topic Confused about SW EQ Score in myFICO® Product Feedback

Confused about SW EQ Score

CS800 — Sat, 25 Jun 2011 20:05:23 GMT

On May 21st according to my scorewatch, i had a $1004 revolving balance (52% of total util)

Cap one finally corrected my EQ to the correct balance of $30.

According to the sim if my balance was about $30, my score would jump between 633-673 (on this may 21st report my EQ fico was 623)

So i bought a report and till t this day no jump at all. The only jump I had was from an HSBC account reporting after a10 months

I was hoping that myfico would catch but nothing. I had a no-alert today. That's just not right. So by paying down this big amoutn and bringing my util to 1% from 52% i get no jump? There is something wrong here.

Hoping the admins or mods could shed some light on that.

Re: Confused about SW EQ Score

Barry — Mon, 27 Jun 2011 19:56:11 GMT

Hi CS800,

No jump at all? How do you figure that your score increase that puts you well within the simulated range was solely due to your HSBC reporting and not due at all to the reduction in utilization? I'm not saying you're wrong, but just wondering how you know that?

Also, did you not receive the alert sent on 6/17 advising of your score increase?

-Barry

Re: Confused about SW EQ Score

CS800 — Tue, 28 Jun 2011 02:06:35 GMT

@Barry wrote:
Hi CS800,

No jump at all? How do you figure that your score increase that puts you well within the simulated range was solely due to your HSBC reporting and not due at all to the reduction in utilization? I'm not saying you're wrong, but just wondering how you know that?

Also, did you not receive the alert sent on 6/17 advising of your score increase?

-Barry

Hello Barry,

The jump I got was solely from the HSBC, reason why I say that is when you get an alert, and click on more info, the only thing there was HSBC reporting after 10 months of not reporting a 0 balance.

According to the FICO sim, just by cap one reporting $30 instead of $1004 which should make my util go from 52% to 1%, my scores should have been 623 to 673.

So from my util going down drastically, I didn't get any boost. That's why I'm thinking there is something buggy at least with my EQ SW.

Re: Confused about SW EQ Score

CS800 — Tue, 28 Jun 2011 02:15:07 GMT

So my score was 623, i used the sim then and simulated a balance of $30 with cap one it said 633-673

-----------

The on June 4 I get this alert and my score goes up by 3 points :

Your FICO® score has gone up to 626 on June 4, 2011.

Target score alert:

Your FICO® score has exceeded your target score of 623.

Your FICO score may have gone up because the following 4 factors are not hurting your FICO score as much as before:

You have a serious delinquency (60 days past due or greater) or a derogatory description on your credit report.
You’ve recently missed a payment or the date of your most recent missed payment is unknown.
You have multiple accounts showing missed payments or derogatory descriptions.
You have a short credit history.

Then on the 17th I get this HSBC alert and my score shoots to 640:

Alert:Your FICO® score has exceeded your target score of 626

Score Watch alert/Changes to your FICO® Score

Your FICO® score has gone up to 640 on June 17, 2011.

Target score alert:

Your FICO® score has exceeded your target score of 626.

Changes to your credit report

This jump in your FICO® score happened on the same day as a change on your Equifax Credit Report™ which triggered an alert. It's likely that the change in your credit report caused your score to go up, but this is not always the case. Your score may have changed for other reasons, such as paying back your debts responsibly, which isn't always reported as a credit alert. Also, as factors that were hurting your score get older, they have less of a negative impact on your score. In addition, if multiple changes on the credit report happened on the same day, some may have hurt the score while others helped it.

1 of your previously dormant accounts reported recent activity

HOUSEHOLD BANK (XXXXXXXXXXXX1075)
Recent activity detected: 5/1/2011

Show/Hide Details

Account opened: 4/2008
Description: Credit card
Amount in H/C column is credit limit

	Previously reported	Newly reported
Date of last activity:	8/1/2010	5/1/2011

You received this alert because there is new activity on this account that was inactive for more than months.
You can change the settings for this kind of alert here.

Contact: HOUSEHOLD BANK, 12447 SW 69th Ave, Attn: Dispute Processing, Tigard, OR, 972238517 • (800) 477-6000

So as you can see from 623 to 640 had nothing to do with Cap One. But with my latest SW, now Cap one is reporting the correct balance of $30. This in itself as I said brought my total util from 52% to 1%

So i was hoping that i should have gotten a nice boost from this. Am I wrong?

Re: Confused about SW EQ Score

CS800 — Wed, 29 Jun 2011 23:18:50 GMT

So, I was told by a mod on here that the reason why I didnt get a boost is because i probably have a dispute ongoing for this Cap One account which I did. I disputed to have Cap One report the correct balance and so they did. They sent me a letter stating that my balance is now $30 instead of $1004.

