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I recently purchased the FICO Kit Platinum.
Equifax Score: 703
TransUnion Score: 814
Note: I am currently undergoing a dispute with Equifax on a delinqunecy which is bogus and should assist with greatly improving my score. However, when comparing apples to apples, the following confuses me.
In the "Understanding Your FICO Score" section:
TransUnion states in GREEN:
You have an established credit history.Your oldest account was opened
20 Years, 2 Months ago
FICO High Achievers [?] opened their oldest account 19 years ago, on average.
Average age of your accounts
10 years
Most FICO High Achievers [?] have an average age of accounts between 6 and 12 years
Equifax states in RED:
You have a short credit history.Your oldest account was opened
20 Years, 2 Months ago
FICO High Achievers [?] opened their oldest account 19 years ago, on average.
Average age of your accounts
11 years
Most FICO High Achievers [?] have an average age of accounts between 6 and 12 years
What am I missing? How can one agency consider the same numbers to be bad and another consider it to be good? How are we to satisfy the guidelines of both agencies in an effort to improve our scores?
Thank you in advance to anyone who can help me understand this difference
@Anonymous wrote:I recently purchased the FICO Kit Platinum.
Equifax Score: 703
TransUnion Score: 814
Note: I am currently undergoing a dispute with Equifax on a delinqunecy which is bogus and should assist with greatly improving my score. However, when comparing apples to apples, the following confuses me.
In the "Understanding Your FICO Score" section:
TransUnion states in GREEN:
You have an established credit history.Your oldest account was opened
20 Years, 2 Months agoFICO High Achievers [?] opened their oldest account 19 years ago, on average.
Average age of your accounts
10 yearsMost FICO High Achievers [?] have an average age of accounts between 6 and 12 years
Equifax states in RED:
You have a short credit history.Your oldest account was opened
20 Years, 2 Months agoFICO High Achievers [?] opened their oldest account 19 years ago, on average.
Average age of your accounts
11 yearsMost FICO High Achievers [?] have an average age of accounts between 6 and 12 years
What am I missing? How can one agency consider the same numbers to be bad and another consider it to be good? How are we to satisfy the guidelines of both agencies in an effort to improve our scores?
Thank you in advance to anyone who can help me understand this difference
Based upon the limited info you posted, it appears that something is screwy with EQ. At 20 plus years oldest account and 11 plus years on AAoA, you have an age that is GREAT compared to ANY bucket, regardless of all other factors.
I would hold the TU and EQ side by side and go over each reported account with a fine tooth comb and see if you can identify anything that is different between your reported accounts on each report. Note ANY differences in any dates, comments/remarks, status, etc. Then post those.
Is the same "oldest account" reported on both reports? TU showed 10 years average and EQ 11 years average. Is there an account reported on one that is not on the other, or are the dates different between the two (on specific accounts)?
FICO is calculated based upon the Credit Report content data. If that data is somehow not coded or categorized correctly, it can skew the score results. This shoud NOT be a negative comment based upon the ages being reported.
Thank you both for the information and advice. I will do a side by side comparison and post the differences. Again, I am going through a dispute with EQ on an account which does show on EQ but not TU as it was requested by the creditor 3 years ago to be deleted from my file. EQ did not honor the removal obviously and therefore it has been showing on my report for 3 years without my knowledge. TU did honor the removal 3 years ago.
I guess it was just confusing why the delinquent account showing on EQ would affect the comments on age of my account and average age of accounts. I wouldn't think the two would cross paths but I do not have deep insight into how the calculations work....that is why I am relying on you folks.
I will try to complete the comparison tonight and post the results.
Thank you