Reply
Frequent Contributor
Posts: 371
Registered: ‎09-17-2012
0

Advice on FICO 04?

Hi,

 

I have credit scores from all 3 bureaus from recent apps.

 

EX: 757 (FICO 08) - 10/9/13 BOA pull
EQ: 681 (FICO 04?) - 10/9/13 Cap1 pull
TU: 762 (FICO 98 or 08?) - 10/27/13 Barclay's pull

 

I purchased MyFico EQ04 and TU98 a couple of times a few months back and each time, I had a big difference between them with EQ04 always being lower than TU98. I noticed that the credit report from MyFico would give me "too many accounts with balances" as one of the reasons my EQ04 was low while it didn't give such reasons to my TU98 even though the two CRs have almost identical contents except for a few inquiry differences.

 

The Cap1 pull and another pull I had recently were both EQ and I suspect they were 04 judging by how much lower they were compared to EX and TU.

 

It seems that something about my credit picture doesn't not click with the Equifax FICO 04 Beacon 5.0 model and I would like to know what that is.

 

Anyone have any advice?

 

My util is low each month around 4% or so.

I PIF every month.

No bad records ever.

Credit history is 2 years a 2 months old.

AAoA is only 9 months due to recent app spree.

 

Thanks in advance.

[10%+] Internet, Cable, Cell phone
[5%] Gas, Grocery, Amazon, Airline tickets, Drug Stores, Dept. Stores, Target, MyHabit
[3%] Restaurants
[2%] Everything Else
Highlighted
Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Advice on FICO 04?

CBs use different algorithms when scoring profiles. New accounts or inq's may ding your reports in varying degrees. It is possible that your low AAOA is being scored against you on EQ as opposed to EX/TU.

Knowing that your EQ score is being harmed by new accts and if you just went on a spree, some gardening time is strongly suggested.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.