cancel
Showing results for 
Search instead for 
Did you mean: 

Interesting read: Experian Lawsuit

tag
fused
Moderator Emeritus

Re: Interesting read: Experian Lawsuit


@ronniejr wrote:
 

I really want to get my EX FICO score.  Does anybody know if the bank in PA is still offering EX FICO scores?


I'm not entirely sure. You might want to post that question in the general credit topics forum.

Message 11 of 25
teenastie
Established Contributor

Re: Interesting read: Experian Lawsuit


@ronniejr wrote:

yeah I read that too.  I noticed a huge jump the last month in my fico TU score.  Did MyFico finally switch to TU04 yet?

 

 I am also a member of Equifax and monitor my vantage scores the past year. As of 10/21/2011  my scores are very VERY consitant  with Fico and vantage:

 

FICO: TU695,  EQ695

 

VANTAGETU694,  EQ696,  EX692

 

I really want to get my EX FICO score.  Does anybody know if the bank in PA is still offering EX FICO scores?



This is interesting that your scores are close initially. However, you have to take into account that the vantage score is ranged from 501-990. At first glance you may think that vantage has a close representation to your Fico score. However, if you look deeper into your scores vantage is essentially telling you that your scores are mediocre because according to vantages' scoring method you have nearly 300 points to get you to a perfect score. Your Fico score are actually stronger according to scale (only needing aprox 150 pts to get to 850). Not to mention if you sneeze your scores will probably fluctuate immensely in either direction due to their inconsistent and very different algorithms. Be wary of those scores it has gotten many of us in trouble Smiley Wink



Message 12 of 25
ronniejr
Valued Member

Re: Interesting read: Experian Lawsuit

teenastie you are soooo right about sneezing and the score changing.  If I show a 0 balance at the end of the month ALL my scores drop.  (if 1.00 is left then they stay the sameSmiley Happy.  I just checked equifax and my score is now 692.  And I did nothing.. ha!!! 

Message 13 of 25
ronniejr
Valued Member

Re: Interesting read: Experian Lawsuit

interesting to say the least.. damn..

Message 14 of 25
marty56
Super Contributor

Re: Interesting read: Experian Lawsuit


lithium78 wrote:

I hope the lawsuit is a victory for consumers against Experian.  It is fraud -- plain and simple.


I wish a had a dime for everytime I didn't read the fine print carefully and just one time maybe it was really fraud and not my bad.

 

Many people here (myself included) have at one time fell for the FAKO score and the desire of it to be our real FICO score or at least help to predict it.

 

If a jury is stupid enough to rule against EX, it would be funny if the settlement would be a year of score monitoring from EX.  Providing their FAKO plus scores of course. Way too funny.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 15 of 25
ronniejr
Valued Member

Re: Interesting read: Experian Lawsuit

I was totally wrong about my vantage scores.  Without reading the fine print I was really getting Equifax scores.  oops.  Still new to this Smiley Happy

Message 16 of 25
marty56
Super Contributor

Re: Interesting read: Experian Lawsuit


@ronniejr wrote:

I was totally wrong about my vantage scores.  Without reading the fine print I was really getting Equifax scores.  oops.  Still new to this Smiley Happy


Not to worry.  everyone in this forum learns something new about credit and credit scores.  Since Vanatge scores are actually used, they do have a value and if you have a very good or very bad Vantage score, chances are your FICO score would be very good or very bad as the case may be.  The problems start when we look for score movement in a FAKO to predict score movement in FICO.  Also be careful of any FAKO advice to improve your FAKO score.  It could have the oposite effect on your FICO score.

 

IMHO Vantage scores seem to be more forgiving with old major derogs since I vary between A and B on my vantage scores and I won't have an 800 credit score till August.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 17 of 25
ronniejr
Valued Member

Re: Interesting read: Experian Lawsuit

Thanks Marty.  I canceled my Equifax membetship.  Not needed.  MyFico has been good to me.  I am at  EQ:  695 and TU:  695.  Been basically at these two scores for about 6mos,  Got 4 baddies and they should all  age off in a little less than 2 years.  (bunch of paid off chargoffs - 3 in full - I owed it so I paid it).  My question is should I get my real Vantage scores to see where I am at with them?  And which  CMA should I use?  I also have also noticed that MyFico uses TU98 and not TU04.  Are they that much different?  thanks again. 

Message 18 of 25
llecs
Moderator Emeritus

Re: Interesting read: Experian Lawsuit

Try sending GWs to any younger COs.

 

Only consider Vantage if you have a lender that pulls Vantage, though your chances of finding one that does pull Vantage are slim to none. Never compare FICO to Vantage. Aside from the score range of 300-850 vs. 501-990, FICO includes stuff that Vantage does not, and vice-versa. You can easily be 30-50-100+ points off between the two.

 

When choosing a CMS, do not buy the CMS for the scores. Buy it for the report content. As changes occur to the reports, then come back to myFICO or get the FICO from your lender and compare that way. There are only a few rare places that offer a FICO score and 99% of the CMSs out there do not offer FICO scores. Choose a CMS based on your needs. Some allow daily pulls, weekly,  monthly, quarterly, etc.

 

As you may know, most lenders use TU04 vs. TU98, though there are some lenders that still use TU98. When comparing TU04 to TU98 on the same day, you might find some differences in the score. IME, mine was 10 points lower and DW's was 30 points higher when compared on the exact same day. YMMV. There are a few subtle differences that can throw your score off.

 

 

 

 

Message 19 of 25
ronniejr
Valued Member

Re: Interesting read: Experian Lawsuit

You might find this interesting:

FICO

TU:695 (if I pay is down to 0.00 it drops?) , 

EQ:  697.  Same exact scores for 8 straight months (when I keep my CC balance at around 20.00 at statement time)

 

basically my scores have been the same for almost a year.  690+ for over a year.

 

VANTAGE

TU: 762-778 (if I pay off my CC to 0.00 then it drops?)

EQ: 775

EX: 770

 

I have a really simple Credit report.  About 10 accounts from the past, 5 are baddies (4 PIF chargeoffs) and 1 paid in full collection.  Oldest account is 13 years old. Average age is 11 years.  Only 1 CC now (Amex Optima with a 1000.00 limit)  I use every penny of it every month and pay is down to under 20.00 by the statement date (usually the 17th)   All the baddies around the same time (5-6 years ago)  I have literally '0' dept.  I rent.  Dont own a car or house.  Walk to work.  easy peasy life.  My question is

 

1.  why is both TU fico and TU vantage soooo sensitive to an account balance change?  I had a -29.00 balance on my Amex 2 months ago and my Vantage TU rose to 778 but my FICO TU dropped to 682.  Last month I closed with a 17.00 AMEX balance and my FICO TU rose to 695 again but my VANTAGE dropped to 762.  huh?  hahah.  exactly.

 

for a guy like me who is borderline with decent to good credit scores this few point difference could mean thousands in savings if I decide to make the plunge and buy a car or a condo. 

 

Message 20 of 25
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.