topic Re: TU FICO VS EQ FICO in Understanding FICO® Scoring

TU FICO VS EQ FICO

addicted_to_credit — Tue, 21 Jun 2011 23:46:38 GMT

Has any one noticed or has any one had TU seem more sensitive to bal increases? I have noticed that mine drops quicker than EQ and does not gain like EQ either for example if I use the simulator on the "best course of action" my TU will see a smaller increase than my EQ and it has been the case this far

Re: TU FICO VS EQ FICO

laz98 — Tue, 21 Jun 2011 23:54:45 GMT

i did notice that. EQ doesn't seem to like anything i do

Re: TU FICO VS EQ FICO

Anonymous — Wed, 22 Jun 2011 00:04:27 GMT

The correct answer is, both use a different algorithm to calculate scores.

Re: TU FICO VS EQ FICO

addicted_to_credit — Wed, 22 Jun 2011 00:07:41 GMT

For me it's TU that hates me I had a $100.00 increase TU drops 5 points EQ does nothing got an alert from score watch last week that the status of one acct changed I paid off $9.00 yes nine dollar balance AND closed the card and my EQ jumps 9 points and TU did nothing

Re: TU FICO VS EQ FICO

DI — Wed, 22 Jun 2011 00:09:01 GMT

@Anonymous wrote:
The correct answer is, both use a different algorithm to calculate scores.

I don't understand why. Fair Isaac has some explaining to do.

Re: TU FICO VS EQ FICO

addicted_to_credit — Wed, 22 Jun 2011 00:10:26 GMT

networkguy
Regular Contributor

Posts: 122
Registered: 04-17-2007
Re: TU FICO VS EQ FICO
06-21-2011 08:04 PM

The correct answer is, both use a different algorithm to calculate scores.

Huh I would have thought ficos are ficos

Re: TU FICO VS EQ FICO

trumpet-205 — Wed, 22 Jun 2011 00:21:50 GMT

@DI wrote:

I don't understand why. Fair Isaac has some explaining to do.

Even among FICO scores, there are many different models introduced by Fair Isaac.

Re: TU FICO VS EQ FICO

DI — Wed, 22 Jun 2011 00:55:39 GMT

@trumpet-205 wrote:
@DI wrote:

I don't understand why. Fair Isaac has some explaining to do.

Even among FICO scores, there are many different models introduced by Fair Isaac.

Seems like another way to manipulate the system and garner more revenue.

Re: TU FICO VS EQ FICO

addicted_to_credit — Wed, 22 Jun 2011 01:57:22 GMT

When I got my mortgage preapproval they pulled a fico 2 what the difference might be I don't know I believe that some thing that has become as "important" as credit should be one standard system, think about it FICO has Im assuming several different models then you have the countless fakos that even give bad/wrong advise Amex uses what ever suits them at that moment it's just exhausting trying to keep up

Re: TU FICO VS EQ FICO

CS800 — Wed, 22 Jun 2011 01:59:09 GMT

@DI wrote:
@trumpet-205 wrote:
@DI wrote:

I don't understand why. Fair Isaac has some explaining to do.

Even among FICO scores, there are many different models introduced by Fair Isaac.
Seems like another way to manipulate the system and garner more revenue.
Been saying that for a long time and it will continue to be a big source of revenue. Shhhhhhhhhh it's all about the secret formula that we cant tell you but thats what we will use to judge your credit.

Re: TU FICO VS EQ FICO

addicted_to_credit — Wed, 22 Jun 2011 02:04:11 GMT

Couldn't have said it better CS800

Re: TU FICO VS EQ FICO

CS800 — Wed, 22 Jun 2011 02:04:41 GMT

@addicted_to_credit wrote:
Has any one noticed or has any one had TU seem more sensitive to bal increases? I have noticed that mine drops quicker than EQ and does not gain like EQ either for example if I use the simulator on the "best course of action" my TU will see a smaller increase than my EQ and it has been the case this far

One of my Cap one balance went from $5 to $40 and I lost 6 points on TU.

Re: TU FICO VS EQ FICO

addicted_to_credit — Wed, 22 Jun 2011 02:15:40 GMT

Tell me about it Im trying to buy a house right now while trying to wring every point out of all my CR's it's gotten to the point where I don't even want to swipe my cc's

Re: TU FICO VS EQ FICO

CS800 — Wed, 22 Jun 2011 14:34:27 GMT

addicted_to_credit wrote:
Tell me about it Im trying to buy a house right now while trying to wring every point out of all my CR's it's gotten to the point where I don't even want to swipe my cc's
Your scores are good though but then again we live in the fear of tomorrow not knowing what might hit our FICO's.

