Confused....

[mwc]

My Equifax credit score on MyFico was at 697 a few days ago.  Then I got a MyFico notification that my Equifax credit score went down by 32 points to 665.  I though this was strange as the day before my Transunion credit score on MyFico increased by 85 points.  I immediately contacted Equifax and got a report showing that my credit score had increased by 36 points to 733 on the same day MyFico told me my Equifax score had gone down by 32 points.  Now there is almost a 100 point difference between my Equifax and Transunion scores on MyFico.  How can there be a difference of almost 70 points for Equifax on My Fico and from the Equifax credit bureau directly? I am wondering if MyFico does not report the correct score.  I am concerned as I need to get a new car lease within the coming two weeks.  I wrote MyFico and have not had a reply.  Has anyone had this experience in the past?  

[Appleman]

Welcome to myFICO! Sorry about your concerns, but there are many reasons that a report could be having wild swings. I am sure others will want additional information so I will start with some questions that will help clarify things. Only answer questions you feel comfortable answering.

Where are you finding your scores? Various sites like Credit Karma use a Vantage score that will differ from FICO scores. 

Do you have any what we call 'baddies' on your account (lates, BK etc)? Many do but they often will affect your score.

What percentage of utilization do you have reporting on your cards? For instance have a balance of $500 report on a $1000 credit limit would be 50% utilization.

Credit card companies love to give credit but the scoring models punish your score for using a lot of available credit.

Good luck, and swings can happen and they can be big. Hoefully with more info we can help narrow it down a bit for you.

[mwc]

Thank you for your reply.  I am aware of the Vantage score and I do not look at Credit Karma.  In this case, I am only comparing the main Equifax credit score on MyFico and the FICO score which I received directly from the Equifax credit bureau on the same day, which are about 70 points apart.  Maybe my best move would be to contact the car dealership finance department to see which score they use for leases.  I think I should be ok as lenders probably go directly to each credit bureau for the credit score and not to MyFico.  I just wondered about the discrepancy.  Thank you again for the information.  

[Appleman]

There are many versions of FICO score. If you pony up for the 3 Bureau pull here at myFICO it will give you around 9 versions (FICO8, mortgage, auto credit card versions etc). 

Most (all) here recommend that you have your financing arranged prior to car shopping. Avoids a few games with the dealer and can help in preventing them from shot-gunning your credit report from each lender.

[Anonymous]

Is this the EQ score you purchased?

http://www.equifax.com/equifax-credit-score/

If so, it isn't a Fico score.

[JLK93]

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@Anonymous wrote:

Is this the EQ score you purchased?

http://www.equifax.com/equifax-credit-score/

If so, it isn't a Fico score.

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Like CAPTOOL said, you may not have gotten a FICO score from Equifax. Even if you did buy a FICO score from Equifax, it was probably Beacon 5. That is the Equifax version of the 04 FICO score. It is an older FICO score. The score on MyFico is FICO 08. It is a newer version of the FICO score.

[mwc]

Thank you, everyone!  That is very helpful!  Yes, that is the Equifax score I got and I thought it was a FICO score.  I will call Equifax today to find out why my Equifax credit score on Myfico is almost 100 points lower than my Transunion credit score on MyFico.  I have the 3 bureau plan with monitoring on MyFico.  

[RonM21]

I just read a somewhere about how Fico04 was tougher than the Fico8

[Revelate]

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@RM21 wrote:
I just read a somewhere about how Fico04 was tougher than the Fico8

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Varies by individual, but in general we've noticed that FICO 8 is more forgiving on old negatives.  

EQ Beacon 5.0 (FICO 04 model from Equifax) hates me, it's consistently 30 points below the other bureaus, including TU that has a 30 day late from October.  I just can't crack call it 701 on that score, was so excited to go all mortgage when I got it to 700 once upon a time and then found out it was my lowest score by a lot, meh.  

Equifax hates me, so I hate them back... doesn't do me much good but it does make me feel a little bit better .

Actually EX 04 hates me too lately, good thing mortgages are written on EX 98 which was a 723 I guess.