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tommyz1052
Posts: 11
Registered: ‎12-18-2008
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myFico score is 717 , score thru Equifax 784 on the same day

I read the a similar  thread about score discrepancies and wondered hmm I have noticed  my "myFICO" credit score do a slide over the 18months I have had the Score Watch service for about 18 months, after leaving Consumer()))).com .

 

By slide I mean everytime a balance increases even the slightes amount and I get an alert I loose a few points . I started at 749 and have gone down to 717 today, despite my overall debt has gone done by 1/3.


 

Hopefully someone can explain a 67 Equifax point spread? In response to an alert today for a 50 dollar balance on a credit card my score did a further slide.

A 0 dollar balance to a 50 dollar balance and it went down  7 points and my intuition said something is real wrong here.

 

So today I dropped some more money on myfico and bought the transunion report and score. See scores below. All 8/6/11

 

Transunion 767 (MYFICO)
Equifax 717 ( reported today from drop of 724)

 

 

Experian 761 --- Experian site dated today
Equifax from EQUIFAX SITE 784 <----- MYFICO SAYS 717

 

So my question is why a 67 point spread? What is myFico basing its score on?

 

I am sorta wondering how valuable this Scorewatch is with such a discrepancy .

 

I purchased a car today and dealer said Equifax score was "above 760" he didnt have the ability today to get the exact number for me since it was saturday. He just needed that for an interest rate.



Again if someone offering credit pulls a report and says over 760 , what is wrong with this myfico score of 717?

Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
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Re: Score drastically different on a different site...


tommyz1052 wrote:

I read the above thread and wondered hmm I have noticed  my "myFICO" credit score do a slide over the 18months I have had the Score Watch service for about 18 months, after leaving Consumer()))).com .

 

Hopefully someone can explain a 67 Equifax point spread? In response to an alert today for a 50 dollar balance on a credit card my score did a further slide. A 0 dollar balance to a 50 dollar balance and it went down  7 points and my intuition said something is real wrong here. So today I dropped some more money on myfico and bought the transunion report and score. See scores below. All 8/6/11

 

Transunion 767 (MYFICO)
Equifax 717 ( reported today from drop of 724)

 

 

Experian 761 --- Experian site dated today
Equifax from EQUIFAX SITE 784

 

So my question is why a 67 point spread? What is myFico basing its score on?

 

I am sorta wondering how valuable this Scorewatch is


The experien score is a FAKE score.  Nowhere to get a FICO EX score anywhere but a lender pull.  Used to get it online at a credit union in PA but only now if you live in PA.  The TU score is a TU98 model version (here at Myfico).  It is safe to say most lenders use the TU04 version these days.  My TU score was 661 here, but when lender pulled it was 653 - so close but not on the nose.  I don't understand your "slider" question so i can't help you with that.  It does make sense that the 50 dollar increase would cost you seven points.  35% of the FICO score is your "utility" - so the general rule is to have all of your revolving accounts report zero, except one should report a 1-9% balance for optimal fico points.  Hope that helps.  Weekends are slow around here so if you still have questions just hang out a coupla days and you will get more answers.  The EQ score here at MYFICO is exactly the score a lender will use - to the dot.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Member
tommyz1052
Posts: 11
Registered: ‎12-18-2008
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Re: Score drastically different on a different site...

 

The slide means everytiime i have a 30 dollar balance I loose a point or 2. If the balance goes to 0, the score stays the same.

 

So you are saying that  http://www.creditscoring.com/creditscore/fico/get.html 

is wrong in that it states from the equifax website for 7.95 it is a FICO score

 

Key word: "a" (as in a credit score). It doesn't say which credit score-- just a credit score. And, according to media reports, in two out of three cases (TransUnion and Experian), the score is not the FICO 

 

But Equifax's score is a Fico score.

 

I am about to buy a car again, if a "pull says " the myfico score is off what should I do. As I will get that "pull" as you say.

 

 

For my part I just have to say hmmm, Ignore everything else, even from the reporting agencies website its all "fake" and myfico is right?> especially when its the oddball number

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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Score drastically different on a different site...

[ Edited ]

 


tommyz1052 wrote:

 

The slide means everytiime i have a 30 dollar balance I loose a point or 2. If the balance goes to 0, the score stays the same.

 

So you are saying that  http://www.creditscoring.com/creditscore/fico/get.html 

is wrong in that it states from the equifax website for 7.95 it is a FICO score

 

Key word: "a" (as in a credit score). It doesn't say which credit score-- just a credit score. And, according to media reports, in two out of three cases (TransUnion and Experian), the score is not the FICO 

 

But Equifax's score is a Fico score.

