Ever wonder why your Credit Karma and Experian scores don’t match?✨
These two websites use different models to factor your credit score. The VantageScore model (as shown in the attached picture) is still not used as often as the FICO model, but it’s gaining steam with lenders.
The VantageScore tends to be better for people with little credit history. It also assigns a hierarchy to late payments, whereas FICO treats most of them equally. For instance, with a VantageScore, a late mortgage payment will have a larger impact than a late credit card payment.
This is why you may see that your Credit Karma scores for Transunion and Equifax are slightly higher or lower than your score through Experian’s website. Granted they are 3 separate bureaus, however the way the scores are factored on these websites differ tremendously.