Identical info--why is Equifax 50 points lower?

[Anonymous]

I pulled all three of my credit reports. All three reflect identical account information, identical balances, and identical payment histories. My TransUnion and Experian scores are also identical.

However, my Equifax score is a full 50 points lower!

The only thing I can figure out that is different is that my four Sallie Mae student loans from college, paid off and closed since 1999, are showing up on my Equifax report as "consumer finance accounts" instead of the federally-subsidized student loans that they were. Could this account for the discrepancy? If so, what can I do about it?

Thanks in advance for any insight!

[Tuscani]

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Hannazmum wrote:
I pulled all three of my credit reports. All three reflect identical account information, identical balances, and identical payment histories. My TransUnion and Experian scores are also identical.

However, my Equifax score is a full 50 points lower!

The only thing I can figure out that is different is that my four Sallie Mae student loans from college, paid off and closed since 1999, are showing up on my Equifax report as "consumer finance accounts" instead of the federally-subsidized student loans that they were. Could this account for the discrepancy? If so, what can I do about it?

Thanks in advance for any insight!

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Do your Sallie Mae accounts show on EQ and TU?

Message Edited by Tuscani on 05-05-2007 08:21 AM

[Anonymous]

Yes, they show up as closed accounts with zero balances (just like on my Equifax report) but on those reports, they are listed as student loans.

[Anonymous]

Were there any recent changes to all reports lately? Seems to me EQ takes longer to give up points. It seems like it weighs heavier over time. I am wondering if all changes are racked up for a month to see all incoming updates and then they process a "rescore", whereas the other bureaus score as soon as they recieve an update. Food for thought...

[Tuscani]

The "consumer finance accounts" is probably hurting you. Ask EQ to change it to a student loan.

[Anonymous]

I have put together a letter to Equifax asking them to change the designation of the loans--we'll see what happens. Thanks for your insight, these boards are great!

Hannazmum

[Tuscani]

No prob.. good luck