 

I am about to buy a car again, if a "pull says " the myfico score is off what should I do. As I will get that "pull" as you say.

 

 

For my part I just have to say hmmm, Ignore everything else, even from the reporting agencies website its all "fake" and myfico is right?> especially when its the oddball number


Equifax recently started selling a non-FICO score. If the score you're actually buying does have that Yes This Is a FICO statement, then it is, but otherwise, it's a FAKO. The site that you linked to isn't an Equifax site, and they may have obsolete info.

 

Everyone is selling their roll-your-owns these days. :smileysad:

 

 

edited to add quote to try to untangle the mess

* 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
Member
tommyz1052
Posts: 11
Registered: ‎12-18-2008
0

Re: Score drastically different on a different site...

[ Edited ]

 

But if myfico says im 717 and everything else says 760 + even 780 and since being on myfico my balances have been cut in half and my score goes DOWN?

 

how do you explain that?

 

I will post what the dealer gets.

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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Score drastically different on a different site...

[ Edited ]

tommyz1052 wrote:

 

But if myfico says im 717 and everything else says 760 + even 780 and since being on myfico my balances have been cut in half and my score goes DOWN?

 

how do you explain that?

 

I will post what the dealer gets.


Have you saved all your myFICO reports?

 

If so, can you please post the negatives (they're on screen 2, on the left) for each score?

 

It's very possible (and understandable) that you didn't pull new reports when you got the alerts about changes, but if you did, the negatives --more importantly, the changes in the negatives --will give an indication as to what is going on.

 

It's the negatives that drive score changes. All the other explanatory goodies on the myFICO score reports --the dashboard on the first page, the positives on the second, etc. --are entertaining but not necessarily enlightening. (And the rest of it is the report itself.)

 

 

edited to add quote in an attempt to untangle

* 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
Member
tommyz1052
Posts: 11
Registered: ‎12-18-2008
0

Re: Score drastically different on a different site...

not talking about TU. TU from myfico is in odds of myFICO equifax as well. Just comparing equifax which is the Scorewatch score used to track

 

 

Experian 761 --- Experian site  (08/06/2011)
Equifax   784 from EQUIFAX SITE (08/06/2011)


(MYFICO) scores
transunion 767 (08/06/2011
Equifax 717 08/06/2011

Moderator Emerita
Community Leader
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Score drastically different on a different site...

[ Edited ]

tommyz1052 wrote:

not talking about TU. TU from myfico is in odds of myFICO equifax as well. Just comparing equifax which is the Scorewatch score used to track

 

Experian 761 --- Experian site  (08/06/2011)
Equifax   784 from EQUIFAX SITE (08/06/2011)

(MYFICO) scores
transunion 767 (08/06/2011
Equifax 717 08/06/2011


 

 

At any rate, what I was trying to explain is that Equifax sells non-FICO (FAKO) scores from its site. Although I think it's still possible to buy your EQ FICO from there, it's very possible that you bought an Equifax FAKO from their site, and those don't match up with FICO's from here.

 

Can you go back and look at the score that you bought off the EQ site and see if it says what type of score it is? It's often buried at the very bottom in faint grey, microscopic type.

* 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
Moderator
MarineVietVet
Posts: 14,909
Registered: ‎07-14-2009
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Re: myFico score is 717 , score thru Equifax 784 on the same day

Hi tommyz1052.

 

Since you started a new thread I'm going to move some of the responses you got in the older thread over here. Hopefully that will lessen the confusion.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

 

 

 

 

Member
tommyz1052
Posts: 11
Registered: ‎12-18-2008
0

Re: myFico score is 717 , score thru Equifax 784 on the same day

well I am getting info from a few different sources , this answer from outside seemed to make alot of sense.

 

As far as we know, all the credit scores are generally calculated the same. Since we can't see each company's exact formula, it's hard to pinpoint the specific differences.

Creditors and lenders use the credit score from the company they have a business relationship with. It could be a credit bureau's credit score, the FICO score, or the lender's own credit score. The only way to find out is to have your lender tell you (some won't).



FAKO score is used to refer to any credit score that's not a FICO score. If you purchased your credit score from anywhere but myfico.com, then it's a FAKO score.? right?

 

FAKO to the average person reading would seem to mean somehow its fake or illegitimate. The more I think about this, if companies use different scores including FAKO's why are FAKOS not a representative number?

 

 


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