Reply
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
0

Re: scorewatch



ilovepizza wrote:


MidnightVoice wrote:


so_confused wrote:
can I expect my true fico's from TU & EX to be higher or lower generally?


Yes. :smileyvery-happy:
In theory they should be similar, but the FICO from eash CRA uses a slightly different formula, some companies report to one and not the other, some of them update faster than others etc, etc.
For example, on a day last week, my EX was 61 points lower than my EQ which was 42 points lower than my TU. That is a 102 point range



Oh wow!! I learn something new ever day. The FICO is slightly different for each CRA? Or each CRA reports the data different to the FICO scoreing system. Either way, I had no idea. I thought FICO was calculated the same way for each model. Now I am confused. Please confirm I understand this correctly. I don't believe I have any room to take advantage of the differences in relation to score do I? I just only figured out EQ.

Yep. There is a different formula for each CRA. Another reason why scores differ.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: scorewatch

EQ is faster to update. Cheaper. FICO is nicer to look at. Tell you the truth if you don't have a lot of new stuff posting and don't need to follow along every day it would be best just to get your EQ report from FICO every two months. I pay $6.15 monthly for the EQ SW. I plan on doing that as soon as both FICO and EQ run out. TC does a good enough job of monitoring daily updates to the TL's for me.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: scorewatch

Sorry the previous answer was to pizza re: EQ or FICO SW.
Established Contributor
so_confused
Posts: 630
Registered: ‎06-20-2007
0

Re: scorewatch

Does anyone know how often scorewatch fico is updated?
9/18/08 TU=707 EQ=706 EX=702
Super Contributor
MidnightVoice
Posts: 8,157
Registered: ‎03-25-2007
0

Re: scorewatch

Whenever something changes on your CR.  For me, not much usually changes in a month now I have cleaned up as much as I can - I have a small number of cards, not used a great deal.  So in many months, it will be just everything is a month older
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
0

Re: scorewatch

[ Edited ]

so_confused wrote:
Does anyone know how often scorewatch fico is updated?

Weekly for Equifax's version of Score Watch, so they told me.

Message Edited by ilovepizza on 06-24-2007 11:50 AM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: scorewatch

I got four alerts on EQ SW this week.
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
0

Re: scorewatch

3 for me this week after a 1 month drought.

smallfry wrote:
I got four alerts on EQ SW this week.


Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
0

Re: scorewatch

Did you get 3 and 4 alerts on separate days? Or all 3-4 on 1 day?
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
0

Re: scorewatch

3 separate days. 20th 21st and 22nd.
Up, up down receptively,

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}