Why would the car dealership come up with a different credit score than what I personally pulled?
Question by Justasking: Why would the car dealership come up with a different credit score than what I personally pulled?
I have my access open for Trans union to track my credit, as I recently paid off all my debt and am working hard to improve my credit score which, according to Trans union is a 680. Keep in mind that I also leased an apartment recently and they said my credit score had to be above 600 in order to qualify.
I went to the car dealership because my lease was up and I wanted to get into a new car. When they pulled my credit (they told me they pulled the Trans union one), they told me my score was 508. I almost died right there. When I told them something must be incorrect and pulled up my own profile I have access to, the leasing agent told me that I only have access to my “personal credit score”.
It sounds like a bunch of crap to me. I can understand that my score will vary slightly between the 3 different credit bureaus, but not by over 100 points!
Why did they come up with such a different score and should I be concerned?
Best answer:
Answer by Kristin Elizabeth
One credit score could be drastically lower than the other 2. If you had unpaid debt that has now been repaid, one credit agency may not have been notified of the repayment. Someone else’s social security number could have also mistakenly been associated with yours and hurt your score. You will need to pay to see all 3 credit scores then contact the agency with the 508 score to see where the discrepancy is coming from.
What do you think? Answer below!
One credit score could be drastically lower than the other 2. If you had unpaid debt that has now been repaid, one credit agency may not have been notified of the repayment. Someone else’s social security number could have also mistakenly been associated with yours and hurt your score. You will need to pay to see all 3 credit scores then contact the agency with the 508 score to see where the discrepancy is coming from.
Trans Union gives YOU a Vantage score. What the dealership pulled is an Auto (automobile) generated FICO score.
Lenders never ever use the scores that the 3 credit bureaus give to you. Those scores are developed by each credit bureaus own scoring system.
They are referred to as FAKO scores, because no one giving you credit uses them.
Google FICO vs FAKO, or even each term by itself. It will be an eye-opener!