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Questions about Experian

Established Contributor

Questions about Experian

I noticed before that there's significant disparity between my Ex score and my TU and Eq scores... on the order of 60 points.  With TU and Eq, I'm getting close to top tier auto financing, but Ex is lagging, and it concerns me. 

 

My question is twofold. 

 

First, are the products offered through Experian reliable ways of tracking a score?  Is there a better way?

 

Second, are there tips for CB specific tips to sort of optimize a score?

In the garden until debt is paid off and scores are up!
Message 1 of 8
7 REPLIES
Moderator

Re: Questions about Experian

The score provided by experians monitoring service is their own in house model and no one sees it in the real world, it is a FAKO. If you want an experian FICO apply for and get a FNBO credit card it will provide you with a EX08 Bankcard Enhanced version of it monthly. If you are getting scores from each CRAs monitoring they are all FAKOs of different variety and the scores can vary widely between them.

 

To get your best FICO score you need to have your revolving CCs all paid off and reporting 0 with the exception of one which you will let report 1-9% of its CL to the CRAs. You can use your cards just be sure to have most of them paid off prior to the statement cut.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 2 of 8
Valued Contributor

Re: Questions about Experian

Not clear from your post where you are getting your scores from, or whether they're FICO or FAKO.

 

The score disparity could be due to different formulas being applied to the same data.

 

The utilization you mention is around 35%, which will hurt your score.

 

Message 3 of 8
Established Contributor

Re: Questions about Experian


user5387 wrote:

Not clear from your post where you are getting your scores from, or whether they're FICO or FAKO.

 

The score disparity could be due to different formulas being applied to the same data.

 

The utilization you mention is around 35%, which will hurt your score.

 


I know my Util is hurting my score, but I'd kind of anticipate that it would hurt my score uniformly across the board.  There's a 50-60 pt difference between Ex and Tu/Eq when I purchased the three reports through myfico.  Unfortunately, Ex isn't displayed in as consumer friendly a format as the other two, and it's difficult to determine what ELSE I can do to bump my scores between now and the time I purchase a car (my UTIL will be optimized at that time).

In the garden until debt is paid off and scores are up!
Message 4 of 8
Valued Contributor

Re: Questions about Experian

The scores available here range from TU 98 to EQ 04 to EX 08, and I would not expect them to match each other.

 

You are dealing with different scoring models developed at different times, with different weights for various things on your report.

 

Message 5 of 8
Established Contributor

Re: Questions about Experian


user5387 wrote:

The scores available here range from TU 98 to EQ 04 to EX 08, and I would not expect them to match each other.

 

You are dealing with different scoring models developed at different times, with different weights for various things on your report.

 


I wasn't expecting them to match, but I was expecting them to be close. 

In the garden until debt is paid off and scores are up!
Message 6 of 8
Super Contributor

Re: Questions about Experian


Crisis wrote:

user5387 wrote:

The scores available here range from TU 98 to EQ 04 to EX 08, and I would not expect them to match each other.

 

You are dealing with different scoring models developed at different times, with different weights for various things on your report.

 


I wasn't expecting them to match, but I was expecting them to be close. 


until fairly recently my tu and eq were 60+ points different than the ex score i pulled from here, so pretty much different scoring models can make an big difference.



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 7 of 8
Highlighted
Valued Contributor

Re: Questions about Experian

It's possible for different scoring models to emphasize different things.  An example is the FICO auto enhanced score, used in the auto business:

 

http://ficoforums.myfico.com/t5/Auto-Loans/FICO-Auto-Enhanced-Scores/td-p/228198

 

It's also true that consumer behavior and credit laws have shifted over time, and this affects scoring.

 

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