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WAFICOwatcher
Posts: 66
Registered: ‎11-05-2007
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myFICO Score Watch vs. Equifax Score Watch

I'm confused... I know credit scores are point in time - so even using the same scoring criteria, two different services may report different scores depending on when the pull is done.  But I'm signed up for both Equifax's Score Watch and myFICO Score Watch, and I expected them to show similar scores since they both should be monitoring for changes.
 
I signed up for both services early last month.  Equifax was slightly higher (667 vs 666).  When a new account got added on my myFICO score dropped a bit (to 664) which wasn't reflected in the Equifax score.
 
So yesterday I get an update to my Equifax score to 685 (yeah!).  I kind of expected the myFICO score to go up too.  Later in the day it did... to 670?
 
I understand the differences between different CRAs scores... but different scores between Equifax Scorewatch and myFICO scorewatch?  Seems odd.  Anyone have any idea why this would happen?
 
I'm planning on keeping only one service after the first 3 months - I initially thought I'd keep the Equifax version since everyone's indicated it updates sooner.   But Equifax's score only updated 3x over the last month, and there were only two different scores.  MyFICO's updated 6 times during that span, with 3 different scores.  But now the two scores are very different...  I'm very confused!
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: myFICO Score Watch vs. Equifax Score Watch

I think that there is a bit of a delay in the updated credit reports traveling to the FICO site (not sure about this, though.) Have you compared the underlying reports for the non-matching scores to see if anything is different?
 
If not, this is a good question for an admin, if one cruises through. Barry? Raine?
* 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
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WAFICOwatcher
Posts: 66
Registered: ‎11-05-2007
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Re: myFICO Score Watch vs. Equifax Score Watch

I've been debating getting new reports to compare them...  One side of my brain is telling me to pull new reports, the other side is reminding me that we're buying a house in a couple of months, so stop spending money!    Usually that second half of my brain isn't working, but this house thing changes everything!  :smileyvery-happy:
 
I just thought it was weird that the Equifax score went up only once, and later in the day the myFICO score went up... but not by the same amount.  I'm guessing it's possible that the myFICO score was generated from data that preceeded the data Equifax used to calc the higher score.  For instance if myFICO's score was based off of information from the day before yesterday, and after that point something else changed.  Then Equifax's score could have been based off of yesterday's info.
 
This is all so confusing!
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: myFICO Score Watch vs. Equifax Score Watch

At one point I got so exasperated at FICO ScoreWatch that I was getting ready to cancel it, and then my score bucket changed. I was able to figure this out from the SW alert; otherwise, I think I would have just had a stroke then and there. So I've kept it on, but I regard it with wary humor.
 
After a while, I got my reports pretty well smoothed out, so the combination of that and knowing what credit report changes are apt to trigger score changes lets me know when it's smart to pull scores. Well, in theory, anyway! I swear, I'm down to once a month. Really! starting tomorrow! :smileyvery-happy:
* 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
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lohanck
Posts: 29
Registered: ‎11-28-2007
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Re: myFICO Score Watch vs. Equifax Score Watch

do you know of a thread that will teach me more about score buckets?
11/29/07---EX-801, TU-792
12/7/07---EQ-774
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haulingthescoreup
Posts: 28,115
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Re: myFICO Score Watch vs. Equifax Score Watch

Here's the one I learned on --go to message 17:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=10004&view=by_date_ascending&page=2

Here's where I was figuring out what was what:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=10745
* 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
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Barry
Posts: 4,390
Registered: ‎03-01-2007
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Re: myFICO Score Watch vs. Equifax Score Watch



haulingthescoreup wrote:
I think that there is a bit of a delay in the updated credit reports traveling to the FICO site (not sure about this, though.) Have you compared the underlying reports for the non-matching scores to see if anything is different?
 
If not, this is a good question for an admin, if one cruises through. Barry? Raine?


While both EFX and myFICO Score Watch run off of the same systems at EFX, it's true that the info is transmitted from EFX to myFICO before it gets to the customer, so a delay is certainly possible -- though it should be the exception more than the rule.
In a much more productive past life I served as FICO consumer affairs manager and myFICO Forums community manager from 2007 to 2012. Now semi-retired, I write the weekly Speaking of Credit column for CreditCards.com.
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WAFICOwatcher
Posts: 66
Registered: ‎11-05-2007
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Thanks All - Scores have re-aligned

[ Edited ]
Just got an update from myFICO - score's up to 684, inline with Equifax.
 
So it looks like there was a 1 day delay - my guess is that EQ updated to 670 2-3 days ago, and provided that update to myFICO.  Then, before EQ SW updated my score there must have been other changes, and when EQ SW updated, they went straight to 684.  Meanwhile myFICO SW was 1-2 days behind on the updates, and they reported the 670 and the 684 scores.
 
Latency issues are pretty normal, especially when information is coming from outside sources.  It was really only troubling because it looked like only 1 update happenned, and the update wasn't the same. 
 
Thanks for your help.  680+...  Finally where I need to be for the upcoming home purchase!


Message Edited by WAFICOwatcher on 12-12-2007 01:44 PM
Established Contributor
Posts: 739
Registered: ‎06-30-2007
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Re: Thanks All - Scores have re-aligned

I bet that are they same thing just rebranded Myfico is nothing more than a reseller
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
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MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
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Re: Thanks All - Scores have re-aligned



rbbyrbsn wrote:
I bet that are they same thing just rebranded Myfico is nothing more than a reseller



Yes and no.  MyFICO is a part of Fair Isaac, and they invented Credit Scoring  :smileyvery-happy:
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And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

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