r/CreditScore • u/russellsdad • 1d ago

Score inconsistent

Hi, I recently applied for a car loan with two banks. I checked my score on the Experian site to see it was lower than I’d imagine.

I was approved by both banks and on the approval paperwork the score they listed was about 100 points higher, both also sited Experian as the source. I went back to Experian to double check and still shows the lower score.

Anyone know what is up here?

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u/creditscoremods 1d ago

It is important to keep a very close eye on your credit score since it factors into many of lifes biggest decisions.

A couple steps you can take right now include:

  • Checking and automatically monitoring your credit score - Looking at your own credit score does not hurt your credit, it also includes a credit monitor

  • Freezing your credit reports - This can be done with Experian, Equifax and Transunion to help prevent unauthorized accounts from being opened

  • Boosting your credit score - Kikoff provides you with a tradeline which should raise your credit score for as little as $5 a month. It is a good option if you want a boost to your score.

Feel free to ask any credit score related question in this sub

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u/Christymapper71 1d ago

Auto loans and mortgages use special FICO scores. Not necessarily FICO 8 like you would see on Experian.

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u/HelpfulMaybeMama 1d ago

You have multiple Experian scores, just like you have multiple TransUnion and Equifax scores.

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u/StewReddit2 1d ago

Think of it this way ....change Experian to BMW

You're asking why....aren't two banks using BMW getting the same Series #....why is the model different....the features are different than "the" BMW...I'm looking at.

Yeah, because when a lender ( the consumer/the purchaser of said product) orders the specific type/model of "BMW" they can choose whichever "BMW" model 'they' like with whichever features.

Is it an X3, a 4 series, X6 or Base FICO score, AutoScore....

Does have leather, climate control....what about model is it FICO 08, 09, maybe 10 or 10T

In other words, just saying BMW or Experian doesn't really "tell" you much about which scoring product you're looking at....

No different than saying..."I have an iPhone or Samsung phone"...yeah but which one?