topic Confused too!!! in Understanding FICO® Scoring

Confused too!!!

Anonymous — Tue, 15 Apr 2008 19:47:38 GMT

Hello once again. Just wondering why True Credit Equifax score has over a 100pts difference with that of MyFico's. My First Premier credit card have just been reopened and showed a positive outcome with True Credit(+8pts), but yielded a negative outcome from MyFico(-15pts). Can someone please explain why is this so?

Message Edited by workmywayup on 04-15-2008 12:47 PM

Re: Confused too!!!

Anonymous — Tue, 15 Apr 2008 21:15:56 GMT

anybody pls ...

Re: Confused too!!!

Junejer — Tue, 15 Apr 2008 21:31:26 GMT

Hi workmywayup. You have just experienced the phenomenon of FICO vs. FAKOs. Ignore the scores and the advice on TC and other FAKO CMSs. There is no rhyme or reason to what they do. For instance, my TC EQ FAKO score recently went up 7 pts, due to the decrease in my uti to 5%. However, for the same factor, my FICO score went up 71 points.

Read the first post of Credit Scoring 101 in the stickied threads at the top of this forum.

Re: Confused too!!!

Anonymous — Tue, 15 Apr 2008 22:00:00 GMT

Thanks Byrdman. This cc is my only available tradeline as of now. The other one is my auto loan. Do you think it would help my score much if the cc shows on time payments in a few months? It has a very low CL.

Re: Confused too!!!

Junejer — Wed, 16 Apr 2008 00:16:52 GMT

For most favorable scoring keep your uti between 1-9%. Ex. $500 CL, then reported balance $5-$45.