topic Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem? in myFICO® Product Feedback

Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Tue, 01 May 2007 17:24:19 GMT

So, I ran my EQ on myfico and almost puked...it DROPPED 32 points!! I discovered that it's because an old CO is now showing as active and they're including it in the UT calculation. It says my UT is 75% when it should be 36%. I freaked out and popped for the other two reports, and they are showing correctly (with a 14pt increase on EX and 22 pt on TU! yay!). Who do I take this up with--myfico.com or EQ?

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Tuscani — Tue, 01 May 2007 17:51:03 GMT

twnkltoz wrote:
So, I ran my EQ on myfico and almost puked...it DROPPED 32 points!! I discovered that it's because an old CO is now showing as active and they're including it in the UT calculation. It says my UT is 75% when it should be 36%. I freaked out and popped for the other two reports, and they are showing correctly (with a 14pt increase on EX and 22 pt on TU! yay!). Who do I take this up with--myfico.com or EQ?

So the CO must only be reporting on EQ right? Otherwise, your TU and EX would not have increased with a new CO. Also, your beef should be with the CRA, not MyFico. MyFico simply generates a score with the information given. They are not responsible for information on your reports.

Also, keep in mind, your three scores will rarely ever be the same. Work on getting the collection removed and you will bounce back.

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Tue, 01 May 2007 17:59:53 GMT

It is reporting to all three, but EX and TU are calculating correctly.

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Tuscani — Tue, 01 May 2007 18:09:54 GMT

Doesn't sound like they are if you gained points with a new collection.

What are your TL differences betweens all three reports?

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Tuscani — Tue, 01 May 2007 18:10:48 GMT

Also, you are pulling your TU and EX scores from MyFico and not the CRAs right?

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Tue, 01 May 2007 18:15:08 GMT

Correct--all three reports were from myfico. That does make me think that it's an EQ problem, but I thought it might be a FICO calculation problem, like they're looking at the account wrong?

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Tue, 01 May 2007 18:17:03 GMT

Oh, sorry...it's not a new collection. It's been there for a long time, but I think EQ is looking at it as current while the others are still disregarding it for UT purposes.

EQ: 568 (was 600)

EX: 600 (was 586)

TU: 634 (was 612)

At least my middle score stayed the same!

Message Edited by twnkltoz on 05-01-2007 11:17 AM

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Tuscani — Tue, 01 May 2007 18:24:56 GMT

twnkltoz wrote:
Oh, sorry...it's not a new collection. It's been there for a long time, but I think EQ is looking at it as current while the others are still disregarding it for UT purposes.

EQ: 568 (was 600)
EX: 600 (was 586)
TU: 634 (was 612)

At least my middle score stayed the same!

Message Edited by twnkltoz on 05-01-2007 11:17 AM

AH Ok. You had me scratching my head there.

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Tue, 01 May 2007 19:33:11 GMT

So, with greater clarity...do I still need to talk to EQ?

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Wed, 02 May 2007 15:45:02 GMT

Well, I called EQ, and they said it's showing as an open account. But they're also showing it as a CO!! Dumb***es. She started an investigation...I hope it doesn't take forever!! The "last reported" date updated, too...

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Tuscani — Wed, 02 May 2007 16:07:24 GMT

twnkltoz wrote:
Well, I called EQ, and they said it's showing as an open account. But they're also showing it as a CO!! Dumb***es. She started an investigation...I hope it doesn't take forever!! The "last reported" date updated, too...

Cool, keep us updated.

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Thu, 03 May 2007 18:21:19 GMT

OH MY GOD I AM SO FREAKING PISSED!!!!!!

I ran my EQ on myfico again today because I saw on TC that this a/c is no longer under investigation. Guess what? EQ has it as charged off again instead of open (which is good); however....they have it as charged off in 5/07!!!!! meaning, it looks like a new charge-off. They're STILL including it in UT, and now they show it as a late payment in the last month to boot!! They dropped my score ANOTHER 6 points!!!! I wish i'd never disputed it in the first place and they would have left it alone.

I sent them a hand-written letter last week to verify or delete, so I guess I shouldn't do anything else until the results of that come back? At least my mid score is still 600 because EX has their act together (relatively so, anyway), but if EQ weren't such idiots my mid would be even higher, maybe even the 620 that would make life so much easier.

Any advice? Wait it out, or do another phone/online dispute to get the last reported/charge off date fixed as a short-term solution?

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Tuscani — Sat, 05 May 2007 02:14:52 GMT

twnkltoz wrote:
OH MY GOD I AM SO FREAKING PISSED!!!!!!

I ran my EQ on myfico again today because I saw on TC that this a/c is no longer under investigation. Guess what? EQ has it as charged off again instead of open (which is good); however....they have it as charged off in 5/07!!!!! meaning, it looks like a new charge-off. They're STILL including it in UT, and now they show it as a late payment in the last month to boot!! They dropped my score ANOTHER 6 points!!!! I wish i'd never disputed it in the first place and they would have left it alone.

I sent them a hand-written letter last week to verify or delete, so I guess I shouldn't do anything else until the results of that come back? At least my mid score is still 600 because EX has their act together (relatively so, anyway), but if EQ weren't such idiots my mid would be even higher, maybe even the 620 that would make life so much easier.

Any advice? Wait it out, or do another phone/online dispute to get the last reported/charge off date fixed as a short-term solution?

If it is closed there is no impact on your utilization. Your score dropped because of the recent late.. remember though, this does not restart the 7 year clock. Wait out your existing dispute before submitting another.

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Sat, 05 May 2007 02:41:56 GMT

Well, whatever the issue is...according to myfico theyr'e including it in my utilization and my amount of debt.

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Sat, 05 May 2007 02:44:59 GMT

On the bright side, they deleted another of my old charge offs! Go figure.

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Tuscani — Sat, 05 May 2007 13:40:38 GMT

I was wrong.. I apologize. Looks like balances on closed accounts DO affect utilization. Sorry about that!

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Anonymous — Sat, 05 May 2007 16:02:11 GMT

Well, I don't think it should. It didn't before this whole issue came up!

Re: Help! Incorrect UT calculation: myfico.com problem or EQ problem?

Tuscani — Sat, 05 May 2007 16:08:06 GMT

I agree. And I was under the same impression as you. I thought only opened accounts were factored. So thanks for teaching me something!