Credit scores can differ, so focus on the range that matters to you

Credit scores can vary because different bureaus and scoring models use different data and weight factors differently; the article recommends focusing on which score band you fall into (poor, good, very good, excellent) rather than the exact three-digit number.

Different services can report different credit scores for the same person. A credit score is a three-digit number lenders use to assess creditworthiness and to help decide approval and rates. Scores are built from items such as payment history, length of credit history, outstanding balances, account counts and inquiries, and public negative records. The most common scoring systems are FICO and VantageScore, and the three major credit bureaus are Equifax, Experian, and TransUnion. Key facts: - A credit score reflects factors including payment history, credit age, balances, number of accounts, inquiries, and public records like liens or bankruptcies. - Equifax, Experian, and TransUnion compile credit reports that feed scoring models, and each bureau may hold slightly different information. - FICO and VantageScore are widely used but use different scoring scales (FICO cited around 580 to 800+, VantageScore 300–850) and weigh factors differently. - Because bureau data and scoring models differ, two reported scores for the same person can be noticeably different (for example, a report showing 685 versus one showing 715). - Lenders do not all use the same model, so the score a lender sees may not match a score shown on a consumer report or app. Summary: Different scoring models and bureau data can produce different three-digit scores, which can influence loan approval and the rates a lender might offer. The article emphasizes the practical importance of the score category or band (poor, good, very good, excellent) over the exact numeric value. Undetermined at this time.