Don't Agree with some scoring!!!!!!

[Anonymous]

Yes the loan was from one main financial. As for the error in the score I don't think it was an error . The 103 increase from equafax was due to the last two collections being removed and thus giving me a squeaky clean equafax report where as TU I have 3 collections and Experian 2 collections. All medical except for a old 2011 utility bill. So for those reasons alone I think is why such a wide gap in scores from equafax and the other 2

[Anonymous]

I just checked. The loan is showing as installment loan

[Thomas_Thumb]

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@Anonymous wrote:
Yes the loan was from one main financial. As for the error in the score I don't think it was an error . The 103 increase from equafax was due to the last two collections being removed and thus giving me a squeaky clean equafax report where as TU I have 3 collections and Experian 2 collections. All medical except for a old 2011 utility bill. So for those reasons alone I think is why such a wide gap in scores from equafax and the other 2

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I think you found the root cause.

Collections are known to hold down score by 100 points. Typically you don't see the big boost until the last one is off your CRA respective CRA file.

[Anonymous]

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@Anonymous wrote:
Yes the loan was from one main financial. As for the error in the score I don't think it was an error . The 103 increase from equafax was due to the last two collections being removed and thus giving me a squeaky clean equafax report where as TU I have 3 collections and Experian 2 collections. All medical except for a old 2011 utility bill. So for those reasons alone I think is why such a wide gap in scores from equafax and the other 2

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Wait a minute... so you're clean on one bureau and dirty on the other 2?  That's the reason for the scoring difference.  End of story.  It has nothing to do with utilization, your new loan, etc.  Being clean verses being dirty is going to constitute at least a 30-50 point variance, quite often a 50-80 point variance and at times 80-100+ points.  All of this of course depends on the personal profile being considered and evaluated with the FICO algorithm.

I'm clean on EQ currently but still dirty on TU and EX and my EQ score is 77 and 90 points higher than my TU and EX scores, respectively.