I don't notice anything. My EQ score has fluctuated a little, but been basically the same since December.
EX:694 TU:744 EQ:777
@AzaleaB wrote:This is somewhat confusing. It appears that the change was fairly recent and it would be nice to know what scoring model is used being for EQ on MyFico - especially since we are paying customers. Is it now Beacon 9.0? I was online last night trying to find the difference between Beacon 5.0 and Beacon 9.0 and couldn't find any clear explanations. I did find info on the difference between the TU98 classic that I've been buying on MyFico and the free TU08 Fico that I get from Discover and Barclays - when they get around to updating it.
There will be an official announcement forthcoming.
Short answer anecdotally from people's experiences, Beacon 5.0 weights older negatives more harsly than 9.0; also 9.0 has the anti-AU / <$100 collection exclusion in it.
For mixed files with solid recent positive history over the last year or two, Beacon 9.0 will likely be higher; for people with recent negatives, the scores will be close to equivalent. For those with clean sheets it's probably the same though 9.0 has a slightly higher real max.
Beyond that hard to say from what I've read and experienced personally. I suspect my own Beacon 9 will be pretty much in line with the Wally TU I receive, or when I occasionally look at the EX score here.
Interesting. Mine hasn't changed, but good to know what the differences between the models are.
@Lechte wrote:
@Revelate wrote:
@AzaleaB wrote:This is somewhat confusing. It appears that the change was fairly recent and it would be nice to know what scoring model is used being for EQ on MyFico - especially since we are paying customers. Is it now Beacon 9.0? I was online last night trying to find the difference between Beacon 5.0 and Beacon 9.0 and couldn't find any clear explanations. I did find info on the difference between the TU98 classic that I've been buying on MyFico and the free TU08 Fico that I get from Discover and Barclays - when they get around to updating it.
There will be an official announcement forthcoming.
Short answer anecdotally from people's experiences, Beacon 5.0 weights older negatives more harsly than 9.0; also 9.0 has the anti-AU / <$100 collection exclusion in it.
For mixed files with solid recent positive history over the last year or two, Beacon 9.0 will likely be higher; for people with recent negatives, the scores will be close to equivalent. For those with clean sheets it's probably the same though 9.0 has a slightly higher real max.
Beyond that hard to say from what I've read and experienced personally. I suspect my own Beacon 9 will be pretty much in line with the Wally TU I receive, or when I occasionally look at the EX score here.
Will the official announcement be viewable on myfico.com? As well...beacon 9.0 doesn't factor in AU? I thought 08 models still recognized AU's...or is beacon 9.0 the exception?
I understand they are diff CB's, but my EX08 score is 652...my EQ from here is 680. I have one less negative on EX and 1 more inquiry on EX. ...Everything else is the same. One would think that, if they both were 08 models...my EX wouldn't be that much lower or even lower than EQ at all considering my EX has a cleaner report.
The announcement should be, not certain why it wouldn't. Am a little disappointed as a member of the forums that it hasn't been made already but such is life and I don't run the show.
The FICO '08 models at first discounted AU's altogether, but have since put AU's back in with some "anti-abuse" protection which ain't nobody talking about in terms of what details that might be. Might match last name, might match address, or might just be smoke and mirrors marketing but I find that unlikely. It's still in the official product descriptions from the CRA's when I checked a year or so ago.
I honestly don't know on some of the details as to how the CRA's score (and FWIW I don't care too much, pretty report = pretty score typically); in my case my EX scores from comparitive model years ('98 / '04) were always higher than my EQ Beacon 5.0 and it was always a dirtier report (more inquiries, additional tax lien). Actually my EQ Beacon 5.0 has been my lowest score of anything I've ever pulled personally or had pulled by a lender with the lone exception of a EX auto-enhanced score when I was near no-file w/derog status... which is unfortunate as I only care about my mortgage scores (and to a much lesser extent, auto-enhanced scores) personally.
I hope I'm not being redundant by posting this...but I just got hit with the effects of the EQ FICO08 change. I was testing out whether a card showing over 70% UTL would affect my EQ score and, at first, it didn't. But all of a sudden....wham! I got an alert that my score had dropped 27 points. I am thinking that is why. Obviously I am going to pay that down (
) but now I know for sure. Test accomplished. P.S. Below is some info I pulled from here and the yellow highlight pertains to my situation (i'm guessing)
