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Posts: 2
Registered: ‎03-18-2007
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Drastic reduction - unsure why!

My scores were in the high 600's until my husbands collection showed up on my report.  It is from an accident and the lawyers told us not to pay until we get our settlement.
 
Meanwhile, I paid the cards down and got my scores back up. Then two weeks ago I bought a new car, and while TU and EQ scores stayed the same, my Equifax dropped by a lot.Smiley Sad  I can't figure out why! When the dealer ran all three reports, the scores ranged from 652 to 682. But Equifax dropped to 591.
 
Can anyone tell my why that might be?  Thanks!
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
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Re: Drastic reduction - unsure why!

Do a side by side of the two EQ reports before and after the plunge. What changed?
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in a credit-scoring postnuclear Stone Age...
Established Member
Posts: 45
Registered: ‎05-02-2007
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Re: Drastic reduction - unsure why!

I have a problem with my scores also.  Myfico scores for EX & EQ have a 40 point difference. The TL's and balances are exactly the same. The full reports are completly identical !
 
I asked the myfico reps why there was such a big difference in scores and the explanation that I received from her was that " Each bureau uses a different score module, but the difference should never be greater than 100 points".
Moderator Emeritus
Posts: 273
Registered: ‎04-13-2007
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Re: Drastic reduction - unsure why!

[ Edited ]
Don't forget what I believe Tuscani said about an auto-enhanced fico score it is possible that it isn't her fico from myfico. I would pull just to double check if you can. But then again the only score that is considerably lower is EQ. Shouldn't you be taking a hit for the collection, inquiry, and the purchase of a new loan? At least initially?


Message Edited by LadyFICO on 05-12-2007 04:50 PM
Regular Contributor
Posts: 252
Registered: ‎03-16-2007
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Re: Drastic reduction - unsure why!

[ Edited ]
Experian uses a richer data set. For example, on EQ and TU, you can't see what specific utilization was over the past, but with Experian's, you can.

Message Edited by Skiffy on 05-13-2007 01:40 PM
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Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: Drastic reduction - unsure why!

Check out the auto scoring thread... the scores the dealer pulled will not be the same you see on MyFICO.
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