Established Contributor
Posts: 557
Registered: ‎10-07-2007

What's helping and What's hurting your FICO score

I just compared the MyFICO reports I obtained for all three CRAs and I am curious about something.  My Equifax score was 22 points lower than Experian and TransUnion. 
The Equifax report states that I recently opened a new credit account (1st new car loan in 20 years) that is hurting my score.  This auto loan is reported at all three CRAs but Equifax is the only one commenting on it?  How much of the feedback offered in the reports are a direct result of the MyFICO software ... and how much of it is the FICO scoring system ... and how much of it is the extra analysis provided from the CRA software?
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007

Re: What's helping and What's hurting your FICO score

If you bought them from MyFICO then it should all be FICO. If you bought them directly from the CRAs then only EQ comments count.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007

Re: What's helping and What's hurting your FICO score

New credit will ding you for 6 to 12 months.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+