Equifax sells two different sets of products:
The first based on the proprietary / pretty much educational score already mentioned.
The second based on FICO Beacon 5.0 (EQ 04 or FICO 5 as listed in the myFICO interface) which will match the listed mortgage score here for Equifax, and the Equifax score on 99.99% of the mortgages underwritten in the United States. Scorepower is the single pull product, Scorewatch is the monitoring product.
The monitoring scores here at myFICO are FICO 8 for all 3 bureaus these days; however, when you order a report (or you get a report refresh with one of the services) you get the whole suite of scores. FICO 8 is the dominant pull in the market today (by numbers); however, it's not used by everyone and absolutely not in the mortgage space.
@Revelate wrote:Equifax sells two different sets of products:
The first based on the proprietary / pretty much educational score already mentioned.
The second based on FICO Beacon 5.0 (EQ 04 or FICO 5 as listed in the myFICO interface) which will match the listed mortgage score here for Equifax, and the Equifax score on 99.99% of the mortgages underwritten in the United States. Scorepower is the single pull product, Scorewatch is the monitoring product.
The monitoring scores here at myFICO are FICO 8 for all 3 bureaus these days; however, when you order a report (or you get a report refresh with one of the services) you get the whole suite of scores. FICO 8 is the dominant pull in the market today (by numbers); however, it's not used by everyone and absolutely not in the mortgage space.
What is the product which appears on the Equifax.com site, which is simply identified as "Equifax Credit Score"?
@Thomas_Thumb wrote:
@Revelate wrote:Equifax sells two different sets of products:
The first based on the proprietary / pretty much educational score already mentioned.
The second based on FICO Beacon 5.0 (EQ 04 or FICO 5 as listed in the myFICO interface) which will match the listed mortgage score here for Equifax, and the Equifax score on 99.99% of the mortgages underwritten in the United States. Scorepower is the single pull product, Scorewatch is the monitoring product.
The monitoring scores here at myFICO are FICO 8 for all 3 bureaus these days; however, when you order a report (or you get a report refresh with one of the services) you get the whole suite of scores. FICO 8 is the dominant pull in the market today (by numbers); however, it's not used by everyone and absolutely not in the mortgage space.
So, if someone has a desire to monitor a Fico mortgage score it can be done using Equifax scorewatch.
Revelate, based on your reporting of EQ 04 I would guess you may subscribe to Scorewatch. I purchased the Scorepower report a few times back in 2014 and early 2015 before the 3B became available. I like the EQ report summaries.
Does the Equifax proprietary score offer any clues as to behavior of FICO 5 EQ?
(Reason I ask, it just took a 15-point leap, and the only change I noticed was that the number of cards reporting a balance went from 7/21 to 6/21).
@SouthJamaica wrote:
@Thomas_Thumb wrote:
@Revelate wrote:Equifax sells two different sets of products:
The first based on the proprietary / pretty much educational score already mentioned.
The second based on FICO Beacon 5.0 (EQ 04 or FICO 5 as listed in the myFICO interface) which will match the listed mortgage score here for Equifax, and the Equifax score on 99.99% of the mortgages underwritten in the United States. Scorepower is the single pull product, Scorewatch is the monitoring product.
The monitoring scores here at myFICO are FICO 8 for all 3 bureaus these days; however, when you order a report (or you get a report refresh with one of the services) you get the whole suite of scores. FICO 8 is the dominant pull in the market today (by numbers); however, it's not used by everyone and absolutely not in the mortgage space.
So, if someone has a desire to monitor a Fico mortgage score it can be done using Equifax scorewatch.
Revelate, based on your reporting of EQ 04 I would guess you may subscribe to Scorewatch. I purchased the Scorepower report a few times back in 2014 and early 2015 before the 3B became available. I like the EQ report summaries.
Does the Equifax proprietary score offer any clues as to behavior of FICO 5 EQ?
(Reason I ask, it just took a 15-point leap, and the only change I noticed was that the number of cards reporting a balance went from 7/21 to 6/21).
Oh it's not proprietary score, it's just the older version of Scorewatch (FICO 5) that we had on the site a few years back. I would assume reason codes would be there just like they are on the 1B pulls when talking individual scores, on the monitoring side though we didn't get reason codes from Scorewatch (and don't now) only from the individual pulls so I somewhat doubt that.
That may be a nice datapoint, I know for me on FICO 8 I take a drop at 33% (and someone else's data seems to confirm it's between 30-33%, I'm betting 1/3 personally) but my FICO 5 doesn't shift until I'm much worse (pretty sure it's 1/2, I'll test that again before my tax lien comes off) but I'm on a dirty file; I think you're on a different scorecard than I am on EQ (well likely based on our understanding of them) and of course TT has always suggested EQ FICO 5 moves more for him but I suspect his FICO 8 datapoint there is skewed with his godlike score on that model.
@Anonymous sorry I missed this I never used the EQ one, but I have DCU for datapoints and I pull 1B reports maybe more than I should though this past year been focusing more on EX since my lenders care about that one, and EQ hates me anyway 