Your Results Might Differ

You need to know about a few more complications.

Although all three bureaus use the FICO scoring model, the actual formulas differ slightly from bureau to bureau. That’s because the way the bureaus collect and report data isn’t exactly the same. It’s unlikely that these differences would have much impact on your score, but you should know that they exist. You’re much more likely, though, to have different scores from bureau to bureau because the underlying information is different.

As discussed earlier, lenders can have their own in-house scoring formulas in addition to, or instead of, using FICO scores. Lenders also can use different “editions” of the FICO formula. Just as not everyone updates to the latest computer operating systems when they’re released, not every lender uses the latest versions of credit-scoring formulas.