topic Credit Reports, Charge card calcs, where is the correct scoring system "place" in General Credit Topics

Credit Reports, Charge card calcs, where is the correct scoring system "place"

Anonymous — Sun, 06 Mar 2011 23:52:35 GMT

Hey Chaps,

OK so I have the citi identity moniter credit report system that downloads my scores and reports every month for me to see.

So my scores went down by approx 50 to 60 points out of nowhere in 1 month. Last month my Trans Union was 720 this month its 650

Now I got approved for 2 Amex charge cards in dec 2010 and have been using them, my history is perfect for all accounts for years as in no missed payments hence the 720 score. I got a new lease bmw in dec 2010 too.

Questions"

- Does the citi credit score system consider charge cards a credit revolver card hence hurting my score? If so im going to cancel this bringer of fake bad news

-where can I get the actual real scores that correctly calculate charge cards into the score. I thought only TU98 didnt correctly calculate charge cards as they have no credit limit defined.

My Vantage score today is 744 {up from last years check by 80 pts}, so I think its the scoring system at citi {well i hope}

If I ever find the Peasant that made up this scoring module.....well God Help him....

Thanks guys

Re: Credit Reports, Charge card calcs, where is the correct scoring system "place"

llecs — Mon, 07 Mar 2011 04:10:47 GMT

Ignore all of those scores. None of them are FICO scores and lenders don't use them.

The score from Citi's service is a FAKO called a PLUS which runs on a scale of 350-830 (or maybe to 850), IIRC. The VantageScore (e.g. from TrueCredit or CreditKarma) is a FAKO that runs on a scale from 501-990. Each calculate things differently from each other and none of them are remotely close to FICO with respect to accuracy.

PLUS scores (e.g. Citi, CCT, and others) seem to factor my Amex into util. I ignore the score anyway.

The TU version on myFICO.com is a TU98 as you mentioned and it factors in the high balance unlike later versions. You can't purchase any TU FICO anywhere that factors out charge cards, though a lender can provide it for you if they pull TU04 or later. The EQ FICO version on here correctly factors out charge cards per util.

Re: Credit Reports, Charge card calcs, where is the correct scoring system "place"

Anonymous — Mon, 07 Mar 2011 22:11:01 GMT

Thank you very much!!