Your credit report will contain three different credit scores. Here’s the reason why.
You’ve probably heard of the three major credit reporting agencies: Equifax, Transunion, and Experian. They each report credit scores on your credit report, but you may have a different score with each company.
Why does this happen? Each company has a different matrix that they use to determine a score. With respect to these companies, the creditor that is reporting often doesn’t report to all three, so they might not all have the same information.
“You may have a different score with each company.”
A particular mortgage or auto loan company may only report to Experian or Equifax. Consequently, that will have an effect on your score when you pull it yourself.
We like to look at the middle number to get the score that’s used for your credit application. If you have any questions or concerns about this topic or anything else related to real estate, don’t hesitate to reach out via phone or email today.