I'm really confused about my 3 fico scores, and how they compare to each other...and also how they compare to the scores I have from Truecredit.com (I do realize that those scores are based in a totally different system and are irrelevant to any credit decisions). My three scores pulled from myfico are TU-516, EX-550 and EQ-606...a 94 point difference between TU & EQ! A few days later I pulled my scores from TrueCredit.com & the 'artificial' scores there are TU-638, EX-596, EQ-616. What I cannot understand: 1. How can there be such a major difference between the myfico scores? 2. How is it that the EX score from Truecredit is my highest score among the three (by far), and is the lowest score (by far) when generated by myfico? I do have a few negative items...a bankruptcy in 8/2005 and a collection (paid) in 1/2006, but those appear in all three reports and are consistent.
Nearly everything is consistent between the three agencies (total current balances, total monthly payment are the same). The only differences I can see are the number of total accounts reported (there are a few more listed in the TU list than in the EQ list, but they are accounts which were closed > 5 years ago). The one major difference I can see is that when I go into the score simulator the TU sim says that I have $40k of Credit Card (revolving) debt, whereas the EQ sim says I have about $3k. I have a HELOC w/about $37k balance and about $3k CC debt, so all I can think of is that one of the two bureaus is reporting the account type incorrectly (I don't know how it SHOULD be reported...since it is a revolving line-of-credit, but it's secured). I spent 2 1/2 hours on the phone/on hold with myfico support asking them about the wide difference...and they could do nothing but give me vague..and different answers depending on who I was speaking to. One of them even told me that because I had a bankruptcy I should expect my scores to vary widely...um, what?
I really just want to be sure that everything is accurate so that I am judged fairly when I request a new mortgage loan. I hope someone can tell me what the possible discrepancy is which would cause such a wide difference in scores...the myfico support staff was clueless.
Sorry for the rambling of this post, but there is a lot of information to account for, and I tried to include everything.
Message Edited by goblue on 03-29-2007 10:53 AM