topic Re: discrepency in Fico from CRA and MyFico? in General Credit Topics

discrepency in Fico from CRA and MyFico?

raisemysc0re — Tue, 08 Nov 2016 21:23:46 GMT

I just went to Experian's site and ordered my report and score to check on a derog that MyFico reports shows but the Experian Dispute site did not.

Experian shows my Fico8 score as being 656 but my MyFico Experian score is only showing up as 632 (updated 10/27/16). 24 point difference...

Is it just that MyFico is sometimes not updating because nothing has triggered it to update?

Re: discrepency in Fico from CRA and MyFico?

raisemysc0re — Wed, 09 Nov 2016 00:54:40 GMT

I am now checking TransUnion:

MyFico TU score is 630

TransUnion Website Fico8 is 672

That's a 42 point difference...

If this is the case then why am I paying 29.95/mo to MyFico?

Re: discrepency in Fico from CRA and MyFico?

iv — Wed, 09 Nov 2016 06:32:28 GMT

@raisemysc0re wrote:
I am now checking TransUnion:
MyFico TU score is 630
TransUnion Website Fico8 is 672
That's a 42 point difference...

If this is the case then why am I paying 29.95/mo to MyFico?

Well, the score for sale from transunion.com isn't a FICO 8, unless something changed very recently... it's just an "educational" score. (IE: useless)

Re: discrepency in Fico from CRA and MyFico?

lg8302ch — Wed, 09 Nov 2016 09:48:44 GMT

For me MyFico is about 24hrs behind with alerts and score changes. My recent inquiry showed up on all other free tools I use first before MyFico alerted me about the EQ hard inquiry. As for your scores are you comparing Fico 8 with Fico 8 or with their internal / educational score? I am not sure what you get from the CRAs directly.

Re: discrepency in Fico from CRA and MyFico?

raisemysc0re — Wed, 09 Nov 2016 10:25:21 GMT

I can see that TU is showing a FAKO score but EX is stating that it is FICO8

Re: discrepency in Fico from CRA and MyFico?

iv — Thu, 10 Nov 2016 02:05:51 GMT

@raisemysc0re wrote:
I can see that TU is showing a FAKO score but EX is stating that it is FICO8

It sounds like the difference there is due to a negative item that has recently been removed from your EX report?

MyFICO monitoring doesn't trigger on REMOVAL of items... you'll have to wait until some other trigger forces an update, or manually pull a fresh EX report from MyFICO.

(This is an issue with most monitoring systems - negative items disappearing hasn't historically been setup as a trigger.)

Re: discrepency in Fico from CRA and MyFico?

raisemysc0re — Thu, 10 Nov 2016 13:28:49 GMT

That explains it since I just did a dispute. But I have not received any notification that the dispute was successfully resolved...

My 2 other scores just went up in the last 2 days (EQ +16 and TU +18).

Since I just recently got a Cap1 10K Quicksilver card, I thought it was due to that but who knows???

I will patiently wait for MyFico to update...

Re: discrepency in Fico from CRA and MyFico?

iv — Thu, 10 Nov 2016 19:54:25 GMT

@raisemysc0re wrote:
That explains it since I just did a dispute. But I have not received any notification that the dispute was successfully resolved...
My 2 other scores just went up in the last 2 days (EQ +16 and TU +18).
Since I just recently got a Cap1 10K Quicksilver card, I thought it was due to that but who knows???
I will patiently wait for MyFico to update...

Also be aware that while an account is in dispute status, it stops counting for some or all of the FICO scoring process.

Once the dispute is resolved, if the account itself, or negative entries on the account, are removed from the report, monitoring won't pick up on that until triggered by something else being added/changed.

In short, it could easily take as long as a month after the resolution of a dispute or removal of negative items for all monitoring services to start displaying the same data again...

Re: discrepency in Fico from CRA and MyFico?

raisemysc0re — Thu, 10 Nov 2016 20:12:56 GMT

Ahh...

So the difference in points in probably due to the CRA not counting the disputed item which would obviously be negative since it is showing 130K balance on a closed account...

I'm still hoping that the 24 point difference is due to my new Capital One CC and that I'll see an additional jump when the dispute is resolved... But I won't count on it.

Thank You for the awesome information and looking at your current 820+ scores is both an inspiration and a feeling of dread at the same time