two different credit scores?

my husband and i have been working on our credit score to purchase a house... we checked our credit about a week ago, and on transunion it says that he has a 664 and mine was 621. so in that case we found someone that can help us get our house.. they pulled our credit and they said that we were in the 500's with equifax or experian whoever it was... how can that be?? im so confused.. and really down... plus i have found inaccuracy's on my credit score. i am disputing them.. how does that work? how long will that take?

Public Comments

1. All three companies have the possibility of having different scores because companies are not required to report their information to all of them. Usually when you are applying for a house, they take the middle number of all three as your credit score.
2. It can perfectly be because the 3 bureaus work with different information. I would recommend you to sign up for a company that monitors your credit on a daily basis. In case of identity theft, they help you out. The best is CREDITSECURE by American Express: https://www124.americanexpress.com/cards/loyalty.do?page=creditsecure And with all my respects, if you are planning to buy a house, you should wait until your credit score is higher than 700, or else you will get a very high APR.
3. Answer: first each agency is different, credit scores can range on all of them. You one step ahead of most people knowing how to get a copy of your report. 80 % of people are in the mid 600's to low 700's, I would get a copy from experian, and eqifax and see what was on the report. If you filed a dispute they have 30 days to respond to that dispute, if they can not verify the information they must remove it. There are laws and goverment agiencies that you can contact if they do not follow the proper procedures. Since your one step ahead keep a copy of your disputes, send information certified return mail, this way you have a record of your actions. You can go on-line to file disputes print off a copy, documintation is a must for your records! usually on a loan they will combine all the scores and come up with an average.to do that take all three of your credit scores and divide them by 3, this should give you an average score. If your average is over 650 you should not have to many problems with a home loan.
4. That confuses the heck out of many folk; why your credit score is different each time its pulled by a different person. The reason is because there is more than one credit score and it all depends on who is requesting it and why. This is because different formulas are used to compute each score depending on the situation. There's the auto formula (used when auto dealerships pull your credit), there's the consumer formula (used when you pull your own credit), there's the tenant formula (used when you are renting an apartment) and there's the FICO score, which is the most widely used especially when applying for a mortgage or a credit card. The FICO score therefore is what you should be most concerned about. The three major credit bureaus also use different formulas in each of their assessment regarding your score. When your credit is pulled from all three bureaus the middle one is used.
5. You can get credit report absolutely free. You're entitled to get one report from each of the 3 credit report companies once every 12 month. You're allowed to review it for 30 days. This will not give you FICO score or credit score. You don't have to join some company that offers to monitor your credit history unless you want a monthly report. They get your credit history from these companies anyway (transunion, experian, equifax). https://www.annualcreditreport.com/cra/index.jsp So for example get one from transunion for now then after 3-4 months get experian then after 3 months get equifax. They don't have identical credit reporting one has loan A but the other doensn't show your loan A also one will show employment #1 and the other doesn't employment #1 in their record. I read FICO score is obtain from myfico.com Look it up not so sure. I get fico score from wamu credit card account via transunion. Not sure if this is a real FICO score. They post it online in my wamu account. I read somebody referred to it as "fako".
6. You want to go to www.annualcreditreport.com. Order all three credit reports (you have three scores - you qualify under your middle score). Go through each report, line by line, and file online disputes with the stuff that is inaccurate. Check up on it periodically to make sure the information is being updated. The timeframe can take probably 30-90 days. Also, by opting out of future pre-approved credit offers, you can raise your score 7-20 points very quickly. Do this by visiting: www.optoutprescreen.com. For more tips, contact me.
7. All three credit bureaus have their own way of calculating your score and all lenders do not report to all credit bureaus. Add to this that there are 3 types of credit bureaus as follows; 1.Standard, this is the one you get on line or credit card companies look at. 2. Auto enhanced, this is the one dealers and auto lenders look at. 3. Factual, this is the one that mortgage companies look at. This means that everyone can have up to 9-different credit scores. I look at credit every day and it's not uncommon to see a 100-point spread due to some lenders only reporting to one bureau. As far as the dispute, they have 30-days to prove that the information is correct or they must remove it, so this can take anywhere from 45-60 days depending on what day of the month they update your scores.