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@Carebear2014 wrote:
I feel like crying and giving up at this point. I have no new collections reported. My last collections (total of 2) and judgement (total of 1) was 2 years 9 months ago. My utilization has actually gone down from about 15% to just 4%. I keep a balance of 0 on all 3 of my credit cards. My latest inquiry was back in February of this year.
Last month my transunion score increased from 670 to 702. Today, I saw my transunion score on my discover card statement and was shocked to see it was only 657. I thought it was a mistake. I'm very upset that the FICO quarterly alerts didn't warn me about this. I had to pay for a new credit report. I have no new collections, new judgements, or any new bad stuff on my report. A reason for the change is not even listed. Can someone tell me what happened?
I just feel a bit down now. I have been making sure I pay everything on time since my last collection over 2 years ago. I paid off all of my collections two years ago. My equifax score is 697 and my experian score is 680. Those two scores haven't dropped. My equifax score actually increased by a few points.
I don't know the answer to this question, but here are a few ideas.
1. Until recently, this site was offering the TU 98 score. It now offers the TU 08 score.
2. The score from Discover is TU 08.
3. A score from TU directly is likely to be a FAKO, distinct from both of these.
4. If items #1-3 mean that different scoring models are being used, then the resulting numbers will not match each other, because different formulas are being applied to the report data.
@Carebear2014 wrote:
Thank you for the response. I guess it's the new scoring system. I only go by the credit scores from FICO and Discover. Has anyone else experienced a 45 point reduction from the scoring system? When looking for a house which of the 3 FICO scores do they go by? I hope it's not transunion.
I feel as if I've been tricked. I've been thinking that all 3 of my scores were okay all of this time just to find out I have a bad score. Last month I was thrilled to see that I've finally made it into the 700s. It's been almost 3 years since my last late payment and one if my scores still remain poor after being reported as good. What else can I do? 45 points is a big drop. When I saw that score I thought I had something new in collections or it was a mistake.
I don't want to keep causing trouble, but I need to point out that the mortgage business typically uses the 04 series of scores, and not the 08 ones found here and at Barclays, Discover, and Walmart.
These are available from DCU, PSECU, and the EQ web site (FICO Score Power product).
A description of how the 08 scores have changed from the 04 ones is here:
http://www.myfico.com/crediteducation/questions/fico8.aspx
An individual score may be higher or lower when moving back and forth between 04 and 08.