@Anonymous wrote:
I understand a difference maybe of a few points, but these seem very extreme.
You can't just assume that there will only be a few points difference between any two scoring models and data sources. The variance all depends on the models and the data. There could be a small variance or there could be a significant variance. No matter what you can't rely on one scoring model to determine the score generated by an entirely different scoring model.
@Anonymous wrote:
Also, is there an ACCURATE tool that I can use that will show me exactly what changes I need to make that will directly affect my scores?
Nope. There are plenty of simulators but they don't know the details of the various FICO models so they're really not relevant. However, you can read up here and ask away. I always suggest starting here:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
We can't tell you that you'll get X points for doing Y but given the information in the link above and some other credit knowledge as well as an understanding of your credit we can guide you to improving the data in your reports.
@Anonymous wrote:
I have high CC balances, a charge off from our second mortgage, and 3 medlical collection accounts which are wrong and have been corrected.
Payment History, the biggest slice above is affect by derogs. Therefore dergos tend to have a significant impact (depends on age) so they should always be addressed first. Derogs can hold your score down even if you address everything else. When you say "corrected" does that mean removed? If they were not removed then hit the Rebuilding subforum and see what you can do to try to get them removed.
Utilization (balance[s]/limit[s]) is the second biggest slice. If your utilization is high then you'll want to decrease it as utilization can also have a significant impact. 30% is the generally recommended max but if you're looking to eke out every possible point then you may want to allow only one balance to report at 10% or less. Calculate both individual utilization for each of your revolving accounts as well as overall utilization -- both matter.
