My credit score from Mogo is different from the report on Equifax's website. What gives?

Last Updated: Aug 11, 2017 01:31PM PDT

Equifax is the bureau most widely used by lenders and has multiple scores available for clients to choose from. Both scores are unique to Equifax and powered by Equifax’s comprehensive calculations. We rely on ERS 2.0 from Equifax, a leading score used by a variety of lenders in various industries. The Equifax credit score you get directly from Equifax is ERS 1.0, which uses a slightly different model for weighing different factors in your credit history and is primarily intended for educational uses.

As is common with different score versions in the industry, these two scores use slightly different data and calculations to determine an individual’s score. One score isn’t more “correct” than the other! There are lots of scores out there and each lender will use the score that aligns with its internal lending practices. There is not just one accurate score per individual; there are many, depending on which lender is calculating it and for what purpose. It’s important to note that other information in addition to a credit score will be used by lenders when evaluating your creditworthiness.

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