topic Re: why does one CRA score drop more than the others? in Understanding FICO® Scoring

why does one CRA score drop more than the others?

Anonymous — Thu, 10 Dec 2015 12:01:53 GMT

I have a new installment loan that just reported. On EX it resulted in a -3 points on my score. I received my notification yesterday that hit his EQ and the drop was -14. **bleep**! Why are they so damn different like that? Both EX and EQ are clean with zero baddies, lates, or anything as such.

Re: why does one CRA score drop more than the others?

Thomas_Thumb — Thu, 10 Dec 2015 13:38:27 GMT

Hard to say. Check your report details. Does EQ show fewer accounts or more inquiries on file than EX? Could also be a timing thing

Generally a new loan score drop of 10 to 15 points is not unexpected. Often score rebounds in 90 days with the long term potential of a higher score than without the loan (assuming it is your only installment loan)

Re: why does one CRA score drop more than the others?

Anonymous — Thu, 10 Dec 2015 14:07:10 GMT

@Thomas_Thumb wrote:
Hard to say. Check your report details. Does EQ show fewer accounts or more inquiries on file than EX? Could also be a timing thing

Generally a new loan score drop of 10 to 15 points is not unexpected. Often score rebounds in 90 days with the long term potential of a higher score than without the loan (assuming it is your only installment loan)

EQ and EX show the same accounts and EQ has a few less inquires than EX. The frustrating thing I don't understand is my EQ can fluctuate like crazy yet the same information reports to EX and it is stead without crazy up/down point swings.

Re: why does one CRA score drop more than the others?

gdale6 — Thu, 10 Dec 2015 16:37:38 GMT

The Fico score algorithms are tailored for each CRA as they are not mirror images of each other and each of them stores data in a different way so more often than not Fico scores are going to vary across all the CRAs.

Re: why does one CRA score drop more than the others?

RobertEG — Fri, 11 Dec 2015 18:53:40 GMT

Fair Isaac stated in a webinar a few years back that it develops a tailored version of its scoring algorithm for each CRA, similar to its development of different algorithms for different industry sectors. Each CRA views things a bit differently.

They stated that, with identical data at each, the score could vary by as much as 30'ish points, but that is about the max.