@taxi818 wrote:I recently requested a CLI on my venture card and cap one's answer was that my Credit score is too low. They said based on information from Equifax this is my score. 658.
I know for sure my fico score on EQ is 705 but when i went to look at the Different versions. Clearly showing my EQ 5 is 658
How can there be a 50 point Different in this score? The reason i ask. When my Fico 8 Eq score was 655. My Eq 5 score was Still 658.
So my point is that my Fico 8 score can climb like 50 points when last negative is removed yet at the same time my EQ 5 score stays the same no matter what/? Something strange indeed.And im suspecting Something does not smell right with this fico thing. Any one with advice or info on this im open to understanding something new.
Honestly you'd have to post pretty much your credit file for us to point at reasons but FICO 8 and FICO 04 (Beacon 5.0) do calculate things differently. What was the negative?
Cap 1 might be using the older model, I've read that they've been using a whole bunch of different algorithms but 04 has been mentioned as has Vantage for Venture approvals anyway. I at least appreciate the UW datapoint!
Honestly there's a bunch of tinfoil hat commentary which has gone on over the years here, it's never panned out. FICO isn't capricious, and my Beacon 5.0 which should be 693 with the most recent inquiry from Penfed, is likewise 31ish points lower than my Beacon 9.0 (FICO 8 EQ).
What is depressing your score as you've been on the forum for a year and I think in your case had tradelines before that; you should be higher than 705 if clean file.
@Revelate wrote:
@taxi818 wrote:I recently requested a CLI on my venture card and cap one's answer was that my Credit score is too low. They said based on information from Equifax this is my score. 658.
I know for sure my fico score on EQ is 705 but when i went to look at the Different versions. Clearly showing my EQ 5 is 658
How can there be a 50 point Different in this score? The reason i ask. When my Fico 8 Eq score was 655. My Eq 5 score was Still 658.
So my point is that my Fico 8 score can climb like 50 points when last negative is removed yet at the same time my EQ 5 score stays the same no matter what/? Something strange indeed.And im suspecting Something does not smell right with this fico thing. Any one with advice or info on this im open to understanding something new.
Honestly you'd have to post pretty much your credit file for us to point at reasons but FICO 8 and FICO 04 (Beacon 5.0) do calculate things differently. What was the negative?
Cap 1 might be using the older model, I've read that they've been using a whole bunch of different algorithms but 04 has been mentioned as has Vantage for Venture approvals anyway. I at least appreciate the UW datapoint!
Honestly there's a bunch of tinfoil hat commentary which has gone on over the years here, it's never panned out. FICO isn't capricious, and my Beacon 5.0 which should be 693 with the most recent inquiry from Penfed, is likewise 31ish points lower than my Beacon 9.0 (FICO 8 EQ).
What is depressing your score as you've been on the forum for a year and I think in your case had tradelines before that; you should be higher than 705 if clean file.
Nothing is depressing it at the moment. I've only started 21 months ago. Had a collection 5 years old. Paid. Came off end may. Scores were as follows with collection.
Eq 655. Tu. 680. Ex. 670.
After collection went away.
Eq 705. Tu 730 ex 704.
My my oldest account 21 months. AAOA 11 months. Sothat might be depressing them. I'm getting 0 points fron credit age. Supposedly that will change when my oldest is 2 years old. According to fico simulation. In 6 months. All over 740. As long as I maintain. But anyway. Eq 5.0 was 658 even when my fico 8 was 655. It's the same. Even now that it's 705.
Chart below.
How many inquiries on EQ in the last year?
I do know at least for my 2->3 inquiries Beacon 5.0 hits me for 7 points, and my FICO 8 doesn't seem to move. Step function could well be different by a wide margin when that's your #2 reason code. Likewise you've got 16 credit cards, between tradeline age and AAOA that may explain some difference as frankly we've had people establish 3 accounts and been higher than you on FICO 8 at the one year mark.
Tack on an installment line if you haven't already and play the installment utilization game on FICO 8, and take the mix of credit win on Beacon 5.
Clean up your revolving utilization too before your next check of Beacon 5 as I'm guessing based on those reason codes your file wasn't optimized?
Beyond that not really sure what to say, fact is that score has matched every mortgage lender's pull so /shrug. What were the reason codes before the collection came off if you have them, did it make mention of it?
@Revelate wrote:How many inquiries on EQ in the last year?
I do know at least for my 2->3 inquiries Beacon 5.0 hits me for 7 points, and my FICO 8 doesn't seem to move. Step function could well be different by a wide margin when that's your #2 reason code. Likewise you've got 16 credit cards, between tradeline age and AAOA that may explain some difference as frankly we've had people establish 3 accounts and been higher than you on FICO 8 at the one year mark.
Tack on an installment line if you haven't already and play the installment utilization game on FICO 8, and take the mix of credit win on Beacon 5.
Clean up your revolving utilization too before your next check of Beacon 5 as I'm guessing based on those reason codes your file wasn't optimized?
Beyond that not really sure what to say, fact is that score has matched every mortgage lender's pull so /shrug. What were the reason codes before the collection came off if you have them, did it make mention of it?
In the last 12 months 5 inquiries on EQ. What is strange is that this is the same Beacon score i had when my fico 8 was at 655, no change. from the Eq 5. which makes no sense.
The other scores changed when my fico score changed. That being EX and Tu. so the older models also changed. just not Eq. I do have installment loan and playing that game as well. Keep in mind. my report is very young and yes. lots of tradelines which as i stated. Im getting -0 points from credit age. which is 15 percent of the fico score. i do know in a year when things hit close to 3 years old my scores will thrive. but it still does not explain why the Fico 5 score from Eq is unchanging no matter what happens to my report.Note other models with transunion how the older versions of score also changed. just not with EQ.
In my reasons Letter for Venture, the score they showed me was 712 EX on a scale of 325 to 850, when my FICO 8 here is 765 EX at the day of INQ.
The only thing negative in my file is utilization and 4 INQ in the last year, 6 INQ in the last two years on EX.
@NRB525 wrote:In my reasons Letter for Venture, the score they showed me was 712 EX on a scale of 325 to 850, when my FICO 8 here is 765 EX at the day of INQ.
The only thing negative in my file is utilization and 4 INQ in the last year, 6 INQ in the last two years on EX.
That'd be EX Risk Model v3 = EX 04 with that score range.