topic Re: Differences in Credit Report on MyFico Vs. Equifax.... in myFICO® Product Feedback

Differences in Credit Report on MyFico Vs. Equifax....

Anonymous — Tue, 27 Apr 2010 21:42:43 GMT

So today I ordered an Equifax report from MyFico and saw some things on my report I could have sworn were taken off. So I ordered a report from Equifax so I could dispute the items and when I ordered the report, the item was not listed. As was not a few other things with Discreprencies.......whats going on here? Which report can I trust if lenders for either Auto/Home/Credit Cards are pulling?

Thanks in advance...

Re: Differences in Credit Report on MyFico Vs. Equifax....

smallfry — Tue, 27 Apr 2010 23:12:33 GMT

Get a paper copy of Equifax report from Equifax. In this case I would trust Equifax 100 out of 100 times.

Re: Differences in Credit Report on MyFico Vs. Equifax....

RobertEG — Wed, 28 Apr 2010 02:29:41 GMT

Curious, and excellent, question.

I was always under the impression that Fair Isaac does not themselves database current credit data, and it is my further understanding that current CRA data does not even go back to Fair Isaac prior to scoring. Rather, it is my understanding that Fair Isaac licenses their algorithms up-front to the CRAs, and thus the reports and scores you get are all generated at the CRA and should be instantaneous and the same as of the same time of request.

So maybe their is a lag between the myFICO commercial service, who does a second review of your CR for commercial genaration of their myFICO reports, and your true and current CR and score wit the CRA? I dunno. Maybe someone canshed some light on this....

Re: Differences in Credit Report on MyFico Vs. Equifax....

Anonymous — Wed, 28 Apr 2010 12:49:30 GMT

@smallfry wrote:
Get a paper copy of Equifax report from Equifax. In this case I would trust Equifax 100 out of 100 times.

Re: Differences in Credit Report on MyFico Vs. Equifax....

Anonymous — Wed, 28 Apr 2010 13:00:23 GMT

Yes, there is a lag. As Robert stated in another thread, what's at myFico isn't necessarily what's on other reports you would receive from the bureaus. How long ago were the items disputed and removed? If it was just a couple weeks ago, or days ago, give it time to catch up. If it was six months ago or years ago, I'd be worried, too. How long has it been? If it has been six months or years ago, and they're still coming up on myFico but not your report from the bureaus themselves, perhaps a myFico employee or supercontributor can explain what the deal is, and how to fix that?

Re: Differences in Credit Report on MyFico Vs. Equifax....

Anonymous — Wed, 28 Apr 2010 13:55:11 GMT

I cant remember but I want to say it has been many months ago, not quite a year but not too far from it. Its a pretty hefty one too, it was a $4000 default which was actually my mothers but showed up on my credit report under my SS#. They had garnished MY wages for this even though it wasnt even my name, it was a nightmare to fix, but its now all settled with the company and should have been removed. I almost couldnt get a car last year because of it. If anyone from myFICO can shed some light on this that would be appreciated.....

Re: Differences in Credit Report on MyFico Vs. Equifax....

Anonymous — Sun, 02 May 2010 03:39:31 GMT

Bump

Re: Differences in Credit Report on MyFico Vs. Equifax....

smallfry — Sun, 02 May 2010 04:12:57 GMT

You can get EQ SW for $60 annually. You can always get an EQ report. Go from there.

Re: Differences in Credit Report on MyFico Vs. Equifax....

Jazzzy — Sun, 02 May 2010 13:05:03 GMT

Hi cd73,

I would recommend that you post this question on the myFICO Product Feedback forum that is located in the category This 'n' That. Barry, who works with ScoreWatch often posts there and may have some answers or advice for you.

Re: Differences in Credit Report on MyFico Vs. Equifax....

Barry — Mon, 03 May 2010 20:31:43 GMT

@RobertEG wrote:

Curious, and excellent, question.

I was always under the impression that Fair Isaac does not themselves database current credit data, and it is my further understanding that current CRA data does not even go back to Fair Isaac prior to scoring. Rather, it is my understanding that Fair Isaac licenses their algorithms up-front to the CRAs, and thus the reports and scores you get are all generated at the CRA and should be instantaneous and the same as of the same time of request.

So maybe their is a lag between the myFICO commercial service, who does a second review of your CR for commercial genaration of their myFICO reports, and your true and current CR and score wit the CRA? I dunno. Maybe someone canshed some light on this....

You're right about who does what in this process, RobertEG. For the most part, the reports you get from EQ and myFICO should be identical as of the same point in time. If you're seeing otherwise, I would suggest contacting myFICO customer care.

Re: Differences in Credit Report on MyFico Vs. Equifax....

Anonymous — Tue, 04 May 2010 03:47:22 GMT

Same thing happened to me. I have a membership with Scorewatch. I've noticed several discrepancies. For example, I had a charge off account with Dell back in 03. This fell off on the other 2 reports thru myfico and the individual CRAs. I looked on my report my report thru Equifax and its still showing, My accounts under myfico for equifax is no longer showing. I updated my report on SW and that was a waste of $10.95. Also, I haven't gotten an alert for my score improving. When I checked on myfico, I'm 672. It matched on both as 663 a month or so ago. I liked SW up until a month ago.

I've been hearing about a lot of glitches with SW.

pdinero