Home > Credit Score > My Free Credit Scores Are All Different. What Gives?

Comments 1 Comment

There are lots of places that offer free credit scores nowadays, but not every score is the same. Even when you pull your free credit scores, chances are the scores will be different.

Why is that?

Free credit scores can differ because of the scoring model used, the credit bureau supplying the data and how frequently that information is reported to places offering free credit scores.

“They don’t always pull the same accounts,” explains Brette Sember, author of “The Complete Credit Repair Kit.” “There may be some information missing which can affect a score, too.” Also, “they don’t monitor your information in real time,” she says. “They only actually check periodically, so it depends on who checked what, when.”

Here are three reasons your free credit scores may not look alike.

1. Scoring Models Differ

There are two major credit scoring models — FICO and VantageScore — and credit sites and card issuers tend to offer one or the other. While the latest versions of FICO and VantageScore have the same scoring range — from 300 to 850 — each weighs the factors comprising those scores differently. For instance, VantageScore says its scoring system benefits those with a thin credit file. (You can learn more about VantageScore here.)

One of the most common credit score misconceptions is that you have only one score, when in reality you have several dozen credit scores. Consumers, in fact, have multiple FICO scores, which can vary based on the credit bureau supplying the data.

2. Lenders Tweak Formulas

Many financial institutions make adjustments to scoring formulas so they are more specific to their credit business. For example, an auto lender might weigh one’s auto payment history more heavily.

3. Timing Matters

As Sember notes, the score you receive may depend on how often your credit information is calculated and when the scores are updated. Your free credit score might not reflect your new home mortgage or paid-off credit card debt. Or that new credit card with a higher credit limit — which reduced your credit utilization ratio, or how much debt you carry on all your credit card(s) versus their total available limits — may not be showing up yet.

So what’s a person to do?

Think of it this way: The scores are all accurate depending on the scoring model and when it was last updated. But things change, and credit is fluid. Free credit scores are best used as more of a guide than a precise figure. The point is to track your credit score to make sure it’s moving in the right direction by always paying your bills on time and in full. (You can get two of your credit scores, updated every 14 days, for free on Credit.com.)

“There are hundreds of credit scores, and they are for educational purposes,” says credit coach and Credit.com contributor Jeanne Kelly. “Each of these varies on how the credit score is calculated.”

She adds, “My rule is, if you always just focus on your credit report and make sure you try to maintain healthy credit, then no matter what score is used, it will be a good one.”

More on Credit Reports & Credit Scores:

Image: Courtney Keating

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team