@Anonymous wrote:
Because when you pay for your score through myfico, it also provides the credit report for that agency to back up that score. So when I pay for the same thing with experian, it shows my current score, and current report with all of the credit cards etc.. So I paid for the updated experian score through myfico, it shows a lower score, it's missing 3 good standing accounts, still shows stuff that is no longer on my report. So that is pretty much all the proof that myfico is selling incomplete and inaccurate information, at a high price to consumers, and at the same time not showing the lenders information that is up to date, causing you to either be denied, or accepted with a horrible interest rate.
The score you get from myFICO is the same score that a lender would pull if they were to pull the same scoring model. The reports are separate and are third-party, so will never have as much information as a report direct from the CRA. It should have all of your current accounts, but it is what it is. The score is your EX08 FICO score. The score you were getting direct from Experian, however, is not a FICO, and can not be expected to be the same, higher, lower, it might not even move in the same direction.
EX:694 TU:744 EQ:777
@Anonymous wrote:
Transunion also up to date, I don't get it.
That sounds like a bug: I would call support. The score you get from Experian is an educational one, the myFICO one is EX '08 (though fair warning, it is not accurate for mortgages).
That said, the report data *should* be darned near identical within reason (there will be more detail on the EX one than on any third party report as DaveSignal correctly points out), but it shouldn't be out of date as you intimate.
Something isn't right, and if it happened to me I'd be pretty irritated too: the data is cached somewhere, and we can't address it on the forums, call FICO customer support as I can assure you what happened to you isn't a feature.
@bdhu2001 wrote:
@Anonymous wrote:
Because when you pay for your scorethroughmyfico, it also provides the credit report for that agency to back up that score. So when I pay for the same thingwithexperian, it shows my current score, and current report with all of the credit cards etc.. So I paid for theupdatedexperian scorethroughmyfico, it shows a lower score, it's missing 3 good standing accounts, still shows stuff that is no longer on my report. So that is pretty much all the proofthatmyfico is selling incomplete and inaccurate information, at a high price to consumers, and at the same time not showing the lenders information that is up to date, causing you to either be denied, or accepted with a horrible interest rate.You can count on the information from Experian, but not on the score. Remember myFICO uses an algorithm for data and it's the information that most lenders are using. So if you had applied to a lender, your score and report would more closely resemble what myFICO has instead of what Experian provided to you.
Experian probably has an instant pass through for their information for the credit score that they sell. Where as myFICO is probably obtaining their information through a portal. I say this because I've been denied credit even after I've checked the CBAs. When I get the letter from the creditor, it shows dated information. So I guess you can say myFICO is up to date from when they receive the information through their CBA portals.
How long had you had the new accounts and when did the CBAs advise you that they had removed the information? If FICO uses a portal for information there can be a slight lag for the information to update.
Fully agree but it shouldn't be that far out of date: this is a joint product where both FICO and Experian make money off of, it shouldn't be that innacurate in my estimation as end of the day, a credit report is only as good as the accuracy of the data on it, and in this case it appears to have failed badly. Also it should be roughly the same data that a lender would see (same portal as you put it) and it should not be that badly off as a result. Somewhere it got cached from the sounds of it, and cache invalidation while a pain in the ass to do, can be problematic but has to be done accurately or things like this happen. Either on FICO or Experian's side, this got borked, and it should be fixed. I would be righteously irritated and angry if it happened to me.
I've seen reports of that before, it's not common, and not often, but it has happened, and it should be brought to FICO customer service's attention: I'd certainly ask for an updated / accurate report.