How do CRAs weight different things?

[masscredit]

There are so many different scores out there. Nobody really knows the formular that makes up each one of them. But how about when it comes to the standard scores from the big 3 (EX, TU and EQ)?  Does one weight some things heavier than the others. Does some of them give more points for this and less points for that? Is there any way to make any sence out of all of this? I pretty much already know the answer to that question - no.  And I know that there is more to being approved for a loan than our scores but the scores are what we follow and when we apply for credit, what do they want to know... what is your score? 

I look at mine and compare my reports and don't see much of a reason to have a big spread.  Actually, EX and TU are close. EQ is much higher (especially the 04 version).  Maybe EQ doesn't ding as much for baddies? 

EX - 651 (MyFico 06/05/14) 

No inquiries in the last 12 months

4 liens

1 BK

TU - 659 (Walmart 06/03/14 ) 

1 inquiry - 5-2-14

5 liens

1 BK

EQ 04 - 699 (DCU -05/28/14) EQ 08 - 683 (MyFico -06/06/14)

1 inquiry - 1-31-14

4 liens

1 BK

[mongstradamus]

I am not sure how cra calculate their scores for me it seems the opposite occurs of how it should be calculated. For example my eq08 with same info as my tu08 with 5 less inquiries is a tad lower.I would think eq would be higher since it has same info with less inquiries but not the case ,

Ex 08 770- 8 inq missing 3 old closed accounts 

Eq04/08 802-3 inquiries 

TU 08 807-8 inquiries 

[Revelate]

Honestly?  NFC.

Utterly minor things in the reporting detail can produce non-trivial swings in score; FICO has stated that if everything is identical in the reports, the swing between the bureaus will typically be no more than +/- 30 points assuming the same version and industry option.  You're right on that cusp, but before jumping to any conclusions I'd be poring over my reports with a magnifying glass looking for any discrepancies.  Personally I think that's a waste of time but if you have interest... .

[user5387]

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@masscredit wrote:

There are so many different scores out there. Nobody really knows the formular that makes up each one of them. But how about when it comes to the standard scores from the big 3 (EX, TU and EQ)?  Does one weight some things heavier than the others. Does some of them give more points for this and less points for that? Is there any way to make any sence out of all of this? I pretty much already know the answer to that question - no.  And I know that there is more to being approved for a loan than our scores but the scores are what we follow and when we apply for credit, what do they want to know... what is your score? 

I look at mine and compare my reports and don't see much of a reason to have a big spread.  Actually, EX and TU are close. EQ is much higher (especially the 04 version).  Maybe EQ doesn't ding as much for baddies? 

EX - 651 (MyFico 06/05/14) 

No inquiries in the last 12 months

4 liens

1 BK

TU - 659 (Walmart 06/03/14 ) 

1 inquiry - 5-2-14

5 liens

1 BK

EQ 04 - 699 (DCU -05/28/14) EQ 08 - 683 (MyFico -06/06/14)

1 inquiry - 1-31-14

4 liens

1 BK

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Are you talking about FICO or FAKO weights?  The weights for the former are found here:

   http://www.myfico.com/crediteducation/whatsinyourscore.aspx

I assume that all good scoring models will have similar weights for the big items, like utilization, because there are only so many ways to compute a score that have any validity for predicting the future.

[masscredit]

That would be FICO scores.  I know the weight that certain parts carry. Looking at my reports, they are very close to eachother but both versions of my EQ score are noticeably higher than TU and EX.  TU has an extra lien and EX has one less inquiry. The rest of the info is the same and all are showing utilization of 3%. 

[Revelate]

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@masscredit wrote:

That would be FICO scores.  I know the weight that certain parts carry. Looking at my reports, they are very close to eachother but both versions of my EQ score are noticeably higher than TU and EX.  TU has an extra lien and EX has one less inquiry. The rest of the info is the same and all are showing utilization of 3%. 

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To your point the algorithms are slightly different between the bureaus: hence the difference in score ranges on the '04 models.  I don't know if anyone knows what the differences are except FICO insiders and a few select people at the specific CRA's; however, FICO has suggested that the design goal was for an equivalent version / industry option from any bureau to be within 30 points of each other on the same file.  

What the changes are to produce that though, think it's nearly impossible to say: we struggle enough trying to figure out the base FICO algorithm in our testing, trying to figure out the rest is a much larger challenge... though subjectively I'd suggest that EQ hates tax liens more than others .