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Scoring Differences between the CRA's

Frequent Contributor

Scoring Differences between the CRA's

I checked both of my Fico scores today (myFico) and noticed a 30 pt difference between EQ and TU, with TU being the higher.  I reviewed both reports and find this odd.

 

Both reports are almost equal with the differences being and they all seem like they would place my EQ score higher instead:

 

*  TU has one additional INQ within the last year

*  EQ has a Cap1 credit account showing pays as agreed opened in 1995; $0 bal

*  TU has a revolving account showing pays as agreed opened in 2005; $0 bal

*  TU has a student loan balance $100 higher than the same EQ student loan balance

 

The only other difference is on the EQ report card, "you opened a new credit account relatively recently; 4 months ago" is showing as a negative factor that affects my score.  Does the TU model not let this affect it as much?

 

Does anyone know at what point this new account will not negatively affect my EQ score?  6 mo. mark?  1 yr mark?

 

EDIT:  The EQ report shows a negative indicator my a CC account.  There was a 30day late in 2008.  This is on my TU report, but doesn't list the account as negative.

9 REPLIES
Valued Contributor

Re: Scoring Differences between the CRA's

The thirty point difference is probably not just one thing but a combination of things.  The late date and the recently opend account would be the majority of the difference. On the 30 day late is this correct?  If not if you have the proof of payment for that month then dispute the late paymentt with the proof that sould help.  Do the score reasons on what is hurting your score on Equifax mention the late payment ?

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Frequent Contributor

Re: Scoring Differences between the CRA's

The 30 day late is on both, actually all 3, reports and is valid, but it's from 2008. EQ is the only one that shows that as an adverse account though. I'm not sure why EQ is recognizing it but TU doesn't.

The new accounts (2) are on all 3 reports, but the inquiries for those are only on TU. EQ, not TU, is the one that mentions them as a negative factor.

The late payment is not mentioned as a negative factor on either report.

TU neg factors: 30% Util on revolving accounts
TU pos factors: No late payments, estab credit history, estab revolving credit history, recent use of credit cards

EQ neg factors: new credit account, 30% Util on revolving accounts
EQ pos factors: no serious delinquency, paying bills on time, estab credit history
Valued Contributor

Re: Scoring Differences between the CRA's

        I don't mean this answer to seem like a cop out, but there is no way for you to get a definative answer to your question. The exact scoring formula a trade secret and an unknown. Most people have discrepancies between their scores. This can be true even when the reports are exactly identical. There has been a lot of research done by members of this site and other but still it is hard to pin down exactly how your scores are effected by a single difference or a few differences in your reports. 

Valued Contributor

Re: Scoring Differences between the CRA's

@fittiger

 

There is one other factor that I should have thought of in my first post.. The Equifax score is Beacon 5.0 and the TU score is Empirica 98. This a also a factor in the score model difference as well. This also factor into the score difference as well.. The part of your last response that has me confused for the moment is the no late payments / serious delinquency on the positive side and yet there is a 30 day late.

 
Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Frequent Contributor

Re: Scoring Differences between the CRA's

@AndySoCal.....

It says "No serious Delinquency" = 60 days past due or greater

Recently been paying bills on time = your most recent late payment happens 5 yrs ago
Frequent Contributor

Re: Scoring Differences between the CRA's

I also realized something else. TU is in fact not recognizing the 30 day late; which is odd because it is on my report, but not my myFico TU report.

This could be a significant portion of the point difference......but is my EQ score reflecting this considering the positives?
Moderator Emeritus

Re: Scoring Differences between the CRA's


fittiger wrote:
I also realized something else. TU is in fact not recognizing the 30 day late; which is odd because it is on my report, but not my myFico TU report.

This could be a significant portion of the point difference......but is my EQ score reflecting this considering the positives?

How old is the late?

Frequent Contributor

Re: Scoring Differences between the CRA's

5 years old in June......so June 08
Highlighted
Moderator Emeritus

Re: Scoring Differences between the CRA's

A 30-day that late is no longer hurting. 30-days typically stop around 2 years, but certainly YMMV on your credit.