Difference in credit scores between reporting agencies

[Bolt]

Was looking at my credit scores through the three different agencies in Australia, which are Equifax, Experian, and Illion, and noticed a startling difference.

With both GetCreditScore (Equifax, which is out of 1200) and Credit Savvy (Experian, which is out of 1000), I get a 900+ credit rating. However, with Credit Simple (Illion), I get a credit score in the 500s, which is labelled as "good". But only getting slightly over 50% doesn't sound good to me. There are no negative marks on my file, and everything has been paid on time every time.

Apparently moving home can affect your credit score. I wonder if that's based on the bank's mailing address? As a frequent traveler, I often use different addresses depending on where I want items posted at the time.

Has anyone else experienced a massive difference like this between the credit reporting agencies? Perhaps if we share notes, we can figure out why this is.

 

[Dr Ralph]

Has anyone else experienced a massive difference like this between the credit reporting agencies? Perhaps if we share notes, we can figure out why this is.

This is common. My understanding of why there was a difference was because of the different criteria and weighting for these criterias used between the different agencies.

 

[Happy Dude]

Was looking at my credit scores through the three different agencies in Australia, which are Equifax, Experian, and Illion, and noticed a startling difference.

With both GetCreditScore (Equifax, which is out of 1200) and Credit Savvy (Experian, which is out of 1000), I get a 900+ credit rating. However, with Credit Simple (Illion), I get a credit score in the 500s, which is labelled as "good". But only getting slightly over 50% doesn't sound good to me. There are no negative marks on my file, and everything has been paid on time every time.

Apparently moving home can affect your credit score. I wonder if that's based on the bank's mailing address? As a frequent traveler, I often use different addresses depending on where I want items posted at the time.

Has anyone else experienced a massive difference like this between the credit reporting agencies? Perhaps if we share notes, we can figure out why this is.

Surely not? That was my definition of success at uni!! And I done turn out good.

 

[andye]

Was looking at my credit scores through the three different agencies in Australia, which are Equifax, Experian, and Illion, and noticed a startling difference.

With both GetCreditScore (Equifax, which is out of 1200) and Credit Savvy (Experian, which is out of 1000), I get a 900+ credit rating. However, with Credit Simple (Illion), I get a credit score in the 500s, which is labelled as "good". But only getting slightly over 50% doesn't sound good to me. There are no negative marks on my file, and everything has been paid on time every time.

Apparently moving home can affect your credit score. I wonder if that's based on the bank's mailing address? As a frequent traveler, I often use different addresses depending on where I want items posted at the time.

Has anyone else experienced a massive difference like this between the credit reporting agencies? Perhaps if we share notes, we can figure out why this is.

Illion score is nonsense IMO. Fortunately seems to be the least used by credit providers. Even worse is the peer ranking-I seem to be the least credit-worthy person on my street

 

[theblank]

Has anyone else experienced a massive difference like this between the credit reporting agencies? Perhaps if we share notes, we can figure out why this is.

There is no such thing as a Credit Score. these are fictional numbers invented by each of those organisations under the guise of marketing credit to you. Each determines their number in their own way. some are more cunning than others, they weight up their score so it looks higher with them, so thats the one the punters will use, and click on their marketing adverts for referral fees.

When you go to a bank and apply for credit, they will access the data from the credit agencies, and analyse that along with the data in your application and assess accordingly. No bank is going to be interested in what mythical score obtained from limited data a marketing company is waving in front of you.

Use these scores as a guide in case something bad happens on your credit file, otherwise just ignore all their BS propaganda

 

[Daver6]

My experience is pretty much the same as others that have posted here.

 

[GSP]

Illion score is nonsense IMO. Fortunately seems to be the least used by credit providers. Even worse is the peer ranking-I seem to be the least credit-worthy person on my street

Haha, same with me, like the OP, I've always been languishing in the low 500's but jumped up to 634 yesterday. My other scores (Equifax and Experian) also went up.

 

[Bolt]

There is no such thing as a Credit Score.

Mind blown. So there's a computer algorithm making judgements on our worthiness for credit, which has no impact whatsoever on what the banks do?

Each determines their number in their own way. some are more cunning than others, they weight up their score so it looks higher with them

You're a 10/12 in my books.

so thats the one the punters will use

Could I interest you in a time-share?