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Posts: 8
Registered: ‎03-27-2007
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Wide Scoring differences confusion

[ Edited ]
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 (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 & 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, 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
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
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Depending on how that Heloc is oded code make all the dif...

Depending on how that Heloc is oded code make all the difference.  If TU is considering it the same as CC debt that could be the answer.  The fact that you have more accounts on TU than the other bureus also factor in to you average length history even though they've been closed for five years.
Posts: 8
Registered: ‎03-27-2007
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Thanks for your reply. Do you (or anyone else) know how a...

Thanks for your reply. Do you (or anyone else) know how a HELOC is "supposed" to be listed? I did this as part of an 80/20 loan when I purchased my home a few years ago, therefore the utilization on the HELOC is very close to the Limit.

I also noticed that with my primary mortgage none of the bureaus has the account listed as Current, they all have it listed as being included with the 8/05 Bankruptcy, which is incorrect. Would this have a major impact on my scores as well? I would think so, but not really sure (I've always been in good standing w/ my mortgage payments). I've disputed this account standing, but I'm confused as to why it is listed incorrectly in the first place. I called the Mortgage company and they informed me that they have been reporting my payments to the bureaus every month.

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