Also got a letter from Equifax stating that investigation has been completed and showed me exactly waht Cap one sent me.

That said, I wanted to see how to remove the dispute from this cap one account from my credit report.

I called Equifax todaya nd the nice lady confirmed that the dispute comment was removed June 17th. They got the request from Cap One saying investigation was completed and dispute has been resolved. So the Equifax saw that in the dispute history, there was a dispute but it was removed Jun 17th. What she said was that SW probably hasnt updated their system yet or that my account needed to be refreshed by SW or myfico (yes she was aware of myfico )

The latest EQ SW report that i bought was on June 17th (what a coincidence) . When I print the SW full report, I still don't see the account being in dispute status. Normally on the report it would be under description if there was an ongoing dispute.

But the same day i went to annualreport.com and got my free EQ for the year and I didn't see any dispute for Cap One or any other accounts. So where would I see the dispute in an account is being disputed?

-------------------------------------- Info from SW full report---------------

Cap One Jun, 2011

Status as of Date opened [?] Date of last activity [?] Credit limit [?] Account Type [?] Account holder [?] Scheduled Payment Amount [?] Industry

Jun, 2011

Feb, 2008

Mar, 2011

$1,100

Revolving

Individual

$35

All Banks

Descriptions [?]

Credit Card

--------------------------------------------------------------

So not sure what's going on with my EQ SW. HELP !!!!!

Re: Confused about SW EQ Score

Barry — Thu, 30 Jun 2011 19:21:27 GMT

@CS800 wrote:

@Barry wrote:

Hi CS800,

No jump at all? How do you figure that your score increase that puts you well within the simulated range was solely due to your HSBC reporting and not due at all to the reduction in utilization? I'm not saying you're wrong, but just wondering how you know that?

Also, did you not receive the alert sent on 6/17 advising of your score increase?

-Barry

Hello Barry,

The jump I got was solely from the HSBC, reason why I say that is when you get an alert, and click on more info, the only thing there was HSBC reporting after 10 months of not reporting a 0 balance.

According to the FICO sim, just by cap one reporting $30 instead of $1004 which should make my util go from 52% to 1%, my scores should have been 623 to 673.

So from my util going down drastically, I didn't get any boost. That's why I'm thinking there is something buggy at least with my EQ SW.

Glad I asked! Please understand that Score Watch alerts only "suggest" what might be impacting your score change. They can't tell you exactly what happened. As a result, I'm going to "suggest" that, while the reporting of your HSBC could have had something to do with it, the reduction in your utilization also could have had an impact.

-Barry

Re: Confused about SW EQ Score

Barry — Fri, 14 Oct 2011 21:33:38 GMT

@CS800 wrote:

So, I was told by a mod on here that the reason why I didnt get a boost is because i probably have a dispute ongoing for this Cap One account which I did. I disputed to have Cap One report the correct balance and so they did. They sent me a letter stating that my balance is now $30 instead of $1004.

Also got a letter from Equifax stating that investigation has been completed and showed me exactly waht Cap one sent me.

That said, I wanted to see how to remove the dispute from this cap one account from my credit report.

I called Equifax todaya nd the nice lady confirmed that the dispute comment was removed June 17th. They got the request from Cap One saying investigation was completed and dispute has been resolved. So the Equifax saw that in the dispute history, there was a dispute but it was removed Jun 17th. What she said was that SW probably hasnt updated their system yet or that my account needed to be refreshed by SW or myfico (yes she was aware of myfico )

The latest EQ SW report that i bought was on June 17th (what a coincidence) . When I print the SW full report, I still don't see the account being in dispute status. Normally on the report it would be under description if there was an ongoing dispute.

But the same day i went to annualreport.com and got my free EQ for the year and I didn't see any dispute for Cap One or any other accounts. So where would I see the dispute in an account is being disputed?

--------------------------------------------------------------

So not sure what's going on with my EQ SW. HELP !!!!!

If the account is in dispute, it would say so in the "description" ~~are~~ part of the trade line on the myFICO report.

-Barry

Re: Confused about SW EQ Score

CS800 — Wed, 06 Jul 2011 01:35:57 GMT

@Barry wrote:
@CS800 wrote:
So, I was told by a mod on here that the reason why I didnt get a boost is because i probably have a dispute ongoing for this Cap One account which I did. I disputed to have Cap One report the correct balance and so they did. They sent me a letter stating that my balance is now $30 instead of $1004.