If the govt wanted to help the people, they would look at the credit scoring world and decide which scoring model to use; instead, they let a lot of companies come out and create their own models. At teh end of the day, you're walking into enemy territory with bad intel. I know a lot of people would say they don't want more govt intefering but would you trust teh private sector to have the people's best interest? Not that the govt has our best interest all teh times but they can definitely help.

Frank and Dodd act should have taken care of that long time ago.

Re: TU FICO VS EQ FICO

addicted_to_credit — Thu, 23 Jun 2011 01:02:21 GMT

I am in the rental industry and AFAIK we dont pull FICOS we go by a Leasing desk score what ever that is I think every one would agree that we dont need credit cards or maybe that 75K BMW at a grand a month but we all need a roof over our head and that one standard system would be nice

Re: TU FICO VS EQ FICO

kjm79 — Thu, 23 Jun 2011 21:46:41 GMT

TU is definitely more sensitive to UTIL. My reported UTIL for TU is 25% and it says this is hurting my score. My reported UTIL for EQ is 24% and it's not listed as either good or bad for my score. So unless that 1% is the "magic" number, TU is more sensitive.

Re: TU FICO VS EQ FICO

Anonymous — Sun, 26 Jun 2011 16:32:58 GMT

@addicted_to_credit wrote:

networkguy
Regular Contributor

Posts: 122
Registered: 04-17-2007
Re: TU FICO VS EQ FICO
06-21-2011 08:04 PM

The correct answer is, both use a different algorithm to calculate scores.

Huh I would have thought ficos are ficos

You would think. EQ uses Beacon and TU uses Empirica...different risk models within Fair Isaac.

Re: TU FICO VS EQ FICO

ficonightmare — Tue, 28 Jun 2011 13:55:22 GMT

@CS800 wrote:
@addicted_to_credit wrote:
Has any one noticed or has any one had TU seem more sensitive to bal increases? I have noticed that mine drops quicker than EQ and does not gain like EQ either for example if I use the simulator on the "best course of action" my TU will see a smaller increase than my EQ and it has been the case this far
One of my Cap one balance went from $5 to $40 and I lost 6 points on TU.

I had something similiar with TU. Made a 22 dollar purchase on a card I don't normally use. My score dropped 6 points. Using 7% of my total credit which is realistic for me. But now I have a negative that says " High Credit Usage". Oh really? pft. I give up.

Re: TU FICO VS EQ FICO

GregB — Tue, 28 Jun 2011 14:46:38 GMT

@ficonightmare wrote:
@CS800 wrote:
@addicted_to_credit wrote:
Has any one noticed or has any one had TU seem more sensitive to bal increases? I have noticed that mine drops quicker than EQ and does not gain like EQ either for example if I use the simulator on the "best course of action" my TU will see a smaller increase than my EQ and it has been the case this far
One of my Cap one balance went from $5 to $40 and I lost 6 points on TU.
I had something similiar with TU. Made a 22 dollar purchase on a card I don't normally use. My score dropped 6 points. Using 7% of my total credit which is realistic for me. But now I have a negative that says " High Credit Usage". Oh really? pft. I give up.

The FICO score is designed to be a risk indicator for a lender. A new use of a card that you don't normally use is an indicator of increased risk. Perhaps it is a very small increase. Perhaps you don't think it indicates any increased risk because you know the reasons behind the usage. The score model doesn't know what you know. It only knows that, statistically, a person that uses a card that they don't normally use is an increased credit risk, even if that in change is small. 6 points off a high score is a very small change.

Most of us decide that our highest score is "our score" and then we are upset when a single point is removed. If you think of your "score" as a normal range, then a few points either way doesn't matter.

If you are struggling to hit a certain score for a loan, the last thing you want to do is something unusual.

Re: TU FICO VS EQ FICO

ficonightmare — Tue, 28 Jun 2011 15:22:14 GMT

I never looked at it that way, GregB. Ahh well, got digned for keeping a card active.

Not sweating 6 points these days. But I would of been royally peeved had this happened when I was rebuilding.