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Established Contributor
Posts: 937
Registered: ‎07-17-2012
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Differences Between Reports

I took a look at my TU and EQ reports today.  I've found that the TU tends to be the most popular with lenders. I have 16 inquiries on there from my app spree and trying to refinance my car the end of last Summer. EQ only shows 3 inquiries. 

 

EQ shows that my AAoA is 8 years. TU shows 2.9 years (viewed at Credit Karma)

 

EQ score as of today is 671.  TU score viewed on my Walmart account is 650.

 

So I guess less inquiries and higher AAoA is contributing to the higher score. 


|****$8000****|****$8000*****|****$6000*****|****$2500****|****$1600****|****$3000*****|*****$1400*****|****$1350*****|
EX - 679 (MyFico 1/31/15) TU - 668 (Walmart 2/11/15 ) EQ 04 - 710 (DCU -1/30/15) EQ 08 - 686 (MyFico -2/10/15)
Moderator Emeritus
Posts: 7,970
Registered: ‎12-19-2007
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Re: Differences Between Reports

TU may be the most popular CRA based off of the region of the country that you live in and what the lenders subscribe to. Where I live, TU is king. If you are down south, it is probably EQ and out west likely EX.

 

INQs, AAoA, util, etc. all have a part to play in your overall FICO score.

 

Also, you will rarely be able to line up two reports from two different CRAs and have them report everything exactly the same.

___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
Valued Contributor
Posts: 2,262
Registered: ‎07-23-2012
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Re: Differences Between Reports


ByrdMan wrote:

 

Also, you will rarely be able to line up two reports from two different CRAs and have them report everything exactly the same.


aside from inq's all three of my reports are exactly the same =)

 

amex cs also lists same score for all three. 

 

@op here is something that might help. there was a little chart but cant find it at the moment. 

 

copy and pasted from sticky  Here

 

How is my score calculated?  (Author: Pammila)

 

 -35% affects Payment History. Meaning any lates; collections; charge offs; bankruptcies; judgments; liens or the such will hurt the score. All is time based, the older the information the less it is contributing to the scores.


-30% affects Utilization. It is best to have several accounts with low balances distributed then it is to have fewer accounts maxed out. To figure utilization: Balance (divided) by Credit Limit = percentage. Lower than 10% recommended per account, this is one of the fastest means for increasing the over all credit score.


-15% affects Established History. The longer you maintain open accounts with creditors the better. When first starting out of course this is not easy; but this is where getting added as an Authorized User to another persons established credit comes in best. Remember that the contributor must have an account that has long history; clean payment record; high credit limit; and low balance. Also need to check with the creditor to insure that they have a policy to report authorized user accounts to all three major credit reporting agencies.


Note: Authorized user accounts are the best way to go; since you are not legally responsible for the debt rather than Joint or Co-Signer accounts. Also, if this account starts to report negatively; these accounts are usually easier to remove from the credit reports by either contacting the creditor and requesting termination of the relationship; or disputing through the CRAs.


Update: In its original form, FICO 08 would not use AU accounts in scoring. It has been modified: FICO 08 now WILL continue to countlegitimate AU accounts. As of the end of 2010, the EX version of FICO 08 is only being used by a few lenders.

10% affects Inquiries. Don't apply for credit unless you know you can get it or that you need to get it; unnecessary credit inquiries are going to hurt the scores - especially if your over all credit file is small to begin with.



Tip: When applying for credit pull your own credit report first (this is a soft hit and won't drop your scores). With credit report in hand go visit your local banks or credit unions. Show them the reports; and don't allow them to pull a credit report of their own unless they can say for sure that you will be approved, this way you save your self unnecessary pulls on your credit report if they decline you. If they say yes, you are approved, then they will need to pull credit report to seal the deal.


Mortgage & Auto industry has special rules for inquiries: all applications for credit resulting in pulled credit reports within a 14 day period of time will only count as one inquiry & will be suppressed from affecting credit scores for 30 days. So if you plan to go shopping for a mortgage or a car, do your research first picking what companies you want to apply with and do this all within a 2 week period of time so that the scores are not affected too much.


-10% affects Mix of Credit. Use different types of credit (revolving; installment; auto; mortgage...) evenly.


Also remember the advice which a lender gives you is productive for getting a loan; but not always good for the credit scores. If they tell you to consolidate and close accounts be careful how you go about this, most people's compliance usually results in dropped credit scores. You are shrinking your overall available credit limit verses your balances... so remember you don't want to hurt the utilization by consolidating and closing accounts behind you.

 

 

Current: Discover Fico 682 1/15 Walmart Fico 684 1/15

Inquiries (24 Months): EQ 4 TU 1 EX 5 | Most Recent: 09/26/2014
Over 12 Months:6


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000

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