Re: Equifax FICO and Equifax Score
07-23-2012 11:14 AM
I recently paid off a car loan, waited a month and I pulled my Equifax FICO from myfico.com and it had dropped to 665. I then went to equifax.com and pulled all 3. My equifax score was 776 (my equifax.com TU and EX were 777 and 779 respectively). That is a HUGE difference - 111 points!
It is the difference in me getting a great interest rate on my refi and not qualifying at all. So now I am torn about even applying for my refi and taking the hit for the credit pull, putting me further away from the 680 I need or just waiting for my score to slowly creep back up to over 680. But I really would like to have the lower payment on my mortgage sooner rather than later.
I have scrutined both reports. All the details are the same except this car loan. Myfico seems to be interpreting my car pay off as recent late pay (I was 30 days back in March of 2009) and equifax is seeing Paid, was past due 30 days. I have tried 3 different disputes and can't seem to get it fixed, so my guess is that it is just a differnce in their scoringn formulas and there is no fixing it. If my FICO is really what the lenders see then I don't have a chance of getting this refi. My revolving credit Utilization is 1%, The worst delinquency I have is a 30 days late from over 3 years ago. My credit history goes back to 1989... the 770's seem more in line with what I should expect for a credit score.... not a 665. Dare I risk the credit pull to only be rejected?
Starting Score: EQ 740, EX 792 (lender pull), TU 772 (lender pull)
Current Score: EQ 767, EX 792 (lender pull), TU 772 (lender pull)
Goal Score: 2 over 760 and one over 800--still looking to get one over 800!
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