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· Posted on
February 21, 2024

Why is my credit score different depending on where I check it?

Different credit scores can be confusing AF, so we explain why this happens.

What's the key learning?

  • We have three national credit reporting bureaus (or agencies): Equifax, Experian and Illion
  • Each reporting bureau has its own algorithm when calculating your credit score,
  • Each reporting bureau has different data sets
  • Each reporting bureau uses different scoring scales

Your score might be Excellent at one agency, but only Very good at another. 

We know, we know. This is damn frustrating and confusing AF, Flux fam. But there is a reason for this.

Different credit reporting agencies have different methods of creating your credit score. This means that, depending on where you check it, you’re likely to find that they are not the same. Helpful, we know! 

Let’s look at a few reasons for this.

...mind blown yet?!


Different credit agencies use different algorithms

There are a few ways to solve for X, right? In Australia, we have three national credit reporting bureaus (or agencies): Equifax, Experian and Illion. And they all solve for X differently.

Each reporting bureau has its own algorithm. So, while they may all look at the same factors (repayment history, credit limits, good or bad debt), they might assign a different weighting to each factor. 

This means one reporting agency might place a bigger emphasis on repayment history, while another might place a bigger emphasis on the type of credit you’ve accessed.


Different credit agencies can access different data sets

Not all credit providers (like your bank or lender) will report your repayment data to every single credit reporting agency at the exact same time.

So, because different agencies can have different sets of information, your credit report will vary depending on who you check it with.


Different credit agencies will have different scoring scales

Equifax credit scores sit on a scale of 0 to 1200. Illion and Experian credit scores sit on a scale of 0 to 1000. For reference, Flux uses Equifax, the largest credit bureau in Australia, to retrieve your credit score. 


Depending on which credit reporting agency you enquire with, your credit score will be different. However, the higher the score the better.


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