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Subject:  Re: Haven't checked the FICO in quite a whil Date:  7/14/2016  1:57 PM
Author:  spinning Number:  310642 of 312696

Yep, CreditKarma definitely has their own mysterious way of tossing out numbers which while representative, are definitely not definitive and accurate scores. Of course, in the big picture, it probably makes little difference.

I get my score from Experian which wants to charge me $15/month for the privilege. What I do is call them each year to cancel and they then offer me the service for $7/mo if I don't cancel. Still, really an unnecessary expense, but I do like keeping a look at my numbers.

There are many different credit scores used for many different purposes. Even the FICO score differs among credit bureaus. Bank of America gives me my TransUnion FicoScore 8. CreditKarma gives a VantageScore 3.0 for TransUnion and Equifax. For myself, the FICO and VantageScore scores from TransUnion differ by 29 points, while the VantageScore TransUnion and Equifax scores differ by 23 points. So for me at least, the difference between credit bureaus is similar to the difference in score formulas.

NerdWallet has an article on all this:

You don’t have just one credit score — you have hundreds, and they change constantly.

The scores most commonly used in lending decisions ... are known as FICO scores. VantageScore ... is its main competitor.

It’s also not uncommon for a lender or retailer to tweak a score slightly to customize it. ... Auto loan scores, for example, weigh whether you’ve made your car payments on time in the past more heavily than some other scores do. You have specialty scores developed for credit cards, auto insurance and mortgages, as well.
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