60 point spread between Experian and Equifax

[lequestion]

My Equifax is showing a score of 640 down 12 points from last report.

My Experian is showing a score of 700 up 18 points from last report.

I called myFICO in order to see if they can tell me what in the world is going on.

The difference between this month and last month was that I called CapitalOne to fix a charge off account that was incorrectly reporting a balance.

CapitalOne actually removed the entire account from all 3 of my reports.

The myFICO representative is suggesting that because CapitalOne removed my account that is why my Equifax took a hit.

First of all its a CHARGE-OFF account one of the worst things you can have on a credit report. You're telling me that a removal of a charge-off (thus decreasing account age) will cause my Equifax to go down 12 points? And if that is the case why is my Experian up 18 points. It makes absolutely no sense can somebody explain this?

Comparing all 3 reports there is 0 difference between any of them.

[Anonymous]

It's impossible to have a 60 point variance between two scores using the same scoring model, same bureau data but different bureaus.  There has got to be a difference between your report data.  The only way you'll be able to find it is to go through each account line by line and compare everything.  Scores are only drawn upon report data, so if there's a 60 point variance there's a variance between the data without question.

As for the removal of a CO increasing lowering a Fico score, while not probable is certainly possible.  If it was your only negative item, chances of it lowering your score from removal is slim.  However, if you have other equally dirty items on your CR, the removal of a single negative item like a CO may result in no score gain at all.  If it were then to adversely impact your age of accounts, there could end up being a loss.

MF reps aren't going to be able to explain your score gains or losses.  All they can look at is your credit report data, basically the same thing you or anyone else can do.  The members of this forum if provided with your report data can better explain anything than a MF rep, IMO.

[Anonymous]

Yeah +/-30 points is the established margin of difference with identical data among bureaus. Something is different.

[Anonymous]

Have you pulled your ACR reports to compare?

[AndySoCal]

Is this a credit card account ?  Who was reporting the balance?

[SouthJamaica]

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@Anonymous wrote:

It's impossible to have a 60 point variance between two scores using the same scoring model, same bureau data but different bureaus.  There has got to be a difference between your report data.  The only way you'll be able to find it is to go through each account line by line and compare everything.  Scores are only drawn upon report data, so if there's a 60 point variance there's a variance between the data without question.

As for the removal of a CO increasing lowering a Fico score, while not probable is certainly possible.  If it was your only negative item, chances of it lowering your score from removal is slim.  However, if you have other equally dirty items on your CR, the removal of a single negative item like a CO may result in no score gain at all.  If it were then to adversely impact your age of accounts, there could end up being a loss.

MF reps aren't going to be able to explain your score gains or losses.  All they can look at is your credit report data, basically the same thing you or anyone else can do.  The members of this forum if provided with your report data can better explain anything than a MF rep, IMO.

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My EQ mortgage score is around 50 points lower than my EX and TU mortgage scores.  Yeah there are some minor differences in the data, but it appears that the biggest difference is in the algorithms being employed.

[Anonymous]

I think OP is talking about version 8, not mortgage Scores. As far as mortgage Scores, we would definitely expect a difference for the Experian, being a different model.

[refereeguy1390]

I have 13 student loan TLs that I have 9 late payments on before being sent to collections. On EQ and TU they still show them as closed with no balance. They also have the new 13 TLs for the collection accounts. 

On EX, they only have the defaulted loans and not the closed ones from original servicer. This was the source of the 40 pt difference that it took me a couple of hours to figure out.  So there probably is a difference somewhere causing the 60 point swing. 

[Anonymous]

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@refereeguy1390 wrote:

I have 13 student loan TLs that I have 9 late payments on before being sent to collections. On EQ and TU they still show them as closed with no balance. They also have the new 13 TLs for the collection accounts. 

On EX, they only have the defaulted loans and not the closed ones from original servicer. This was the source of the 40 pt difference that it took me a couple of hours to figure out.  So there probably is a difference somewhere causing the 60 point swing. 

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With a 60 point spread on the same version, there is a difference, likely something similar to yours.