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Established Contributor
dizzier
Posts: 733
Registered: ‎10-23-2007
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Re: Why is Equifax so low?


haulingthescoreup wrote:

dizzier wrote:
but my new accounts are 6+ months old and they show up on the other two CRs as well. Why does EQ care so much?


On my reports, each score only counts the inqs that are on the associated CRA's, if that makes sense. So I have 2 inqs on EQ, and my EQ score counts two, and 1 on EX, and they count 1, and 0 on TU, so they count 0.

If you have 6 on EQ, and only 2 and 1 on the others, that would definitely hurt you more with EQ. Sorry, that light didn't go on when I first read this. :smileytongue:


huh? well i know that, but the section you quoted was about the age of my debt not the inquiries.

as for the inquires, where do they count in the FICO model? do they count with the 10% for new accounts? if so, then i don't understand why 6 inq would drop my score by 40 points in comparison to the others.

____________________
FICOs: (as of 12-10-08): EX 759 | (as of 01-24-10): EQ 794 TU 756 EX ? | (as of 3-17-11): EQ 794 TU 790 EX ?

Until Chase lowers my ridiculously high APR they can kiss my patootie! Their card has been retired to the sockdrawer. :smileymad:
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Why is Equifax so low?


dizzier wrote:

huh? well i know that, but the section you quoted was about the age of my debt not the inquiries.

as for the inquires, where do they count in the FICO model? do they count with the 10% for new accounts? if so, then i don't understand why 6 inq would drop my score by 40 points in comparison to the others.




Yes I was focusing on the wrong thing --I think it's the inqs, not the age.

They go in the new credit section, which in total is worth 10%. So 10% of a potential 850 points = 85 points max that you can gain in this section. Your accounts are aging some, which helps, but I was told on another thread that inqs carry their full hurt for the entire 12 months, and then they don't count at all.

So I don't know how EQ FICO scores each inq (stops counting after 4, whatever, completely in the dark on this), but I can see how your EQ score would be 30-40 points lower than the other two, as EQ has so many more inqs. Hope that makes sense --the coffee is slow in kicking in this a.m.! :smileytongue:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Contributor
dizzier
Posts: 733
Registered: ‎10-23-2007
0

Re: Why is Equifax so low?

that makes sense. thanks!
____________________
FICOs: (as of 12-10-08): EX 759 | (as of 01-24-10): EQ 794 TU 756 EX ? | (as of 3-17-11): EQ 794 TU 790 EX ?

Until Chase lowers my ridiculously high APR they can kiss my patootie! Their card has been retired to the sockdrawer. :smileymad:

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