@Anonymous wrote:
First off, my FICO scores are over 700. Credit tracker says I have a score of 639.
You cannot use a score generated by one model to determine the score generated by a different model -- even if both models are FICO's. Models (including the various FICO's -- see also the Understanding FICO Scoring subforum and its stickies) vary in how their algorithms weigh the different factors. Further, not all models are on the same scoring scales. You always need to consider both the specific scoring model and the CRA.
CO's Credit Tracker uses the TransUnion New Account model which is not used by creditors. Capital One's site has this information.
http://www.capitalone.com/credit-cards/benefits/credit-tracker/
Your Credit Tracker score is calculated based on the TransUnion New Account Model.
This informational/educational score is not used for credit or lending decisions.
Always consider the relevance of a given score. If it's not used for credit or lending decisions then the score doesn't really have any relevance. You can try to use the trending (I advise being careful even with this as different models can trend differently) of the score as a rough guide of the shape of your credit but, again, you cannot use it to determine your score with any other scoring model.
@Anonymous wrote:
Eliminating balances, lowering balances, maintaining payments for 24 months, or having a tax lien will keep my score the same. But the best part is that a foreclosure will raise my score 16 points. Child support and wage garnishment will raise it 6.
Most simulators tend to be unreliable. Further, no one simulator can simulate every model out there. Instead of fixating on the numbers. learn about the standard scoring and risk factors and use the knowledge to assess your own reports. Any score is generated based on the data in a report. Good reports will lead to good scores.
@fedxboy wrote:
I don't know why CapOne's credit tracker is way off for you both as I just checked mine and it has me at
Which is relatively where all my other FICOS are.....
As with any topic, coincidental and causal are two entirely different things. Different scoring models can coincidentally produce similar or even the same numbers for specific situations but that does not mean that there is a causal relationship between the two.
Again, if you want to know what your score is with specific model and CRA then pull it. Don't even assume that all FICO's are the same. Otherwise, you're likely to end up disapppointed when you're referring to a different model than what a creditor pulls for you and there's a discrepancy in the numbers.
