topic Re: Equifax Selling FICO Scores? in Understanding FICO® Scoring

Equifax Selling FICO Scores?

Neblett — Thu, 28 Jun 2007 22:37:14 GMT

Equifax is claiming it's selling FICO Scores on its website, with its own ScoreWatch and Score Simulator programs. They say that they use the FICO scoring formula.

Anyone else know anything about this?

I took a chance and bought the service for a month, and there's almost a 100 point difference from MyFICO and the EQ FICO score. In fact, my EQ Score Power report (from the EQ site) has LESS negatives on it than the FICO report, but my score is considerably less.

What the hey?

BTW - Before people start sending responses with the standard set of answers, I KNOW that "you can only get FICO scores from FICO" - but Equifax is explicitly stating that it uses FICO software and that FICO has endorsed their scoring. This is where this is somewhat different.

Re: Equifax Selling FICO Scores?

smallfry — Thu, 28 Jun 2007 22:42:48 GMT

WTF are you talking about?

Re: Equifax Selling FICO Scores?

Anonymous — Thu, 28 Jun 2007 22:44:40 GMT

can you post a link to this?

Neblett wrote:
Equifax is claiming it's selling FICO Scores on its website....

Re: Equifax Selling FICO Scores?

Neblett — Thu, 28 Jun 2007 22:47:44 GMT

ScoreWatch: http://www.equifax.com/cs/Satellite?pagename=swe_detail&DATI=ACoBADFhMloAADxu2WGsOv%2Bi1FG8MYCdPl7F3h2X6xCfahwGkbhPaAL4AHKRsWbJcp4K%2BeFt%0AJSBrB4jXns72T0Q1kSBY%2Bv6VUkC%2FXfyxbs%2Bs4AqEF5wZBthocO6MacpY9XGfkjP6T7QeTYgG%0AGEe%2B1ooe5o%2FpRwmYlkRT8VYm%2F%2BqXf4EfPMPtZM1Sl2vxL7mtvRtdUIWtp1B8s0A9

Score Power: http://www.equifax.com/fico-credit-score/

Re: Equifax Selling FICO Scores?

Neblett — Thu, 28 Jun 2007 22:56:18 GMT

Here's what I get from the EQ FICO ScoreWatch program:

Type of Account Number of Accounts Total Balance of Accounts
Mortgage 0 $0
Installment 28 $98,713
Revolving 4 $56
Other 0 $0
Total Accounts 32 $98,769

Number of Open Accounts: 8
Number of Closed Accounts: 24
Total Accounts in Good Standing: 30
Accounts Currently Past Due: 0
Negative Account History: 0
Inquiries in Last 12 Months: 32

With 30 Accounts in Good Standing and 0 Negs and 0 Past Due, why is my score "Poor"?

Re: Equifax Selling FICO Scores?

fused — Thu, 28 Jun 2007 23:10:52 GMT

Neblett wrote:
Equifax is claiming it's selling FICO Scores on its website, with its own ScoreWatch and Score Simulator programs. They say that they use the FICO scoring formula.

Anyone else know anything about this?

I took a chance and bought the service for a month, and there's almost a 100 point difference from MyFICO and the EQ FICO score. In fact, my EQ Score Power report (from the EQ site) has LESS negatives on it than the FICO report, but my score is considerably less.

What the hey?

BTW - Before people start sending responses with the standard set of answers, I KNOW that "you can only get FICO scores from FICO" - but Equifax is explicitly stating that it uses FICO software and that FICO has endorsed their scoring. This is where this is somewhat different.

An EQ score from their website will be the same as a FICO EQ score. Not true for the other two CRAs though.

Re: Equifax Selling FICO Scores?

Neblett — Thu, 28 Jun 2007 23:18:38 GMT

fused111 wrote:

An EQ score from their website will be the same as a FICO EQ score. Not true for the other two CRAs though.

REALLY?!

MyFICO says my score is 622, while EQ FICO says its 585. My math skills may be a little fuzzy, but I know they ain't equal.

Re: Equifax Selling FICO Scores?

fused — Thu, 28 Jun 2007 23:26:40 GMT

Neblett wrote:

fused111 wrote:

An EQ score from their website will be the same as a FICO EQ score. Not true for the other two CRAs though.
REALLY?!

MyFICO says my score is 622, while EQ FICO says its 585. My math skills may be a little fuzzy, but I know they ain't equal.

