a pretty simple question to answer in most cases. If I pull your credit as a lender I pull directly from the 3 credit bureaus. In most cases if somebody else pulls your credit and nothinghas been updated they will get identical scores to what I pulled and vice versa.

If you look at your credit from websites like CreditKarma.com or other similar sites you get whats is called a credit model score. CreditKarma is run by TransUnion, one of the 3 major credit bureaus. I had a client of mine go to CreditKarma and obtain their score. I than ran their credit and it was 50 points less (comparing his TransUnion score to CreditKarma). This is because on CreditKarma they still use a model and it is different from their real scoring model. I have no idea why but I have also noticed that those sites tend to give you an elevated score.

So what should you do? Typically I recommend having only one company pull your credit and then if you shop around you can just give them your credit scores. While credit inquiries form mortgage companies made withing a month are grouped as one inquiry it still is not necessary to give out all your info to a bunch of people or companies until you know you want to work with them for sure in my opinion.

So the score the lender pulls that you are using is going to be the right score... that is the score they will be using to qualify you for the mortgage. Hope this helps.

Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Sat Oct 19, 2013
Do you mean you checked with 5 different lenders or 5 different credit scoring services?

If you checked with 5 different lenders then that sounds very odd. If it was around the same time, then the scores should be the same. You would have a credit score from each of the 3 credit bureaus - Equifax,. Experian, and Transunion.

Services that give you credit scores are never fully accurate and can differ from what a mortgage credit report would look like, since the formulas vary slightly. If you read their fine print, you'll see that most of these services are merely estimating your credit score based on their own model. The exact formulas for how each credit bureau scores your credit it as tighthly guarded as Colonel Sanders Secret Recipe - we know what factors into the scores but no one knows exactly how much everything is weighted.

My advice is to talk to an actual lender and get your tri-merged credit report run. That's the only way to be sure what scores lenders will go off of. After all, it won't matter one bit if you've got a piece of paper saying Credit Karma told you your score was a 750 when the lender is going to use a 680.

Feel free to give me a call if I can assist you with things. We can run your credit and provide a free copy of your report to you so you can see what all the fuss is about.


Tony Grech | Mortgage Loan Originator | NMLS #977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 ext. 278
Mobile (313) 622-7383
Fax (248) 945-4842

0 votes Thank Flag Link Thu Oct 17, 2013
No, not with 5 different lenders, 5 companies online such as myfico.com, transunion.com, etc. I checked all 3 bureaus and the scores were all different and I did go to a lender, once and my score was lower than I checked online and they only checked one bureau. Why is that? I'm thinking my score is a certain number but the lender has a much lower score.
Flag Thu Oct 17, 2013
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