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Moderator Emeritus
WhirledPeasPlease
Posts: 3,418
Registered: ‎12-27-2007

Same scores/diff info

I am absolutely mystified at how my three credit scores are so close when each report contains such different information.  For a few weeks there was a one point difference (653/654/654) and now there is a four point difference (656/658/659). 
 
Does anyone else experience this?  For instance EQ has a serious derog (delete pending) but 13 fewer accts than the other two.  My INQ range from 1-7 between reports.
 
Is it just me?  Am I missing something here?
 
TIA, Peas
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007

Re: Same scores/diff info



WhirledPeasPlease wrote:
I am absolutely mystified at how my three credit scores are so close when each report contains such different information.  For a few weeks there was a one point difference (653/654/654) and now there is a four point difference (656/658/659). 
 
Does anyone else experience this?  For instance EQ has a serious derog (delete pending) but 13 fewer accts than the other two.  My INQ range from 1-7 between reports.
 
Is it just me?  Am I missing something here?
 
TIA, Peas



Yeah Peas, I do. LOL.
___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: Same scores/diff info

Each CRA (EQ, TU, EXP) uses totaly different scoring algorithms (mathematical equations) in generating their scores.  And each, as you have pointed out, have different credit reports before them that form the data to run through their totally different computer scoring algorithms.  So it is a factor, both of diffent data in their database, and different formulas used by them when they crank that data through their formula to arrive at a credit score.  Neither is privileged to the model used by the others.  Each are in business to sell their scores.  They make no attempt to seek uniformity, so neither should you.  So an increase that you show in one category affects their models very differently.  Dont try to understand it, for they are trade secrets that you will never uncover.
So the dilemma for the consumer is not to reconcile the different credit scores that each want to sell to you, bur rather to know which score is most important to YOU!.  The myFICO score, which is the consumer score sold by FairIsaac, is the score used by most lendors in their decsion making.  EXP and TU scores are used by the minority, are thus referred to as FAKO (Fake-O) scores.  You just have to know what scores your lendor is using.  If in doubt, just assume that is the true FICO, offfered on myFICO, and ignore the FAKOs.  Dont get hung up in the score d'jour that varies with the chef of the soup.  The taster of your soup is your lendor. 
Moderator Emeritus
WhirledPeasPlease
Posts: 3,418
Registered: ‎12-27-2007

Re: Same scores/diff info



RobertEG wrote:
Each CRA (EQ, TU, EXP) uses totaly different scoring algorithms (mathematical equations) in generating their scores.  And each, as you have pointed out, have different credit reports before them that form the data to run through their totally different computer scoring algorithms.  So it is a factor, both of diffent data in their database, and different formulas used by them when they crank that data through their formula to arrive at a credit score.  Neither is privileged to the model used by the others.  Each are in business to sell their scores.  They make no attempt to seek uniformity, so neither should you.  So an increase that you show in one category affects their models very differently.  Dont try to understand it, for they are trade secrets that you will never uncover.
So the dilemma for the consumer is not to reconcile the different credit scores that each want to sell to you, bur rather to know which score is most important to YOU!.  The myFICO score, which is the consumer score sold by FairIsaac, is the score used by most lendors in their decsion making.  EXP and TU scores are used by the minority, are thus referred to as FAKO (Fake-O) scores.  You just have to know what scores your lendor is using.  If in doubt, just assume that is the true FICO, offfered on myFICO, and ignore the FAKOs.  Dont get hung up in the score d'jour that varies with the chef of the soup.  The taster of your soup is your lendor. 



Is this a form letter?  A post from Scoring 101?  I am not new to the topics presented in these forums.  Perhaps I interpreted the post in the wrong manner, but I'm trying to figure out if my original post was misleading or if this is some sort of automated response.
 
My point was not that my scores DIFFER, rather that they are as close together as they are despite the differences contained in each report.
 
I know the difference between FICOs and FAKOs and my FAKOS are even closer.
 
I know exactly which scores my lenders are using.  At the present time I am only interested in my FICOs as I go through a potential refi on my first house while purchasing a second.
 
Again, I apologize in advance if this comes across as tempermental,
 
Smooshy Peas
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.

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