If I only want to pay for one credit score, which credit reporting company should I order it from?
Asked by
Anemone (
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)
July 22nd, 2011
I ordered my annual free credit report from all three major reporting companies (Experian, Equifax, and TransUnion), but the free reports do not include a credit score. As I understand it, the companies score your credit differently, so your scores may be slightly different from one to the next. I’d like to see my scores, but I’d rather not pay for a score from all three companies. Which one is the best one to choose?
In this case, “best” may mean that it’s the one most commonly used by mortgage companies, that it is most in agreement with the other two companies’ scores, or some other factor. (Just explain.) Factual info and personal experiences welcome!
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10 Answers
Our mortgage company uses Equifax.
@ratboy Does the free report from there include the credit score? I see something called credit score simulator, but that doesn’t sound like a real credit score.
@YARNLADY: They provide two scores. Here are the blurbs:
The standard Credit Score on CreditKarma is the TransRisk New Account Score provided by TransUnion. This risk score represents your liklihood of deliquency or non-payment of credit obligations. This score is based on information in your TransUnion credit report and ranges from 300 (minimum) to 850 (maximum). The score is calculated using TransUnion’s proprietary model for assessing the credit risk of existing accounts and was constructed using a selected group of factors drawn from your credit records at TransUnion.
VantageScore is a new credit scoring model created by America’s three major credit reporting agencies to support a truly consistent and accurate approach to credit scoring. This new score provides lenders with nearly identical risk assessment across all three credit reporting companies. Your VantageScore on Credit Karma was calculated based on information in your TransUnion credit report and follows a familiar academic scale for ease of understanding: A (901–990), B (801–900), C (701–800), D (601–700), F (501–600).
Clark Howard recommended this service, for what that’s worth.
I know I am going for a mortgage right now and they pulled it from all three reporting agencies and used a service to have all three on a report and revieved for them. So if you are looking to get a mortgage you don’t want your credit pulled to often because that alone can lower your score.
I second @ratboy‘s suggestion. Lurve to Clark Howard, too You should never pay to receive your credit score. You get a free report from each company once per year.
@SpatzieLover, the free credit report does not include the credit score. Too bad for me, since that’s the main thing I was interested in seeing! I guess maybe the score is proprietary info, whereas the rest of the info is consolidated info that you could already know. (Your old addresses, whether you’ve paid your loans on time, etc.)
I agree, of course: there’s no reason to pay for a credit report. Well, maybe unless you are worried about fraud and already viewed your free reports for the year.
All of the free ones I have ever gotten do have the credit score. As a matter of fact, our credit union ran my husband’s last one for free.
Anytime you apply for a loan or credit card you have a right to order a copy of the credit report regardless if you are approved or not. I just wouldn’t be having your credit report run too many times because it will lower your score and/or have a negative impact when they look at it and that is something you don’t want.
When I got my 3 free credit scores from CreditReportPlace.com I received my credit scores, so maybe you need to look into another service. I am not sure there really is a good option out there to find just one credit score, even if you are paying
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