Also got a letter from Equifax stating that investigation has been completed and showed me exactly waht Cap one sent me.

That said, I wanted to see how to remove the dispute from this cap one account from my credit report.

I called Equifax todaya nd the nice lady confirmed that the dispute comment was removed June 17th. They got the request from Cap One saying investigation was completed and dispute has been resolved. So the Equifax saw that in the dispute history, there was a dispute but it was removed Jun 17th. What she said was that SW probably hasnt updated their system yet or that my account needed to be refreshed by SW or myfico (yes she was aware of myfico )

The latest EQ SW report that i bought was on June 17th (what a coincidence) . When I print the SW full report, I still don't see the account being in dispute status. Normally on the report it would be under description if there was an ongoing dispute.

But the same day i went to annualreport.com and got my free EQ for the year and I didn't see any dispute for Cap One or any other accounts. So where would I see the dispute in an account is being disputed?

--------------------------------------------------------------

So not sure what's going on with my EQ SW. HELP !!!!!
If the account is in dispute, it would say so in the "description" are of the trade line on the myFICO report.

-Barry

So Barry, i'm still confused as to why my Cap One util going from 52% to 1% didn't give me any boost.

Note that I went from 623 to 640 while my Cap One was still reporting $1004 (92% util)

Then when I bought the following SW report and score, it showed Cap one with balance of $30 (util of 1%)

But my score didn't move at all. I'm desperately trying to find the logic here.

Re: Confused about SW EQ Score

Barry — Wed, 06 Jul 2011 22:50:55 GMT

@CS800 wrote:

@Barry wrote:

@CS800 wrote:

So, I was told by a mod on here that the reason why I didnt get a boost is because i probably have a dispute ongoing for this Cap One account which I did. I disputed to have Cap One report the correct balance and so they did. They sent me a letter stating that my balance is now $30 instead of $1004.

Also got a letter from Equifax stating that investigation has been completed and showed me exactly waht Cap one sent me.

That said, I wanted to see how to remove the dispute from this cap one account from my credit report.

I called Equifax todaya nd the nice lady confirmed that the dispute comment was removed June 17th. They got the request from Cap One saying investigation was completed and dispute has been resolved. So the Equifax saw that in the dispute history, there was a dispute but it was removed Jun 17th. What she said was that SW probably hasnt updated their system yet or that my account needed to be refreshed by SW or myfico (yes she was aware of myfico )

The latest EQ SW report that i bought was on June 17th (what a coincidence) . When I print the SW full report, I still don't see the account being in dispute status. Normally on the report it would be under description if there was an ongoing dispute.

But the same day i went to annualreport.com and got my free EQ for the year and I didn't see any dispute for Cap One or any other accounts. So where would I see the dispute in an account is being disputed?

--------------------------------------------------------------

So not sure what's going on with my EQ SW. HELP !!!!!

If the account is in dispute, it would say so in the "description" are of the trade line on the myFICO report.

-Barry

So Barry, i'm still confused as to why my Cap One util going from 52% to 1% didn't give me any boost.

Note that I went from 623 to 640 while my Cap One was still reporting $1004 (92% util)

Then when I bought the following SW report and score, it showed Cap one with balance of $30 (util of 1%)

But my score didn't move at all. I'm desperately trying to find the logic here.

Hi CS800,

The only thing I can suggest is that perhaps neither the drop in util on the one card nor the overall drop in util was enough to raise your score. Sounds crazy, but it happens.

-Barry

Re: Confused about SW EQ Score

CS800 — Thu, 07 Jul 2011 00:55:51 GMT

Ok thanks for the heads up, on the positive side, my EQ went up today by 6 points and is now equal to my TU

Re: Confused about SW EQ Score

Barry — Thu, 07 Jul 2011 17:29:16 GMT

@CS800 wrote:

Ok thanks for the heads up, on the positive side, my EQ went up today by 6 points and is now equal to my TU

Sounds like progress! Hang in there!

Re: Confused about SW EQ Score

Booner72 — Sat, 09 Jul 2011 02:30:34 GMT

Hi Barry - Why does it happen? (Not getting score boost from paying down util tp 1%). In your experience and what you've seen, what are the reasons?

Thanks!

Re: Confused about SW EQ Score

Barry — Fri, 14 Oct 2011 21:36:28 GMT

@Booner72 wrote:

Hi Barry - Why does it happen? (Not getting score boost from paying down util tp 1%). In your experience and what you've seen, what are the reasons?

Thanks!

Note: In the interest of confidentiality, the following discussion relies only on info already provided by OP in this thread. No "new" account or score information about this specific situation is being revealed publicly.

