Why Are Mortgage Credit Scores Different Than Consumer Score?

[Masterodd]

Why are my scores so different – sometimes significantly — from what I see online. So what gives?

[Anonymous]

Credit score I think indicates that you on the past have a history of being able to take out a loan and pay it back when yiu are supposed, so if you don't pay loans back or have no loan history at all you will have a low credit rating which affects the amount of money you can get a loan for and maybe the intrest on loans.

I looked Consumer Score up and it seems to be about how much money you earn, how much money you spend, savings and what you spend it on. Banks may use it on deciding whether to give you a loan or a mortgage, so if you have a low credit score and a high consumer score (I'm not sure how it works) maybe the bank says no you are to much of a risk or up the intrest rate. The other thing is companies may use this information to target you to try to sell you stuff say if you spend a lot of money on clothes or shoes. Basically I think it relates to your data.

[DarkWinterNights]

Your credit score on sites like Credit Karma is an estimate, you can’t actually get your actual credit score without a hard pull. It has its purposes, but I think the credit score system is flawed. It’s basically social credit for capitalism.

[Masterodd]

what blows my mind is how it fluctuates every minute of every day.. today it is 744, tomorrow its 768, yesterday it was 756...
and the scoring system is whacked to 300 - 800 hmm. That means 550 should be the average but nooooo.

[DarkWinterNights]

Oh yeah and you’re punished for being too good with your money, or God forbid you exceed 30% of your overall credit card usage and your points drop by 100. It’s a control scheme. And with interest rates what they are, there’s no reason to really push to get to 800. The difference between a 7.5% mortgage and a 8.5% is still too much for the average person.

[Nemesis2k7]

They are not