FICO/Equifax scores different

[dwh164]

Got a 3-in-1 from Equifax today while I'm trying to work stuff out. It's fairly different from my FICO Equifax report. Experian's a little different on all three of my current reports- FICO, Equifax, and Experian's own site.

Is this pretty standard, to see different listings from one medium to the next? I mean, obviously, the Experian report I get from Experian's probably more accurate than the Experian report I get from Equifax and vice versa, but what about the differences on the FICO report?

Thanks-

[RobertEG]

dwh, this is a source of much confusion, so I will give you a mini-FICO101.

The three CRAs are the repositories of the data used to generate all credit scores.  Each have their own credit reports based on their CRA data.

But scoring is much different.  There is no such thing as an EQ, EXP, or TU score.  Each of the CRAs run their data through whatever scoring algorithm you choose to purchase.  If you dont purchase your score from myFICO, then it is probably not based on the Fair Isaac industry standard scoring algoirithm, and thus is not what most lendors use.  The CRAs also, based on their data, market and sell other scores based on their own scoring algorithms. Their alterative is called the "Vantage" score.   Many call these "FAKO" scores, because they are not FICO scores.

Bottom line:  most lendors use FICO scores.  You must know which scores your lendor is using.

As the age-old adage recites, "caveat emptor!"

No score is better than the other, but the vast majority of lendors use FICO scores.

Know what your lendor looks at.  It is probably FICO.

Message Edited by RobertEG on 06-17-2008 12:16 AM

[dwh164]

I realize now that I worded my subject line in a misleading way.

I'm not talking FICO vs FAKO *scores*- I didn't even bother paying the extra $$ for a FAKO. Just got the raw data. And *that's* what's different- the actual data listed. It varies in several ways from Equifax's 3-in-1 report to FICO's reports to Experian's report. I could literally make a list of what's different on my Experian report alone based on the data reported by the three agencies above.

I understand there's a difference between what's reported through each of the CRA's, but I mean just the data supposedly coming from Experian itself is different when filtered through each of these media.

So how can that be? Maybe this would help- when Equifax pulled my 3-in-1 credit report, where exactly did they get the data for the other two agencies? Was it directly from the other CRA's, or is there another repository for info? That could explain some of the differences in data, anyway.

Any ideas?

[BungalowMo]

dwh...at the risk of airing your dirty laundry, can you give a specific or two on the discrepancies you're seeing?  Don't worry....our dirt is posted all over these boards.  Nothing you can post will shock anyone.  Whatever it is...someone out here has likely done it.

Also, if you do purchase your equifax score thru equifax, that score IS in fact a FICO score.  They say so on the site. Besides that, all scores should be purchased here.

[dwh164]

It's taking some time- now that I've gotten paranoid about it after seeing several discrepancies, I'm going through everything with a fine toothed comb.

On Experian, it turns out there's not that much different. One loan which I believe to be a duplicate, and several which I'm fairly certain are new loans that are reflective of my student loan servicing center switching my actual lender a few times.

But on Equifax, whew! It's not really Equifax that's the problem. The actual Equifax report seems accurate so far. But FICO took three of my 120-day late student loans from 2005 and duplicated each of them. Thus- six 120 day lates rather than the actual three. There are two more which, as with Experian, I think are "duplicate" only because I think the lenders got switched around- I'm still investigating these two with my servicing center.

Haven't gotten to Transunion yet. On the surface, it looks okay.

Has anyone had this problem, with FICO making two entries for one loan as reported on the actual CRA report?? I talked to a CS rep at FICO who pulled the report and is puzzled as well. She said maybe a glitch with the way Equifax coded/scripted them. At any rate, they're on the case, and are working on it.

Odd, huh???

[BungalowMo]

  I remember reading a comment from either one of the Mod's or one of the super contributors.... Sort of wierd to explain but...your actual FICO scores come directly from the report it sees from the CRA's.  "fico" then takes the report information & copies/interprets it & puts it here where you see it when you buy your score.  This "interpretation" of information is sometimes a bit skewed.  But as long as the info on your reports directly from the actual sites (not myfico...not true credit) is all correct, then the FICO scores you buy here will represent that.

Have I muddied the waters enough for ya?? 

[Anonymous]

EXP reports come out funny on EQ's 3 in 1 report-

Look at the # of lates-

I can go into details if you need it-  

[RobertEG]

I concur (I think) with bungaloo.  FICO does not appear to be the problem.  FICO does not independtly generate credit scores.  They sell their software to the CRAs, who then use their data to run through the algorithm.  I would file an immediate dispute with the CRA under section 611 of the FCRA, requiring them to make an immediate investigation and resolution of their improper duplication/reporting in your CR  That is where the rubs lies.

CR inaccuracies do not evolve from FairIsaac, and thus FICO is not the point of dispute.

Message Edited by RobertEG on 06-18-2008 10:44 PM

[Anonymous]

I agree. Duplicates are usually very easy to get removed. Duplicates can be good if it's an account that is older than your average age of accounts and has no negative information in it. You only want to dispute duplicate negatives (although I have seen cases where a duplicate negative removal was actually worse for your FICO because it was so old and was helping more with the average age than it was hurting with the negative). Welcome to the complex world of FICO ;-)