Somebody gave a sound explanation on this board a week or two ago. The idea is that historically, the bureaus have had differing qualities of reported data, and FICO algorithms take this into account. The exact same data provided by the 3 CRA's may tell different stories because the FICO scoring model applied to each has a parameter that accounts for the possible inaccuracy of the data.
The author of the aforementioned post, please correct me if I inaccurately paraphrased your post.
...the CRAs do not provide FICO 08 scores, myFICO does that
...the CRAs do not all contain exactly the same data, report exactly the same data to myFico, nor do they report to myFico at the same time
...for example, unless you pull a new CR from TU, all myFico gets from them is your total CCs balance, not individual ones ...thus the weighting FICO 08 normally applies to both individual and total utilization must be modified somewhat between complete TU CR updates
...it appears to be the consensus here that FICO does weight the CRAs' data differently
...however, consider that the FICO score reflects only a single moment in time ...imnsho, it is very likely that how and when the CRAs data updates at the various agencies has as much of an impact, if not more, on your score variations than any CRA weighting FICO is doing
@RobertEG wrote:Fair Isaac has stated that the scoring algorithsm licensied by each CRA are different, and are tailored to their individiual needs/requests. Source please.
Fair Isaac has additionally stated that the difference in scoring between the CRA algorithms, assuming identical data is in each CRA file, can be up to 30'ísh points.
They similarly adjust their scoring algorithms based on the individual needs of other clients, such as the auto and mortgage lending markets.
Fair Isaac does not generate the scores. They do not have the data, and have no means to do so.
They license their algorithms to the CRAs, who then do the actual score production by running their consumer data through the appropriate algorithm.
Please provide a source for this statement.
...myFico is a subsidiary of Fair Isaac ,,,afaik myFico generates the FICO 08 scores provided subscribers to their products using data furnished by the CRAs ...the CRAs do not generate the FICO scores received by myFico subscribers