If you pull your EQ report from equifax. com with a score, then come to my FICO and pull your FICO EQ score, they are suppose to be indentical. Unless of course, something suddenly happens in the span of time it took you to pull both.

So you pulled an EQ from this site and one from equifax.com?

Re: Equifax Selling FICO Scores?

Neblett — Thu, 28 Jun 2007 23:28:55 GMT

fused111 wrote:

If you pull your EQ report from equifax. com with a score, then come to my FICO and pull your FICO EQ score, they are suppose to be indentical. Unless of course, something suddenly happens in the span of time it took you to pull both.

So you pulled an EQ from this site and one from equifax.com?

Yes, I did. Both today.

Re: Equifax Selling FICO Scores?

Tuscani — Fri, 29 Jun 2007 02:47:32 GMT

Neblett wrote:

fused111 wrote:

If you pull your EQ report from equifax. com with a score, then come to my FICO and pull your FICO EQ score, they are suppose to be indentical. Unless of course, something suddenly happens in the span of time it took you to pull both.

So you pulled an EQ from this site and one from equifax.com?

Yes, I did. Both today.

The scores should be the same. Are there any differences in the two reports? You bought an updated MyFICO report right?

Re: Equifax Selling FICO Scores?

Anonymous — Fri, 29 Jun 2007 03:06:26 GMT

MyFICO sells credit scores for all 3 credit agencies. Equifax only sells the FICO score for Equifax. You might have a score for Experian or Transunion from MyFICO. Check to see if you bought all 3 or just Equifax.

Equifax and MyFico use the same exact FICO formula both provided from Fair Isaacs the owner of the formula software. Scores should be exactly the same. ScoreWatch is slightly different, but scores are the same.

Re: Equifax Selling FICO Scores?

Neblett — Fri, 29 Jun 2007 03:12:45 GMT

The scores that I am looking at are both Equifax.

And yes, the information from EQ on both reports is exactly the same. In fact, the EQ FICO report looks even better than the one from MyFICO - but MyFICO is still 50 points higher.

And, yes, I agree the scores SHOULD be exactly the same. But they're not. I SHOULD be able to qualify for a credit card with a couple of my scores, but I can't. I SHOULD already be in a car, but I'm not.

Message Edited by Neblett on 06-28-2007 10:12 PM

Re: Equifax Selling FICO Scores?

Anonymous — Fri, 29 Jun 2007 04:59:46 GMT

@Neblett wrote:
The scores that I am looking at are both Equifax.

And yes, the information from EQ on both reports is exactly the same. In fact, the EQ FICO report looks even better than the one from MyFICO - but MyFICO is still 50 points higher.

And, yes, I agree the scores SHOULD be exactly the same. But they're not. I SHOULD be able to qualify for a credit card with a couple of my scores, but I can't. I SHOULD already be in a car, but I'm not.

Message Edited by Neblett on 06-28-2007 10:12 PM

Contact both MyFICO and Equifax and tell them what happened. They can help or ask them to pull your scores over again. They should match this time. Something had to change. Sometimes it is hard to see. It skips past me all the time. You should be able to get them to pull a new score..

Actually repull the one you did FIRST!. Maybe it will match the other one since something had to have change.

Re: Equifax Selling FICO Scores?

Anonymous — Fri, 29 Jun 2007 05:38:49 GMT

Perhaps the mismatch is related to the problem reported here:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=17405

Re: Equifax Selling FICO Scores?

fused — Fri, 29 Jun 2007 05:52:40 GMT

dog wrote:
can you post a link to this?
Neblett wrote:
Equifax is claiming it's selling FICO Scores on its website....

No, its EX! But maybe the other two are doing the same.

Re: Equifax Selling FICO Scores?

Neblett — Fri, 29 Jun 2007 11:15:56 GMT

No, it is not Experian.

It is Equifax.

Re: Equifax Selling FICO Scores?

MidnightVoice — Fri, 29 Jun 2007 12:14:39 GMT

It is possible that it is slow updating on MyFICO. For example, I have a new cc that I have run up a big bill on (deliberately) the first month. It has reported the balance to all 3, and as I expected, my TC FAKO for EQ has taken a hit because if utilization % going up (from about 5 to about 26%). (and yes everyone, it will be Piffed to hit the magic number ). So far, scorewatch has not hit me with a decrease. I am really expecting one soon.

Re: Equifax Selling FICO Scores?

Neblett — Sat, 30 Jun 2007 16:37:33 GMT

Yep, slow updating on MyFICO.

MyFICO reported my score the same as the EQ FICO today.