topic Re: Why 60 points difference. in Understanding FICO® Scoring

Why 60 points difference.

MeCasa — Thu, 20 Jun 2024 20:20:47 GMT

I'm 70 but I've got one last deal in me. Deals generally require some sort of financing and a high credit score will smooth the skids.

Experian - 730

TansUnion - 670

Equifax - 674

This week I'll pay everything down below 30% . Why are the two scores so low?

Re: Why 60 points difference.

MissLiz — Thu, 20 Jun 2024 21:19:27 GMT

Without looking at all three reports to see the differences, it is likely that:

A) Something positive is reporting on one report that isn't reporting on the other two.

B) Something negative is reporting on the two lower scores that isn't reporting on the one higher.

C) They all have their own formula for calculating score.

D) Something has reported to one that hasn't reported to the other.

Re: Why 60 points difference.

pizzadude — Thu, 20 Jun 2024 21:47:16 GMT

@MeCasa wrote:
I'm 70 but I've got one last deal in me. Deals generally require some sort of financing and a high credit score will smooth the skids.

Experian - 730
TansUnion - 670
Equifax - 674

This week I'll pay everything down below 30% . Why are the two scores so low?

Assuming these are FICO scores -- you'd achieve the best results via the AZEO method with your revolving accounts Paying off 59K is probably not achievable so if you can list the accounts / balances / credit limits we can offer more advice on what would be most helpful.

Re: Why 60 points difference.

SouthJamaica — Thu, 20 Jun 2024 21:51:55 GMT

@MeCasa wrote:
I'm 70 but I've got one last deal in me. Deals generally require some sort of financing and a high credit score will smooth the skids.

Experian - 730
TansUnion - 670
Equifax - 674

This week I'll pay everything down below 30% . Why are the two scores so low?

You should pull a 3-bureau report and compare the 3 reports, to find out.

You're not going to find out from us.

Re: Why 60 points difference.

Slabenstein — Thu, 20 Jun 2024 21:53:20 GMT

Regarding the score difference, if those scores are all from the same version/model, then the first thing I would check is whether that collection is reporting on EX or if it's on TU and EQ only.

Re: Why 60 points difference.

MeCasa — Thu, 20 Jun 2024 22:23:19 GMT

Truthfully, we are trying to rationalize where there is no rationalization but greed. Every company does what's best for them and what their advisors say as the path to Nirvana. I spent some time today looking at the credit info on various credit cards. I have seen Equifax scores at 720 and equifax scores at 670 and so on and so forth. The sad part is that these people control a large part of our lives. This is my last deal, this credit stuff was never that big a deal, and now I'm spending my time trying to learn.

If a young man was smart enough to learn there is a lot of money to be made staying close to this. I'm old and cranky. And the good thing is that the info is out there to see, you can't manipulate it if you can't see it. And I truthfully, even what little knowledge I have makes my window company more profitable.

I can't contol this and I'm too old to learn so I'll just pay everything down to 30% and see what happens. But since Experion will probably bring me to 750+/- after the paydown I should use their site in searching for lenders. I'm going to need 50k to 75k unsecured.

Re: Why 60 points difference.

pizzadude — Thu, 20 Jun 2024 23:33:39 GMT

You're trying to learn but too old to learn ??

Re: Why 60 points difference.

FicoMike0 — Fri, 21 Jun 2024 00:29:46 GMT

As a member of the 70+ club, I feel for you. You haven't given enough details to interest the credit wizards. They really can help. List scores as, ex fico8 730, if that's what it is. Probably should give source and date, to be sure. There is often 60 point difference between fico8 scores and vantage3. It's claimed that there are 28 different fico scores. You're correct that utilization is hurting you.

You show an unpaid collection, paying it might help more than $51 worth.

Re: Why 60 points difference.

Thomas_Thumb — Fri, 21 Jun 2024 01:13:12 GMT

@MeCasa wrote:
I'm 70 but I've got one last deal in me. Deals generally require some sort of financing and a high credit score will smooth the skids.

Experian - 730
TansUnion - 670
Equifax - 674

This week I'll pay everything down below 30% . Why are the two scores so low?

@MeCasa

Given the information provided; it is not possible to ascertain cause for the higher Experian (EX) score. Perhaps it is Fico 8 and your Equifax (EQ) and TransUnion (TU) scores are VantageScore 3.0. Different scoring models could be the cause. Another potential cause for a higher EX score is lack of a derogatory that may still show on your EQ and TU reports.

Focus on improving scores by paying down revolving (credit card) debt. That will provide the greatest score boost regardless of the scoring model. Get all cards below 29% (not 30%). Also, if you have a couple cards with a small balance, pay them to $0.

Call and ask for the collection to be deleted as part of paying it off.

Re: Why 60 points difference.

SouthJamaica — Fri, 21 Jun 2024 02:40:26 GMT

@MeCasa wrote:
Truthfully, we are trying to rationalize where there is no rationalization but greed. Every company does what's best for them and what their advisors say as the path to Nirvana. I spent some time today looking at the credit info on various credit cards. I have seen Equifax scores at 720 and equifax scores at 670 and so on and so forth. The sad part is that these people control a large part of our lives. This is my last deal, this credit stuff was never that big a deal, and now I'm spending my time trying to learn.