Here are a few thoughts....

1. The score looks at util in 2 ways: individual acct util and overall util. In this case, a single account went from about 92% to 1%, not the overall util. We don't know how much of a drop in overall util occurred. Overall util weighs more heavily than individual util.

2. Some "buckets" give you many more points for the same util than other buckets. And, as you're probably aware, all changes in util, just like all changes in AAoA, don't translate into a score change.

3. The reports cited here were from 5/21 and 6/17. We know that the Cap One balance was lower on 6/17 and higher on 5/21, but we don't know exactly when it changed on the credit report. There was an alert on 6/17 indicating a score change to 640 from 626 on a 6/4 alert, with a corresponding report pulled on 6/17 that reflected the balance reduction on Cap One. There was no report corresponding to the 6/4 increase. How do we know that the drop in util didn't contribute to the 14 point score increase between 6/4 and 6/17?

4. All or none ~~one~~ of the above.

-Barry

Re: Confused about SW EQ Score

CS800 — Tue, 04 Oct 2011 19:00:08 GMT

Hi Barry, sorry to bring up an old post but my util when i mentioned back then for EQ was my total util; not just on one card.

To this day my EQ util is 1% and my TU util shows 75%.

Apart from one credit card not reporting to EQ, everything else on the report is the same.

the FICO sim tells me if I was ot pay my TU util under 10% i could be boosted up to a max of 721 so 681 to 721 range

With those two utils, there is only 1 point difference between my TU and EQ currently. At 75% util my TU is even higher than my 1% util EQ

Re: Confused about SW EQ Score

Barry — Thu, 06 Oct 2011 00:51:33 GMT

@CS800 wrote:

Hi Barry, sorry to bring up an old post but my util when i mentioned back then for EQ was my total util; not just on one card.

To this day my EQ util is 1% and my TU util shows 75%.

Apart from one credit card not reporting to EQ, everything else on the report is the same.

the FICO sim tells me if I was ot pay my TU util under 10% i could be boosted up to a max of 721 so 681 to 721 range

With those two utils, there is only 1 point difference between my TU and EQ currently. At 75% util my TU is even higher than my 1% util EQ

Hi CS800,

What's the question? Is it why are your scores so close with such drastically different utils? If so, I would look to other items on your reports, such as any late payments reporting more recently on one report than another. As for the simulator, again what other differences are there between the reports -- keeping in mind the simulator is always going to be a very very rough estimate? But let me know what I'm missing and I'll try my best to answer.

-Barry

Re: Confused about SW EQ Score

CS800 — Fri, 14 Oct 2011 01:05:22 GMT

Barry another example today.

I got a letter from Discover and it said my EQ FICO pulled 4 days ago for the card is 691

Today I bought a SW report and my EQ FICO is 655.

Notice that what I have been saying before that my EQ should be higher that what it is on here. On here my EQ FICO has never been that high ever. So that's why again im bringing this up since I'm confused. Are there different EQ versions like TU?

The letter from discover said EQ FICO

Range 300 to 850

Re: Confused about SW EQ Score

llecs — Fri, 14 Oct 2011 13:33:57 GMT

@CS800 wrote:
Barry another example today.

I got a letter from Discover and it said my EQ FICO pulled 4 days ago for the card is 691

Today I bought a SW report and my EQ FICO is 655.

Notice that what I have been saying before that my EQ should be higher that what it is on here. On here my EQ FICO has never been that high ever. So that's why again im bringing this up since I'm confused. Are there different EQ versions like TU?

The letter from discover said EQ FICO
Range 300 to 850

I'm not Barry, but there are different versions on all 3, several for each too! Discover is using an older or newer version of the Classic EQ FICO score.

Re: Confused about SW EQ Score

CS800 — Fri, 14 Oct 2011 13:46:07 GMT

It seems like they are using the newer version of EQ since I think the difference is the one paid collection that I ahve that's under $100.

I read somewhere that the new FICO 09 (i think they call it this way) igonores collections less than $100. So that could explain the score difference from 691 to 655. The newer FICO formula has me higher by 36 points. Cant complain

Re: Confused about SW EQ Score

CS800 — Fri, 14 Oct 2011 13:46:45 GMT

So EX also has different versions? I thought EX was the only one with one version.

Re: Confused about SW EQ Score

Barry — Fri, 14 Oct 2011 20:12:43 GMT

@CS800 wrote:

So EX also has different versions? I thought EX was the only one with one version.

Hi CS800,

Oh no, that would be too simple. While the most commonly used EX is v2, there are also v3 and v8 (FICO 8) scores.

-Barry