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My Credit Scores Equifax 739 - TransUnion 812 - Yours?
August 24, 2020
4:48 pm
Save2Retire@55
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I didn't expect this big gap between the two but I got access to Equifax through Desjardins Protection due to their recent breach. I had a BestBuy CC provided by Desjardins which I used to finance (0%) payments of full house appliances for 3 years.

My current situation is as below:
Mortgage - 0
Installment - 0
Revolving CC - 5 with $23 balance and total Credit limit of $31200
Others - 0

It is weird they still think I am just very good and not Excellent in TransUnion. Not that it matters but just interesting.

August 24, 2020
8:18 pm
Vatox
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Equifax 850, no debt and CCs paid in full each month.

August 24, 2020
11:23 pm
Canadianbull
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Transunion = 867

August 25, 2020
5:38 am
Alexandre
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Transunion = 862

August 25, 2020
7:22 am
Londonguy
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TransUnion = 900 and Equifax = 845

FWIW my Equifax has always been lower -- different scoring algorithms

August 25, 2020
12:10 pm
fbeaulie
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Bigger gap for me:

Transunion = 865
Equifax = 765

August 25, 2020
1:52 pm
Vatox
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Just checked my Transunion, it’s lower! 770, Equifax 850. Weird.

Not that I care, I don’t borrow money.

August 25, 2020
2:33 pm
tommy8675309
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Transunion (Credit Karma): 867
Equifax (Borrowell): 828

August 25, 2020
2:35 pm
Yatti420
Canada
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808 TU (Cap 1 Card)
802 EQUIFAX ERS2.0 (BOROWELL)

All you guys own big houses I guess 😉

August 25, 2020
3:14 pm
fbeaulie
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Vatox said
Just checked my Transunion, it’s lower! 770, Equifax 850. Weird.

Not that I care, I don’t borrow money.  

I borrowed money to buy a car (interest rate 0.99% for 2 years* - I was making more than that (even after taxes) in some of my HISAs - currently 2.8% until the end of August) and it looks like it had a positive impact on my TransUnion credit score but changed nothing for Equifax.

Waiting to see if I will get another promotional offer from Tangerine at the beginning of next month...

*They were also waiving $500 on the first 3 payments. The interest rate is therefore, in fact, negative in my case.

August 25, 2020
3:24 pm
Norman1
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To lenders, the exact score doesn't matter once it is above 700. 700+ is considered excellent.

Also, keep in mind that those free credit scores from Equifax and TransUnion are not the FICO scores that many lenders use.

August 25, 2020
6:45 pm
Save2Retire@55
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Nice Credit Scores. It is also interesting Equifax tells me I am doing better than 35% of Canadians when it comes to my score. I didn't know 65% of Canadians have an 800+ score. It is interesting when reading all the debt news and how much people owe in debt and mortgage, etc.

I guess the trust goes to those who take more 😀

PS. I only once missed paying my CC in full so this might be because I never had a car loan.

August 25, 2020
9:50 pm
Loonie
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i wouldn't put too much stock in that 35% figure (or in their precise scores).
It says you are doing better than 35%. It doesn't say anything about the other percentages. You may also be doing better than 90%, but they didn't comment on that. They may have chosen not to break it down any further.

I don't know what mine is and don't really care. It was in the high 700s on the one occasion a few years ago when I accidentally found out when a banker volunteered this information. I've never had a car loan either, FWIW.

August 26, 2020
8:01 am
fbeaulie
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With TransUnion (I haven't checked Equifax) you can click on "What is impacting your score?".

When I first looked at it, I discovered there that their scoring algorithms do not like it when the balance on a credit card exceeds 35% (or 50%, it was not clear) of the credit limit even if the balance is paid in full every month.

Before discovering that, I used to systematically call credit card companies to lower my credit limits when it was clear that they were unnecessary high.

What really matters is that, as Norman1 wrote, serious lenders do not rely on these free credit scores (otherwise, they would miss out on the best clients!)

August 26, 2020
9:27 am
Dean
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.
Some good comments & info above ... Thanks ❗ sf-smile

I haven't checked my Equifax score in a while.

My most recent Transunion Score = 854

'Carpe Diem',

    Dean

sf-cool " Live Long And Prosper " sf-cool

August 26, 2020
10:13 am
Yatti420
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Since most of you are over 810.. Do you have mortgage and or car payments.. Utilization rates?

August 26, 2020
12:26 pm
Alexandre
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Yatti420 said
Since most of you are over 810.. Do you have mortgage and or car payments.. Utilization rates?  

Transunion = 862

No mortgage
No car lease/financing
Not using line of credit
No CC balance and never was

Multiple credit cards
Closed two banking accounts last year
Closed one credit card last year

Never knew my credit score, until conversation on that forum made me look.

Yes, I know: boring life. 🙂

August 26, 2020
6:13 pm
Save2Retire@55
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Loonie said
i wouldn't put too much stock in that 35% figure (or in their precise scores).
It says you are doing better than 35%. It doesn't say anything about the other percentages. You may also be doing better than 90%, but they didn't comment on that. They may have chosen not to break it down any further.

Hi Loonie - So there is a table which says

300-560 4%
560-660 10%
600-725 15%
725-760 14%
760-900 57%

With a note: Your score of 739 is better than 35 % of Canadian consumers.

I have no idea why they divide it the way they did but obviously 57% of Canadians have a score above 760 based on Equifax chart!

August 26, 2020
6:19 pm
Save2Retire@55
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fbeaulie said
When I first looked at it, I discovered there that their scoring algorithms do not like it when the balance on a credit card exceeds 35% (or 50%, it was not clear) of the credit limit even if the balance is paid in full every month.

For TransUnion, I am just using what RBC is providing. I had a CC long time ago with them (Cancelled since) but I can still log in and check my score once a month.

I have $31200 Credit and I don't even hit $1500 on all of them per month. The only time they go above is when we used to do something called "Travelling".

What I do however, is cancel and get new credit cards for the bonuses and I do that 2-3 times a year so I guess that's what causing this score.

August 26, 2020
6:22 pm
Save2Retire@55
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Alexandre said

Transunion = 862

No mortgage
No car lease/financing
Not using line of credit
No CC balance and never was

Multiple credit cards
Closed two banking accounts last year
Closed one credit card last year

Never knew my credit score, until conversation on that forum made me look.

Yes, I know: boring life. 🙂  

This is an ideal life 🙂 I am in the same situation exactly except I didn't close banking accounts. I closed 1 Credit Card this year and 2 last year. Got 2 new CC this year.

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