Two different Equifax scores being pulled

[ceezo]

I use two different monitoring services (myfico and experian) My Transunion and Experian are the same scores for the two services. It's my Equifax scores that differ - myfico reports 710 and experian reports 678 (fico 8) scores. One thing I did notice is myfico Equifax is not reporting all of my accounts (opened or closed) and Experian reports all my accounts. I just had a credit pull for a mortage and it reflects my 678 score by Experian. What is going on with myfico?

Thanks

[Credit4Growth]

Different data being reported, especially across different CRA assist in causing a variation in score as each CRA uses an algorithm that is not exactly the same as another CRA.

Concerning a mortgage, I would say the scores from the bureaus are what count.

I would not know if there is a problem with MyFico.  Getting EQ to to re-report missing account could be a pain of a process at times but I would start with calling the creditors of open account that are missing and ask them to (in the case of a CC do an off cycle) report the again.

I know that my idea is only of little help but I think it is the easiest and least frustrating way to begin addressing the discrepancies!

[GatorGuy]

I would start by going to annualcreditreport.com and pull your reports and see what EQ has actually on your profile. 

Are you sure the mortgage score that was just pulled was a Fico8? For EQ, usually its a Fico 5. Obviously your Fico 8 socre will differ from the older scores typically used for mortgages. 

[ceezo]

Hi - No the mortgage company did not pull fico 8 I just used 8 for this topic of discussion. Another thing I just found while I was on credit Karma they have a feature that show "what changed" to your credit score and back in February it shows Equifax removed about 40 accounts from my report both old and current hence a 68 point score increase. This is so odd as now Credit Karma, Equifax.com and MyFico are aligned with reporting - Experian as I mention has all my accounts reporting on Equifax.

[coldfusion]

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@Credit4Growth wrote:

I would not know if there is a problem with MyFico.  Getting EQ to to re-report missing account could be a pain of a process at times but I would start with calling the creditors of open account that are missing and ask them to (in the case of a CC do an off cycle) report the again.

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You're close. But:

- You want to outline the problem, but not what you think would be the solution.  That's for them to figure out (and many creditors are beyond reluctant to perform out-of-cycle reporting).

- What you really want is for creditors to validate that they are reporting to Equifax, and then let Equifax figure out why the information being provided by the creditor isn't reflected on your report (as in for example you have a split file).   Having confirmation from a creditor that they are in fact reporting to Equifax makes it tougher for Equifax to blow you off when you report a problem (also makes it a lot tougher for the CFPB to flag a dispute as being frivolous, if that route becomes necessary).

What I would suggest is something like:

Pick one of the creditors reporting on Experian but not reporting on Equifax, contact them and tell them that you pulled your report and that based on your report they are not reporting to Equifax.  You want them to confirm to you that they are in fact reporting to Equifax.

Once you have the validation from the creditor that they are in fact reporting to Equifax, file a dispute with Equifax that they are not properly reporting information that the creditor has confirmed they are providing.    They should open up a ticket internally for resolution, and if they do their research properly (IME that isn't a given) they should uncover and address a bunch of issues, not with just this 1 creditor.

Be prepared for the process to take 2-3 months to play out, also for the possibility that Equifax in particular may just handwave at the problem.   If they do that, be prepared for the possibility of needing to file a CFPB complaint. 

[Credit4Growth]

@coldfusion 

I bow to you sir!  🙌 

Your post seems to exude wisdom of time and experience.

Thank you!  I can apply this for two of my accounts reporting on Ex but not EQ.

[AndySoCal]

@ceezo 

A couple of things  you can do

1) Try to find a common denominator on the accounts that are  not reporting to Equifax. For example the address that the creditor has for you is a former address. The ones that are reporting the creditors are using your current address.  The name being used is different such as  generation code like JR or SR is used in one case but not the other.

2) Make sure the social security number is correct. Please understand the bureaus do not use the social security number only. An example of this was a consumer had immigrated to the United States from another country. The consumer had obtained credit under the temporary SSN like number that INS had provided. Later after the immigration process was completed the consumer received their permanet SSN.  The consumer had not updated the creditors with the permanent SSN once that was updated all the missing creditors were displayed on the credit report.

3) It is possible that the missing creditors do not report to Equifax.  If you could provide the list of missing creditors if you would like to that possibility can be elminated.