If a young man was smart enough to learn there is a lot of money to be made staying close to this. I'm old and cranky. And the good thing is that the info is out there to see, you can't manipulate it if you can't see it. And I truthfully, even what little knowledge I have makes my window company more profitable.

I can't contol this and I'm too old to learn so I'll just pay everything down to 30% and see what happens. But since Experion will probably bring me to 750+/- after the paydown I should use their site in searching for lenders. I'm going to need 50k to 75k unsecured.

Go below 30% to 28%.

Re: Why 60 points difference.

SouthJamaica — Fri, 21 Jun 2024 15:50:42 GMT

@MeCasa wrote:
Truthfully, we are trying to rationalize where there is no rationalization but greed. Every company does what's best for them and what their advisors say as the path to Nirvana. I spent some time today looking at the credit info on various credit cards. I have seen Equifax scores at 720 and equifax scores at 670 and so on and so forth. The sad part is that these people control a large part of our lives. This is my last deal, this credit stuff was never that big a deal, and now I'm spending my time trying to learn.

If a young man was smart enough to learn there is a lot of money to be made staying close to this. I'm old and cranky. And the good thing is that the info is out there to see, you can't manipulate it if you can't see it. And I truthfully, even what little knowledge I have makes my window company more profitable.

It's really quite simple. You asked a question: why the 60 points difference between credit bureaus? The answer is that there must be a difference in the data that is appearing in the credit reports. You would need to see the reports, to determine what the differences were.
You don't have to "learn" anything about FICO formulas. If you review the reports and tell us what the differences were in the data, we can probably explain to you why the scores are different.

I can't contol this and I'm too old to learn so I'll just pay everything down to 30%

30% is not good; 28% would be better

and see what happens.

You're never too old to learn. But as I said, you don't really have to learn anything at this juncture. You just need to find what the differences are in what is in the reports.

But since Experion will probably bring me to 750+/- after the paydown I should use their site in searching for lenders.

Their site and their score have nothing whatsoever to do with each other. As to how and where to search for lenders, you would need to tell us what kind of credit product you're looking for, and we can probably give you some useful suggestions.

I'm going to need 50k to 75k unsecured.

Loan? Line of credit? Credit cards? Business? Personal?

Re: Why 60 points difference.

FicoMike0 — Sat, 22 Jun 2024 02:24:06 GMT

Like I said, they really can help.

Re: Why 60 points difference.

Horseshoez — Sat, 22 Jun 2024 02:29:17 GMT

@MeCasa wrote:

I can't contol this and I'm too old to learn so I'll just pay everything down to 30% and see what happens. But since Experion will probably bring me to 750+/- after the paydown I should use their site in searching for lenders. I'm going to need 50k to 75k unsecured.

LOL, you're only three years older than me and I'm still learning something new practically every day. Trust me, you ain't too old to learn.

Re: Why 60 points difference.

myfarouco — Fri, 28 Jun 2024 21:29:37 GMT

how were you able to send a picture , i try upload picture but i can t see where

Re: Why 60 points difference.

myfarouco — Fri, 28 Jun 2024 22:41:43 GMT

can u please tell how to upload picture ? i need show an error of this experian but can t upload picture while i paid 29$ for subscription

@

Re: Why 60 points difference.

AndySoCal — Sat, 29 Jun 2024 00:22:22 GMT

@myfarouco Here is to upload a photo. Step 1 take a picture of what you want to upload. Next step tap or click on the camera icon. Navigate to where the photo is and select the photo. Next select what size you want the photo be a. Next tell it where you the left right or in center of the post. The click the upload or something that means the same thing.

Re: Why 60 points difference.

FicoMike0 — Sat, 29 Jun 2024 01:32:40 GMT

@AndySoCal thanks, that's straightforward.

@MeCasa I'm even older, here's a deal,

You send me $29,

That's the deal.

Not good enough?

Last days to send in that $29, don't miss out!

Hurry, while supplies last!

Not available in stores!

Re: Why 60 points difference.

myfarouco — Sat, 29 Jun 2024 05:05:46 GMT

thanx but there is no upload camera button , is there a way to talk to support about this?

Re: Why 60 points difference.

FlaDude — Sat, 29 Jun 2024 14:25:44 GMT

@myfarouco wrote:
thanx but there is no upload camera button , is there a way to talk to support about this?

Your rank is "New Member", I think you have to rank up to "Member" before being able to post pictures. Ranks are based on number of posts, number of logins, and time logged into the forum.

Re: Why 60 points difference.

AndySoCal — Sat, 29 Jun 2024 14:38:50 GMT

Disk space

In oder to upload this picture here the steps

1) Click on Choose files

2) Click on what size you want the image to be small medium or Large I choose small

3 Select where in the post you want the image displayed

4) Click Done

I know the picture has zero to do with any thing credit wise . Just using the picture as an example.