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Report variance

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Anonymous
Not applicable

Report variance

So I signed up for the myfico credit thing last night to get my 3 reports and see where my scores where right now. I am mailing my final payment for my chapter 13 today when I get off work. My current scores with fico 8 are equifax 552, tu 511, and experian 649. Is there a reason for such a huge variance that anyone knows about? Does transunion not take into account authorized user accounts or not update while a chapter 13 is ongoing? I’m pretty confused as why there is a 140 point difference when both actual reports look the same. Any insight would be appreciated.
Message 1 of 8
7 REPLIES 7
Adkins
Legendary Contributor

Re: Report variance

Did you carefully compare each credit report to one another? Look at what each account is showing on each report?  See my current scores in my siggy? My Equifax sucks because an account hasn't been updated since March and the account has a 35% utilization rate because of this (account actualky has a zero balance). My TransUnion report is completely missing the same account, but it's still as high as Experian, which has 100% correct information. There is a little bit of variance because each CRA has their own internal rules they go by. And TransUnion seems to be the slowest to update, FYI. 


Last HP 08-07-2023



Message 2 of 8
Anonymous
Not applicable

Re: Report variance

Thank you for the response. I have gone through them all and they all look very similar. I will go through with a fine tooth comb and see what is different.
Message 3 of 8
Adkins
Legendary Contributor

Re: Report variance


@Anonymous wrote:
Thank you for the response. I have gone through them all and they all look very similar. I will go through with a fine tooth comb and see what is different.

Let us know what you find. Any differences - reporting dates, amounts, and hard credit pulls, etc. And missing accounts. There could be something in the CRA scoring model that's giving you more points but duch that's a huge difference though...


Last HP 08-07-2023



Message 4 of 8
Anonymous
Not applicable

Re: Report variance

Looks like all the same line items are on the reports. Transunion has my student loans listed under negative accounts, equifax has them listed under closed and then again under negative, and equifax just has them listed. There aren’t any hard pulls since I’ve been in chapter 13 he past 5 years.
Message 5 of 8
Adkins
Legendary Contributor

Re: Report variance


@Anonymous wrote:
Looks like all the same line items are on the reports. Transunion has my student loans listed under negative accounts, equifax has them listed under closed and then again under negative, and equifax just has them listed. There aren’t any hard pulls since I’ve been in chapter 13 he past 5 years.

That's what it is then. That's the biggest points difference I've seen so far. 


Last HP 08-07-2023



Message 6 of 8
RobertEG
Legendary Contributor

Re: Report variance

Do you have any delinquent accounts or collections that have recently reported updated monthly reporting?

Even if the update does not reflect a change if account information, it can impact scoring by effectively extending the period of delinquency on the unpaid debt......

Message 7 of 8
Anonymous
Not applicable

Re: Report variance

I have nothing under collections but for some reason they are reporting late payments last month to transunion and equifax even though the chapter 13 trustee pays them monthly. Guess I have to figure out how to get the late report off
Message 8 of 8
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