Credit Mix: Equifax vs Experian

[FICOdawg]

Here's interesting datapoint.     Equifax has me at 2 inquries in last 12 months and 4 revolving accounts.     Experian has me at 4 inquires and 4 revolving accounts.     The inquiries are from buying new car last December and will show 0/12 at end of year..      Both show 7 months as age of newest account which is the car loan. 

Equifax has me listed as "Very Good" credit mix while Experian has me at "Good".      Scores are 765 EQ vs 756 EX

[Janet729Shires]

Hello!

This datapoint illustrates how Equifax and Experian interpret credit data differently: Equifax reports 2 inquiries and a "Very Good" credit mix with a 765 score, while Experian shows 4 inquiries, resulting in a "Good" mix and a 756 score. The discrepancy, LiteBlue USPS stemming from a car loan from last December, highlights how bureaus weigh factors like inquiries distinctly, though the scores are expected to converge as those inquiries age off the 12-month window. 

[Horseshoez]

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@FICOdawg wrote:

Here's interesting datapoint.     Equifax has me at 2 inquries in last 12 months and 4 revolving accounts.     Experian has me at 4 inquires and 4 revolving accounts.     The inquiries are from buying new car last December and will show 0/12 at end of year..      Both show 7 months as age of newest account which is the car loan. 

Equifax has me listed as "Very Good" credit mix while Experian has me at "Good".      Scores are 765 EQ vs 756 EX

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Assuming both scores are FICO, what you are seeing is well within the realm of what can be called "normal".

[Thomas_Thumb]

Inquiries are seperate from credit mix. 

[FICOdawg]

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@Thomas_Thumb wrote:

Inquiries are seperate from credit mix. 

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I brought this up as I've seen posts about Experian often being 10-12 points lower than EQ & TU.     Trying to narrow down what they may look at differently.     My EQ and EX have exact same revolving dollar amounts and installment loan amounts so this was direct comparison.      Somehow Experian grades me lower on something.

Lot of datapoints coming up as my utilization keeps dropping.     Seems the Experian cares more about the aggregate.

[SouthJamaica]

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@FICOdawg wrote:

Here's interesting datapoint.     Equifax has me at 2 inquries in last 12 months and 4 revolving accounts.     Experian has me at 4 inquires and 4 revolving accounts.     The inquiries are from buying new car last December and will show 0/12 at end of year..      Both show 7 months as age of newest account which is the car loan. 

Equifax has me listed as "Very Good" credit mix while Experian has me at "Good".      Scores are 765 EQ vs 756 EX

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Nothing mentioned in your first paragraph has any bearing on "credit mix".  Credit mix has to do with the types of accounts you've held, both open and closed.  So if you want to find out why one bureau has your mix at good and the other at very good, I would look carefully over both reports to see what open and closed accounts are showing.

[Thomas_Thumb]

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@FICOdawg wrote:

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@Thomas_Thumb wrote:

Inquiries are seperate from credit mix. 

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I brought this up as I've seen posts about Experian often being 10-12 points lower than EQ & TU.     Trying to narrow down what they may look at differently.  

Lot of datapoints coming up as my utilization keeps dropping.  Seems the Experian cares more about the aggregate.

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Experian cares very little about number of accounts with balances. Prior poster data and my own does suggest EX has increased emphasis on revolving Utilization relative to EQ and TU. For me, the penalty on score for a spike in UT was greatest for EX Auto Fico score 2

* The large Auto EX score 2 drop I suffered for high UT was subsequent to having no open loans on file. Your open Auto loan may mute response to changes in UT.

[FICOdawg]

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@Thomas_Thumb wrote:

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@FICOdawg wrote:

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@Thomas_Thumb wrote:

Inquiries are seperate from credit mix. 

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I brought this up as I've seen posts about Experian often being 10-12 points lower than EQ & TU.     Trying to narrow down what they may look at differently.  

Lot of datapoints coming up as my utilization keeps dropping.  Seems the Experian cares more about the aggregate.

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Experian cares very little about number of accounts with balances. Prior poster data and my own does suggest EX has increased emphasis on revolving Utilization relative to EQ and TU. For me, the penalty on score for a spike in UT was greatest for EX Auto Fico score 2

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Noted.   I'll try to update my main thread as score progression continues.      I passed the 39% Aggreegate threshold but waiting for my scores to update.     I am hoping for big jump once below 29%

[Vinjints]

It's my understanding that the thresholds are in twenty point increments (89-69-49-29-9).

[Thomas_Thumb]

Those are the standard thresholds.

Substantial 49% and 29% threshold data for highest card. Some data at 89%. Not much at 69% but it fills in the logical progression. The 9% threshold appears to be insignificant for highest card but very important for aggregate UT.

Some others reported thresholds (minimum 5 point change) with supporting data:

1) Highest card UT reporting 100% or above vs 99%. Posted by multiple sources and tested a couple times recently by SJ. As I recall, he reported a 7 point loss/gain crossing 100%. 

2) Aggregate utilization 5%. A lot of discussion on this a few years back.