FICO 8 vs FICO 9

[Anonymous]

My FICO 8 scores are pretty similar across all three CRAs. However there is a 90 point difference between my FICO 9 Transunion/Experian score compared to my Equifax score, the latter being the higher score.

I have 100% payment history, 10% utilization across 10 or so account, two revolving accounts. My AAOA is low - two years. I do have four medical accounts in collections, two which are paid.

What could be the reason for this?

[Anonymous]

Can you describe all the collections in EQ vs. the collections in TU/EX?  Specifically, for each one....

Medical or non-medical?

Paid or nonpaid?

Original amount of collection > $100?

Some possibilities:

The collections in EQ are all listed as paid (with 1 or more not so listed in TU/EX)

The collections in EQ are all listed as medical (with 1 or more not so listed in TU/EX)

Either of those scenarios might well result in a big difference between bureaus.

[Anonymous]

I'm reviewing my CR on CK and noticed that EQ has the collections listed as medical where as TU does not. All four are listed on the EQ report but all as medical. 2/4 listed on TU, one unpaid and one closed account but it doesn't appear to specify medical.

My EX report list all four and I can't find anywhere to indicate they are medical collections.

How do I remedy this? I am able to pay for these collections but held off because I was told it would do more harm to pay them.

[Anonymous]

The two unpaid medical collections are for $400 and >$100.

[Thomas_Thumb]

---

@Anonymous wrote:
I'm reviewing my CR on CK and noticed that EQ has the collections listed as medical where as TU does not. All four are listed on the EQ report but all as medical. 2/4 listed on TU, one unpaid and one closed account but it doesn't appear to specify medical.

My EX report list all four and I can't find anywhere to indicate they are medical collections.

How do I remedy this? I am able to pay for these collections but held off because I was told it would do more harm to pay them.

---

Paid off collections are ignored in Fico 9. Therefore any existing score penality associated with collections will cease once all collections are paid off regardless of collection amount. Unfortunately, Fico 8 does not ignore paid collections but it does ignore all collections under $100 (whether paid or unpaid) and as CGID mentioned above, Fico 9 scores collections coded as medical differently from non medical

[credit_endurance]

---

@Thomas_Thumb wrote:

---

@Anonymous wrote:
I'm reviewing my CR on CK and noticed that EQ has the collections listed as medical where as TU does not. All four are listed on the EQ report but all as medical. 2/4 listed on TU, one unpaid and one closed account but it doesn't appear to specify medical.

My EX report list all four and I can't find anywhere to indicate they are medical collections.

How do I remedy this? I am able to pay for these collections but held off because I was told it would do more harm to pay them.

---

Paid off collections are ignored in Fico 9. Therefore any existing score penality associated with collections will cease once all collections are paid off regardless of collection amount. Unfortunately, Fico 8 does not ignore paid collections but it does ignore all collections under $100 (whether paid or unpaid) and as CGID mentioned above, Fico 8 scores collections coded as medical differently from non medical

---

What about paid student loans but showing several lates? does this same formula apply to those as well?

[Anonymous]

---

@credit_endurance wrote:

---

---

What about paid student loans but showing several lates? does this same formula apply to those as well?

---

Hi BC!  By "this same formula" are you asking whether FICO 9 will ignore the lates associated with paid student loans?  The answer is no, it will not.  Paying off a collection only causes the collection to be ignored in FICO 9.  Other derogs that might be tangentially related to it (charge-offs, lates, etc.) are not ignored.

Good to hear that my initial guess was right, and that the EQ report had collections listed as medical (or paid) and the other bureaus did not.  As TT mentions that causes FICO 9 to give you a higher score, since it eliminates all penalty for paid collections and softens a great deal the penalty for unpaid medical collections.

Our OP wants advice at this point on how to get his EX and TU accounts to report properly (i.e. properly being tagged as medical debt).  My guess is that the dispute process is the thing at this point, since the account is not being rendered fully accurately, but you may want to get nore input from other people more experienced with derogs. 

[Revelate]

---

@Thomas_Thumb wrote:

---

@Anonymous wrote:
I'm reviewing my CR on CK and noticed that EQ has the collections listed as medical where as TU does not. All four are listed on the EQ report but all as medical. 2/4 listed on TU, one unpaid and one closed account but it doesn't appear to specify medical.

My EX report list all four and I can't find anywhere to indicate they are medical collections.

How do I remedy this? I am able to pay for these collections but held off because I was told it would do more harm to pay them.

---

Paid off collections are ignored in Fico 9. Therefore any existing score penality associated with collections will cease once all collections are paid off regardless of collection amount. Unfortunately, Fico 8 does not ignore paid collections but it does ignore all collections under $100 (whether paid or unpaid) and as CGID mentioned above, Fico 8 scores collections coded as medical differently from non medical

---

Did you mean FICO 9 here senor?

[Thomas_Thumb]

---

@Revelate wrote:

---

@Thomas_Thumb wrote:

---

@Anonymous wrote:
I'm reviewing my CR on CK and noticed that EQ has the collections listed as medical where as TU does not. All four are listed on the EQ report but all as medical. 2/4 listed on TU, one unpaid and one closed account but it doesn't appear to specify medical.

My EX report list all four and I can't find anywhere to indicate they are medical collections.

How do I remedy this? I am able to pay for these collections but held off because I was told it would do more harm to pay them.

---

Paid off collections are ignored in Fico 9. Therefore any existing score penality associated with collections will cease once all collections are paid off regardless of collection amount. Unfortunately, Fico 8 does not ignore paid collections but it does ignore all collections under $100 (whether paid or unpaid) and as CGID mentioned above, Fico 8 scores collections coded as medical differently from non medical

---

Did you mean FICO 9 here senor?

---

Yes - I will edit above post to correct