Finance Blog

Why Does the Credit Score My Lender Sees Sometimes Differ From What I See?

Written by Equifax Experts on July 1, 2014 in Credit  |   21 comments

Your credit score may differ among the three credit reporting agencies, and the credit score you see may be different than the one your lender sees. The Equifax Experts explain why this sometimes happens.


Imagine this: You spend six months saving for a down payment on a new car. Before heading to the dealer to make your purchase, you pull your credit report and credit score to ensure you will qualify for the best loan terms. Your credit score is good, but when you’re offered financing at the dealership, it’s not at the competitive rates you were hoping—the auto lender’s score was lower than the one you pulled on your own.

What you didn’t know before you picked out your new car was that the information that lenders use to assess your creditworthiness may be different from what you will see in the credit reports you pull.

Lenders use different credit scoring models to gauge your risk as a borrower. Each lender chooses the one that best suits its needs, and some use scores that are weighted according to their industry. For example, a mortgage lender might use a different scoring model than an auto lender. Other lenders use a blend of the scores that are assigned to you by the three credit reporting agencies (CRAs).

(Click here to learn more about why your 3 credit scores may be different)


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