Is my Equifax credit score the same as my FICO score?
by Author on Saturday, September 4th, 2010 | 6 Comments
I just got my Equifax score online then came across information about FICO scores. Are they the same thing?
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That is an excellent question and I hope someone expands on the answer in detail. I have seen a 50 point disparity between what I thought was my FICO score and what my refi lender thought it was.
Yes, Equifax is your F.I.C.O. score.
FICO is more of an algorithm, and Equifax does their own little version to calculate their score of you. Your scores between all 3 credit bureaus will be similar but not exactly the same, cos they all do their own little fiddling to calculate the FICO score.
It depends on who you got the score and report from. If you got it from myfico.com then it is probably a legitimate fico score(the one most lenders use). If you got it from a third party then it may or may not be a real fico.
If you purchased your report and score directly from the Equifax site then you likely have a real fico score as well. Most scores usually have a brand associated with them(vantage, creditxpert…). If it is a real fico then it is probably proudly displayed wherever you purchased your report.
Actually people Brown eyes is correct Equifax is your true F.I.C.O. score. Experian uses the Vantage Plus system and Transunion uses both depending on what type of bureau is asked for of which there are 3 the standard that you get from the net, annualcreditreport.com and the credit bureaus and the auto enhanced that only car dealers and lenders see and finally the factual which only mortgage people and lenders see.
So if your looking for a true F.I.C.O. score your options are myfico.com, Equifax and annualcreditreport.com but only as long as you buy their Equifax score.
No. For that matter, one of your Equifax scores may not be the same as another of your Equifax scores and one of your FICO scores may not be the same as another of your FICO scores.
Equifax refers to the source of the information used to calculate your score.
FICO refers to the method of calculating the score from the information.
You can have an Equifax FICO score.
But you can also have FICO scores from non-Equifax information.
And you can also have Experian scores calculated by non-FICO methods.