Why Your Credit Scores May Vary

Every consumer has a specific credit score attached to each of the three credit bureaus – Experian, TransUnion, and Equifax. When applying for credit lenders take the average of the credit scores provided by the bureau’s to determine a customer’s creditworthiness.


Discrepancies in scoring are actually quite common. Some of the factors that lend to variability include:
    • Conflicting information typically stemming from missing accounts. In theory all bureaus should have the same information on file but often time creditor’s fail to report information to all three bureaus resulting in discrepancies.


    • Different scoring models between the credit bureaus also affects credit scoring. The outcome is that the bureaus will provide a three digit score but HOW they determine that score is determined by their own formulas. It is best to learn what each bureaus scoring strategy.


    • Mistakes are unfortunately very common. Mistakes can com from human error to reporting information. This is why credit monitoring is very important so that mistakes can be caught early and corrected as soon as possible. If left unchecked and corrected a minor mistake can lead to major consequences.


    • Varying times of reporting from each credit bureau also affects credit score. Each bureau operates under their own schedule creating is discrepancies in scores from one bureau to the next.


If you have found mistakes on your credit report and would like help in correcting them contact AZ Credit Law Group we will help determine which mistakes are negatively affecting your score and help you resolve them quickly.


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My firm has 3 goals – be cost effective & efficient, make complicated things simple, and change the way people think about attorneys. We do this by offering flat rates with payment plans, educating our clients, and by encouraging everyone to ask us questions to better understand what we do & why we do it. I am a credit attorney and I love helping people with debt and credit legal issues.

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