Wildly inconsistant scores -- what next?

Anonymous · ‎02-20-2011

Here's a summary of my Equifax scores for the past year:

Feb. 2010: 798

July 2010: 704 (Obtained by Bank of America)

Aug 2010: 801

Feb. 4 2011: 705 (Obtained by GMAC, via Credstar)

Feb. 20 2011: 806

The scores changed a lot, but my credit report didn't. The low scores came with an explanatory note about "Serious Delinquencies", but none has ever showed up on my credit report.

Focusing on the most recent incident: Credstar got the 705 from Equifax, "FACTA Beacon 5.0", range 334-818, on February 4. Tonight (Feb 20) I got the 806 from Equifax directly as an add-on to my annual free credit report; they say the range is 250-850.

Equifax says they keep no historical data, so they can't explain why the scores dropped so dramatically, or why they included "Serious Delinquencies" as a reason code when none show up on my report. They just say that a Serious Delinquency must have been on the report at the time the low score was generated.

Do I have any recourse? Should I handcuff myself to the front door of the Equifax home office until they explain the discrepancy? The recent 705 is going to prevent me from refinancing my mortgage. What should I do?

This week I paid a state tax bill for $600 that was two years old. Could outstanding state tax bills be considered in a credit score without showing up on the credit report?

Anonymous · ‎02-21-2011

To really get to the root of the issue:

On Feb 4th, Credstar got my Equifax score and it noted "Serious Delinquencies".

On Feb 21st, a Credstar rep could see no delinquencies, and told me "Credit reports and scores often differ between what the lenders get and what the consumers get."

That seems shocking. Per the FCRA, aren't we supposed to have access to EXACTLY the same information about us as the lenders?

ChemGuy · ‎02-21-2011

Looks like classic Auto-enhanced FICO v. FICO discrepancy. If you are shopping for a car, my understanding is that they assess report information differently to magnify auto related payment history. But, I don't know if that's the case hear...

Anonymous · ‎02-21-2011

@Anonymous wrote:
Here's a summary of my Equifax scores for the past year:

Feb. 2010: 798
July 2010: 704 (Obtained by Bank of America)
Aug 2010: 801
Feb. 4 2011: 705 (Obtained by GMAC, via Credstar)
Feb. 20 2011: 806

The scores changed a lot, but my credit report didn't. The low scores came with an explanatory note about "Serious Delinquencies", but none has ever showed up on my credit report.

Focusing on the most recent incident: Credstar got the 705 from Equifax, "FACTA Beacon 5.0", range 334-818, on February 4. Tonight (Feb 20) I got the 806 from Equifax directly as an add-on to my annual free credit report; they say the range is 250-850.

Equifax says they keep no historical data, so they can't explain why the scores dropped so dramatically, or why they included "Serious Delinquencies" as a reason code when none show up on my report. They just say that a Serious Delinquency must have been on the report at the time the low score was generated.

Do I have any recourse? Should I handcuff myself to the front door of the Equifax home office until they explain the discrepancy? The recent 705 is going to prevent me from refinancing my mortgage. What should I do?

This week I paid a state tax bill for $600 that was two years old. Could outstanding state tax bills be considered in a credit score without showing up on the credit report?

HI Really,

Where are you pulling the scores you bolded in green?

If those scores are from the Equifax site, please be aware that Equifax sells FAKO scores and, if you look really really hard, you can also purchase FICO scores on their site. Look for the FICO trademark on your scores to make sure you are purchasing true FICO scores. FAKO scores can, and do, vary widely from the FICO reality. And, as you note, the FAKO score ranges are often different than the FICO score range. In any event the FAKO scores are always built on different algorithms which is why they will vary widely even when based on the same credit report.

Anonymous · ‎02-21-2011

Thanks for the info. The most recent score, 806, I got from the Equifax site by getting my annual free credit report and pressing the "Get your credit score for $7.95" button at the end. Equifax says their FICO score is 300-850 and their "Equifax Credit Score" is 280-850. They sold me something with a 250-850 range, so I guess it's neither. What a racket.

I'm still confused by the "Serious delinquincy" note on the score they gave Credstar. Is there any way for me to find out what specifically the "serious delinquency" was two weeks ago? Someone at Credstar says they'd send me the credit report they got, but will that actually help me to convince Equifax they're doing something wrong?

Anonymous · ‎02-21-2011

@Anonymous wrote:
Thanks for the info. The most recent score, 806, I got from the Equifax site by getting my annual free credit report and pressing the "Get your credit score for $7.95" button at the end. Equifax says their FICO score is 300-850 and their "Equifax Credit Score" is 280-850. They sold me something with a 250-850 range, so I guess it's neither. So you have FAKO scores causing you a great deal of confusion and grief. What a racket. Yes, I believe it is.
I'm still confused by the "Serious delinquincy" note on the score they gave Credstar. Is there any way for me to find out what specifically the "serious delinquency" was two weeks ago? Someone at Credstar says they'd send me the credit report they got, but will that actually help me to convince Equifax they're doing something wrong? It looks like it might be a good time to pull your free annual credit reports. This is a great way to see everything that's on your report.

Hope that's helpful! Always frustrating to be surprised and feel like you're not aware of what's going on - especially on your own credit reports.

Anonymous · ‎02-21-2011

I've gone that path, and yesterday got my free annual credit report; as expected, no delinquencies. Yet two weeks ago Equifax told GMAC (via Credstar) that my low score was due to serious delinquencies.

So let's say Credstar can give me my actual credit report, the one they got two weeks ago, in which Equifax told them I had serious delinquencies. If as expected there are no delinquencies, what can I do?

In other words, Equifax told Credstar two weeks ago "His score was down at 705 because of serious delinquencies", but their own report at the time showed none. It's as if they said my score dropped because my skin was green -- a flat lie. There are no problems in my report to fix; it's the scoring system that's making erroneous conclusions.

What can I do?

Anonymous · ‎02-21-2011

@Anonymous wrote:
I've gone that path, and yesterday got my free annual credit report; as expected, no delinquencies. Yet two weeks ago Equifax told GMAC (via Credstar) that my low score was due to serious delinquencies.

So let's say Credstar can give me my actual credit report, the one they got two weeks ago, in which Equifax told them I had serious delinquencies. If as expected there are no delinquencies, what can I do? It's probably best to determine your response after seeing the report itself.

In other words, Equifax told Credstar two weeks ago "His score was down at 705 because of serious delinquencies", but their own report at the time showed none. It's as if they said my score dropped - hold on here - it doesn't look as if your score dropped - remember not to compare FICO to FAKO scores - because my skin was green -- a flat lie. There are no problems in my report to fix; it's the scoring system that's making erroneous conclusions.

What can I do? I would highly recommend pulling your Equifax FICO score from this site. You've pulled your free annual report so you know what's actually on your Equifax Credit Report. Now it's time (at least IMO) to check your Equifax FICO score. Do an internet search for "myfico discount codes" and see what your score is, along with a FICO score simulator, and those items that are helping and hurting your FICO score.

And forget about your FAKO scores - they are causing you way too much grief.