Bureau Scores vs MyFico vs Vantage

[jmonye21]

Hello all,

I use the Experian (free) app, Chase & Credit Karma in addition to MyFico. Anyone else experience your Fico 8 score being different on Experian as opposed to MyFico? They should be the same. 

MyFico reported that TU went down 3 points because an old auto loan (closed) from 2014 was removed. I have no idea why it was removed this week. 

Also, my TU Vantage score dropped 32 points. The update stated that some balances on accounts decreased. That makes no sense to me. 

[FlaDude]

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@jmonye21 wrote:

Hello all,

I use the Experian (free) app, Chase & Credit Karma in addition to MyFico. Anyone else experience your Fico 8 score being different on Experian as opposed to MyFico? They should be the same. 

MyFico reported that TU went down 3 points because an old auto loan (closed) from 2014 was removed. I have no idea why it was removed this week. 

Also, my TU Vantage score dropped 32 points. The update stated that some balances on accounts decreased. That makes no sense to me. 

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How different are the My FICO vs. Experian scores? Mine are usually within a few points because they don't get updated on the same day. CK updates daily or weekly depending the CB, the FICO scores generally less often, possibly only monthly.

Closed accounts typically drop off your report at 10 years, so the 2014 auto loan disappearing seems normal. Of course, that will drop your average account age, and possibly oldest account age if that was in fact your oldest account.

Hard to say about Vantage 3.0, since it is not widely used by credit grantors, there has not been as much work done by people here to understand it. I do know that closed accounts don't factor into average age so the auto loan dropping off should not cause a score drop on VS 3.0 like it could on FICO.

[pizzadude]

Moving to Understanding FICO Scoring

[SouthJamaica]

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@jmonye21 wrote:

Hello all,

I use the Experian (free) app, Chase & Credit Karma in addition to MyFico. Anyone else experience your Fico 8 score being different on Experian as opposed to MyFico? They should be the same. 

MyFico reported that TU went down 3 points because an old auto loan (closed) from 2014 was removed. I have no idea why it was removed this week. 

Also, my TU Vantage score dropped 32 points. The update stated that some balances on accounts decreased. That makes no sense to me. 

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Your EX FICO 8 score on MyFICO and on experian.com is the same. It's just that experian.com is a little bit earlier.

You state that "MyFico reported that TU went down 3 points because an old auto loan (closed) from 2014 was removed". That's incorrect. MyFICO doesn't say that a score change was "because of" something else.

MyFICO alerts don't provide reasons for a score change. There are certain events which trigger MyFICO alerts. If there happens to be any difference between your present score at that particular bureau and the previous score reported to you from that bureau, the score change is tacked on to the alert. There is not necessarily any connection at all between the score change and the alert substance.

MyFICO explains this as follows:


Why did my score go up when I got an alert for something negative (or why did my score go down when I got an alert for something positive)?

The short answer: Your FICO® Score may change because of other events not monitored by an alert.

Whenever we send you a credit alert, we also send an updated FICO Score. To ensure you get the most current score, we calculate it based on your entire credit report at that point in time—not just the new information on the alert. This means your new score may reflect other changes that are outside of the things we watch for (see everything we monitor).

Sometimes you may see your score increase when you think it should’ve decreased, and vice-versa, but you’ll always have your most up-to-date and accurate score.
https://support.myfico.com/hc/en-us/articles/360038084633

[GreatLife]

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@jmonye21 wrote:

Also, my TU Vantage score dropped 32 points. The update stated that some balances on accounts decreased. That makes no sense to me. 

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I've been experiencing large decreases in Vantage scores as my account balances become significantly lower. However, Fico scores increased with those utilization changes.

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[FlaDude]

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@GreatLife wrote:

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@jmonye21 wrote:

Also, my TU Vantage score dropped 32 points. The update stated that some balances on accounts decreased. That makes no sense to me. 

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I've been experiencing large decreases in Vantage scores as my account balances become significantly lower. However, Fico scores increased with those utilization changes.

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Great! The scores that matter are going up.

[jmonye21]

Thanks! I checked again today and EX and MyFico are the same. 

[jmonye21]

Makes sense. Thanks for that.