Scoring algorithms complexity = insanity

[ibebarrett]

I know it's been said over and over again, but it blows my mind how the smallest details on credit reports can cause such drastic scoring differences between bureaus. My EQ consistently sits around 40-50 points lower than TU and EX on FICO 8 despite no major differences(accounts/age/etc). I've cleaned my report up to where my only negs are SL lates, and TU and EX have seen gains the whole way, but nothing from EQ. Interestingly enough, my EQ consistently sits 10-15 points higher than TU and EX on every other scoring model provided by MF. I have scoured through my reports and can't find a single difference other than the way the SL lates are coded, but the weird thing there is EQ shows 120+ days late where as EX shows 180+ days late. What gives FICO?!?

[FireMedic1]

Each CRA has their own internal way to report FICO scores. Some are tougher on some areas than the others. Some are lighter than the others. If all three were identical. Why have 3 CRA's with matching score? The difference between 120 or 180 lates is really no difference. Major lates that will ding for the entire 7yrs.180 day lates is a sure way to the next step called chage off. Main thing is. They wont now or ever match completly. We'd all have in our siggy's. EQ, EX, TU is 750 (just an example)

[Anonymous]

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@ibebarrett wrote:

I know it's been said over and over again, but it blows my mind how the smallest details on credit reports can cause such drastic scoring differences between bureaus. My EQ consistently sits around 40-50 points lower than TU and EX on FICO 8 despite no major differences(accounts/age/etc).

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Your sig says your FICO 8 EQ is 10 points higher than EX.

[Anonymous]

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@FireMedic1 wrote:

Each CRA has their own internal way to report to FICO. Some are tougher on some areas than the others. Some are lighter than the others. If all three were identical. Why have 3 CRA's with matching score? The difference between 120 or 180 lates is really no difference. Major lates that will ding for the entire 7yrs.180 day lates is a sure way to the next step called chage off. Main thing is. They wont now or ever match completly. We'd all have in our siggy's. EQ, EX, TU is 750 (just an example)

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Just to clarify, the credit bureaus/credit reporting agencies do not report to FICO.  Rather, the credit bureaus license the scoring algorithms from Fair Issac Corporation (the creator of FICO scores), and as a part of the licensing process the bureaus can request customization of the algorithms to meet their specific needs.

[FireMedic1]

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@Anonymous wrote:

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@FireMedic1 wrote:

Each CRA has their own internal way to report to FICO. Some are tougher on some areas than the others. Some are lighter than the others. If all three were identical. Why have 3 CRA's with matching score? The difference between 120 or 180 lates is really no difference. Major lates that will ding for the entire 7yrs.180 day lates is a sure way to the next step called chage off. Main thing is. They wont now or ever match completly. We'd all have in our siggy's. EQ, EX, TU is 750 (just an example)

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Just to clarify, the credit bureaus/credit reporting agencies do not report to FICO.  Rather, the credit bureaus license the scoring algorithms from Fair Issac Corporation (the creator of FICO scores), and as a part of the licensing process the bureaus can request customization of the algorithms to meet their specific needs.

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I worded it wrong by 2 words. Plus it was 3am and couldnt sleep.

[Anonymous]

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@Anonymous wrote:

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@FireMedic1 wrote:

Each CRA has their own internal way to report to FICO. Some are tougher on some areas than the others. Some are lighter than the others. If all three were identical. Why have 3 CRA's with matching score? The difference between 120 or 180 lates is really no difference. Major lates that will ding for the entire 7yrs.180 day lates is a sure way to the next step called chage off. Main thing is. They wont now or ever match completly. We'd all have in our siggy's. EQ, EX, TU is 750 (just an example)

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Just to clarify, the credit bureaus/credit reporting agencies do not report to FICO.  Rather, the credit bureaus license the scoring algorithms from Fair Issac Corporation (the creator of FICO scores), and as a part of the licensing process the bureaus can request customization of the algorithms to meet their specific needs.

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Since we are being pedantic, the bureaus likely implement the algorithm (write the software) themselves.  The likely have help from FICO consultants as part of the licence agreement, but FICO almost certainly isn't writing custom code for each licensee.

[ibebarrett]

@nerdralph

I’m just so bad at updating my signatures, right now my EQ is around 660, TU is about 695, and EX is right at 700

[ibebarrett]

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@FireMedic1 wrote:

Each CRA has their own internal way to report FICO scores. Some are tougher on some areas than the others. Some are lighter than the others. If all three were identical. Why have 3 CRA's with matching score? The difference between 120 or 180 lates is really no difference. Major lates that will ding for the entire 7yrs.180 day lates is a sure way to the next step called chage off. Main thing is. They wont now or ever match completly. We'd all have in our siggy's. EQ, EX, TU is 750 (just an example)

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I agree with you on the point of them being slightly different, its just mind boggling that reports with the same exact baddies and has such a drastic scoring difference on one single scoring model series in a sea of models that score all my bureaus within 10 points of each other

[FireMedic1]

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@ibebarrett wrote:

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@FireMedic1 wrote:

Each CRA has their own internal way to report FICO scores. Some are tougher on some areas than the others. Some are lighter than the others. If all three were identical. Why have 3 CRA's with matching score? The difference between 120 or 180 lates is really no difference. Major lates that will ding for the entire 7yrs.180 day lates is a sure way to the next step called chage off. Main thing is. They wont now or ever match completly. We'd all have in our siggy's. EQ, EX, TU is 750 (just an example)

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I agree with you on the point of them being slightly different, its just mind boggling that reports with the same exact baddies and has such a drastic scoring difference on one single scoring model series in a sea of models that score all my bureaus within 10 points of each other

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This is true. You have to remember. Not 1 person will match another. Its like a fingerprint when it comes to scores. The whole thing could flip flop for another person close to what we have in our scores/reports. You may have a higher EQ/lower EX. Close to you could be a complete opposite.  Sub-Forums could be called. :"Trying to Understand FICO Scoring".