Posted on: 18th Apr, 2012 08:14 pm
My credit report improved drastically after I removed some collections from my credit report, opened some new accounts and getting my student loans rehabilitated. Presently, my Equifax credit score is at 639 as my main goal is to get to 640 to qualify for an FHA loan. However, now I found that my Transunion score is at 557. How can there be such a huge difference?
Welcome Shainan,
It can be the case that Transunion may not have updated your credit file after you paid off or removed the collections. As a result, the scores haven't improved and there is a drastic difference in both the scores.
It can be the case that Transunion may not have updated your credit file after you paid off or removed the collections. As a result, the scores haven't improved and there is a drastic difference in both the scores.
Adonis is correct. If you have three credit bureaus, your credit card company or creditor may only be reporting your information to one, two or all three of the bureaus. Sounds like your accounts that were resolved, are still reporting by the TU model...Take a look at your report, it will give you TU for Transunion, EFX for Equifax and EXP for Experian. Find the one that not reporting the correct information, contact them to resolve. Good luck
You note two credit scores.
You did not note your Experian credit score.
Mortgages use the middle of the three scores.
You want your middle score to be 640 or higher.
If your middle score is 640 or higher, the difference between the high and low scores does not matter.
You did not note your Experian credit score.
Mortgages use the middle of the three scores.
You want your middle score to be 640 or higher.
If your middle score is 640 or higher, the difference between the high and low scores does not matter.
