03-01-2013 05:24 PM - edited 03-01-2013 05:25 PM
I had students loans that were transferred to a servicer and EX didn't update and put that it was transferred, so its showing as double on my credit report. Anyways, I disputed it and am still waiting for it to be fixed. Should I expect my EX score to pop up to the same as my EQ score since the reports will be identical at that point? The scores are different by almost 60 points. Its been like this for a long time, I just recently realized that its reporting as double on EX...
03-01-2013 05:34 PM
Also, what effect will paying them off have? Would I get a boost in score or a drop since I dont have anymore installment accounts? The loan is split into 2, one was opened 7/1/2005 with a current balance of 2,816.00, high/original of 4,422.00 the other was opened 10/1/2003 with a current balance of 1,273.00, originally 1,999.00...
Maybe I could pay off one? Would that help with my scores? My plus scores from USAA are 718-EX, 771-EX and 736-TU (TU is reporting 60 days late on one of the loans, I cant dispute it anymore online, deferment issue, I'd have to send letters.)...
03-02-2013 08:54 AM
No, they most likely wont be the same.
Each CRA licenses its own custom version of the scoring algoritm from FairIsaac.
They should be close, but not identical.
03-03-2013 06:32 AM
Scoring between the different Credit Bureaus even with Identical information, is super rare to match.
The Credit Bureaus use different models and versions to obtain their scores.
Equifax is a Beacon 5
Experian is a V2