Hello experts,
This is my first posting on these forums. I apologize if this question has been asked before or if I am posting in wrong place.
My wife and I came together to US about 13 years ago. Since then all our revolving, store, installment & mortgage accounts are joint. We have no individual accounts. Because of this our scores pretty much moved together.
We last checked our equifax scores in November 2008 before buying our van. At that time we were both at 802. Since then, we have no inquiries, no new accounts, no late payments, no credit card balances. So ideally our scores should be around same now too.
I checked both our scores today because we are going to start looking for a new house. My score as expected was 804 but to my surprise, her score came out at 720. I checked our credit reports. Our account histories were identical (same number of pages too). There's absolutely nothing negative on her report.
Looking closely and comparing our reports, I found my "key factors affecting your score" were
1. percentage of department store accounts or charge cards to all of the accounts in your file.
2. The credit line on revolving accounts.
3. The total amount of outstanding balance on credit accounts
4. The loan amount on mortgage accounts.
While her key factors were
1. There is insufficient information, or no account history, for revolving accounts.
2. There is insufficient information, or no account history, for credit card accounts.
3. The percentage of department store accounts or charge cards to all of the accounts in your credit file.
4. The total amount of outstanding balance on credit accounts.
To me it looks like equifax' credit score software doesn't know what is on credit report software. Seems like software or data issue. But I would like to throw it out to this knowledgable community and ask for advise before I take next step in resolving this.
Sorry for lengthy post. But I wanted to get it right the first time.
Thanking you in anticipation.
