“Why are credit scores different for the same consumer across the different CRAs?” FICO gets that question apparently a lot, and tries to provide some answers in its recent banking analytics blog.
To be most valuable to a lender, a credit score must extract all the predictive power from all of the credit data about a consumer that is stored at that consumer reporting agency (CRA). This provides the most comprehensive and reliable view of the consumer’s credit risk.
That is a challenging task, but considering that lenders contribute data voluntarily to the CRAs there could be credit score differences across bureaus for a given consumer.
Joanne Gaskin provides answers to this important issue in her recent blog. To read the full blog click on this link
Source: FICO Banking Analytics Block
