Do credit agencies use the same measurement?

Question

Do credit agencies use the same measurement?

Answer 1

no it depends whats its for, and how many times you apply for credit can bring your score down. for instance we could get a mortage with natwest but not lloyds as they use diff credit agencies. natwest are lending than others at the mo. but if you have something very bad on your account ...unsettled ccj or defaulted alot and not settled you may struggle.......although saying that alot of the time they will give debiters credit at a really high APR which is really unfair and can make matters worse

Answer 2

No.  For competitive reasons, each credit bureau has developed it own formula that it thinks is better.  They all follow the same principles though.  The scoring ranges can be different, so don't expect a score from one CB to be the same as another.  CBs also have multiple formulas because something that predicts a good customer for a mortgage doesn't necessarily predict a good customer for a car loan or a credit card.

Answer 3

Credit rating agencies vary significantly in their size, focus, and methodologies.