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53 points is pretty significant. Do you have any collections on your report?
has anything really old fallen off and is no longer reporting?
Where are you getting your scores?
Can you be specific about which score (EX, EQ, TU) has changed?
If it's an EQ score from this site, then the scoring models have changed recently (EQ 04 to EQ 08), and the changes are described here:
http://www.myfico.com/crediteducation/questions/fico8.aspx
Such a change will help some people and hurt others.
If you're looking for a mortgage, I would rely on the FICO score available at the Equifax site (EQ 04). The 04 scores tend to be standard in the mortgage industry.
Is your credit card maxed out? Take a look at the balance reporting on your credit card from the report where your credit report had the higher score and compare it to the recent report.
A significant part of your FICO score is the amount utilized on credit cards.
Additionally, check to make sure that none of the existing collections have recently reported anything.
> If you're looking for a mortgage, I would rely on the FICO score available at the Equifax site (EQ 04).
5387 -- Would you by chance know how to locate the true FICO 04 score at Equifax that they sell for $20? Pretty much everything that I see is for their "Credit Score" and "Equifax Complete" products, which I believe is what we should stay away from. I get the feeling they bury the true 04 area? Any pointers? Thanks!
@user5387 wrote:If it's an EQ score from this site, then the scoring models have changed recently (EQ 04 to EQ 08), and the changes are described here:
http://www.myfico.com/crediteducation/questions/fico8.aspx
Such a change will help some people and hurt others.
If you're looking for a mortgage, I would rely on the FICO score available at the Equifax site (EQ 04). The 04 scores tend to be standard in the mortgage industry.
Although the move from Beacon 5.0 to Beacon 9.0 is currently happening at myFICO, OP should still carefully look at her reports to determine where she is losing such a significant amount of points.
@EW800 wrote:> If you're looking for a mortgage, I would rely on the FICO score available at the Equifax site (EQ 04).
5387 -- Would you by chance know how to locate the true FICO 04 score at Equifax that they sell for $20? Pretty much everything that I see is for their "Credit Score" and "Equifax Complete" products, which I believe is what we should stay away from. I get the feeling they bury the true 04 area? Any pointers? Thanks!
I believe it's the $19.95 "Score Power" product here:
http://www.equifax.com/credit-score
@DaveSignal wrote:
@user5387 wrote:If it's an EQ score from this site, then the scoring models have changed recently (EQ 04 to EQ 08), and the changes are described here:
http://www.myfico.com/crediteducation/questions/fico8.aspx
Such a change will help some people and hurt others.
If you're looking for a mortgage, I would rely on the FICO score available at the Equifax site (EQ 04). The 04 scores tend to be standard in the mortgage industry.
Although the move from Beacon 5.0 to Beacon 9.0 is currently happening at myFICO, OP should still carefully look at her reports to determine where she is losing such a significant amount of points.
Agreed. I was treating this as a "What suddenly changed?" issue, and the scoring model change is the obvious culprit.
However, beyond that, if EQ 08 causes a score to dive, then it's worth further investigation, for example looking at maxed out cards and AU issues.